Before you want to buy a Vietnam home, you need to know the buying process. You don’t want any surprises or hidden expenses, do you? That’s why it’s worth learning the whole process. I’ve developed a list of the top considerations while buying.

1. You have to buy a home in the local currency, the Dong.

This is the first and most crucial step. Are you contemplating a cash purchase, a home loan, or both? Due to the volatility of the Vietnamese dong, locals used to pay for real estate in gold. Now you may pay for real estate with the Vietnamese dong, one of the world’s most stable currencies.

2. Where in Vietnam do you want to buy a house?

If you are seeking a profitable property that will increase in value, then the rapidly developing neighborhoods of Ho Chi Minh City or Hanoi may be suitable as investments.

Da Nang or Nha Trang are wonderful choices for beach resorts to buy Vietnam home. Da Nang’s property values have grown dramatically recently, and the city is rapidly expanding.

Thousands of people visit Haiphong every day to experience one of Vietnam’s greatest attractions, Halong Bay.

3. Lawyer or real estate agent in Vietnam

I recommend employing a professional lawyer in Vietnam for significant deals and land purchases. The Vietnamese market is still relatively new to foreigners, therefore there may be some roadblocks.

But when buying apartments on the primary market, foreigners rarely utilize lawyers or brokers. Real estate developers like Novaland and CapitaLand focus on new condo buildings in Ho Chi Minh City and Hanoi. There are also many other foreign property developers in Vietnam who create buildings and residential complexes above international quality standards.

4. Make a down payment in Vietnam

Once your broker has found the project you like, you must pay a non-refundable VND 100 million (about $ 4,500) deposit. The deposit agreement specifies that the deposit can be paid by credit card or bank transfer.

The non-refundable deposit is usually VND 100 million, but this can vary depending on the contract design.

5. First installment payment

The buyer must pay the first installment within 14 days. They accept bank transfers. A contract must be signed after the first installment is paid. The contract’s other installments must be paid.

6. Sale contract (SPA)

Next, the foreign ownership rights document, the SPA, should be formed.

7. Service tax

Before completing the transaction, you must pay a service fee of 2%. In addition to the service cost, you must pay the operation tax (0.5%) a one-year advance fee.

8. Get the pink book

If the purchase and sale contract is already completed and you are aware of your financial commitments, you must submit the documentation for the pink book application.

9. Closing

Make the final payment within 14 days of obtaining the pink book. That’s it, you’re now a proud Vietnamese property owner.

I hope now you understand how to buy a Vietnam home. If you have any more questions, ask them in the comments section.…

This article is aimed at individuals wishing to relocate to Vietnam (or travel there on a regular basis to work). For everyone else, this article about real estate in Vietnam, and specifically Hanoi, will be a pushing incentive to act. It’s never too late to think outside the box and do Vietnam investment!

Vietnam opened up to foreign investors to its fullest only in 2015. Since then, Vietnam has been bombarded with cash from a variety of enterprises, individual companies, ordinary visitors, and property buyers, all of which wanted a piece of the pie in this industry.

Personally, I believe that Vietnam is one of the most intriguing areas in Asia to invest in real estate right now. One square meter in one of Vietnam’s newest residential complexes, for example, costs just between 1200 and 1600 dollars in the country’s economic heart. After Japan and Korea, the rental yields in Vietnam’s major cities are among the highest in Asia.

However, before investing in Vietnam, it is critical to familiarize yourself with the dangers and trifles of the market. Also analyze all of the theory and witness practical instances of purchasing property in Vietnam as a foreigner.

In this post, I’ll cover foreign ownership regulations.

Can foreigners buy property in Vietnam?

Before, few foreigners have been able to invest in real estate in Vietnam. The main reason for this was the adverse real estate market conditions and the Vietnamese government’s tight regulations on foreign ownership.

However, in July 2015, Vietnam enacted the housing law (LRH), making it easier for foreigners to own real estate. In Vietnam, anyone (including foreigners) can currently purchase an infinite number of real estate units.

Previously, however, there was a restriction: a condominium could only have one unit. As a result, the laws for foreign property ownership in Vietnam have altered dramatically in recent years. However, foreigners should be aware that “purchasing” real estate in Vietnam constitutes a “lease” for a duration of 50 years with the option to renew.

Briefly about the new law regarding foreign ownership of property in Vietnam.

• Foreigners can buy real estate in Vietnam if they have a tourist visa;
• Foreigners are not allowed to buy more than 30% of the apartments in a residential complex and more than 10% of the real estate in a land project;
• The rental period for foreigners in Vietnam is 50 years, but it can be extended;
• If you have a Vietnamese spouse, you can acquire the right to own real estate.