Foreigners can buy apartment in Vietnam - Is that true?

For me that will be not a problem,I will like finish my self the style I will like, the only things make me scare ,is buy something without get, what I’m still not sure is hot to found if the builder and everything is ok.

I asked more info to Vietnamite girl what we are hanging out for a while and she living close to there , but she is not expert and not smart in this kind of things and because is 15 km from city center thinks is a horrible  investment. Anyway she will let me know more informations about soon,she will ask to someone of family want know more about.

I don’t mind the distance from city centre, I will living there from my foreign income,  I don’t need a job, the point is cheap as possible, and because out of centre,means more relax life, and be half way between hcmc and Bien Hoa, Imcan just see like positive investment for the future ,at the end buy at cheaper price,when both city will expanding,can just grow up the price.

Gass89,
Please check with them whether it is a 'commercial' or 'residential' apartment
With that price, I think it's a 'residential' apartment which you are unable to buy under your name!

Gass89 wrote:

For me that will be not a problem,I will like finish my self the style I will like, the only things make me scare ,is buy something without get, what I’m still not sure is hot to found if the builder and everything is ok.

How will you be communicating with, or even locating, your Vietnamese workmen?  As you seem to already know, it would be fairly easy for an unscrupulous contractor to cheat you.  You could let your prospective girlfriend negotiate, but that would be throwing a large and unfair burden on someone unless you were already married.

Gass89 wrote:

I asked more info to Vietnamite girl what we are hanging out for a while and she living close to there , but she is not expert and not smart in this kind of things and because is 15 km from city center thinks is a horrible  investment. Anyway she will let me know more informations about soon,she will ask to someone of family want know more about.

Is a Vietnamite an Australian-Vietnamese who eats Vegamite sandwiches?     Sorry, I couldn't resist that one. 
But seriously, if your girlfriend does not think it is a good investment you might want to consider her advice.  You say that she is not smart about these things but compared to who?  She certainly has more direct experience with Vietnamese real estate and building standards than you have, even if she is just a "country girl" and not an experienced speculator living in downtown HCMC.

Gass89 wrote:

I don’t mind the distance from city centre, I will living there from my foreign income,  I don’t need a job, the point is cheap as possible, and because out of centre,means more relax life, and be half way between hcmc and Bien Hoa, Imcan just see like positive investment for the future ,at the end buy at cheaper price,when both city will expanding,can just grow up the price.

Based on all you have said, why are you thinking about purchasing before you have even moved to the country?  Why not rent for a while and see?  Are you looking for reasonable accommodation at a reasonable price, or are you simply wanting to speculate and increase your net worth?  Perhaps you need to ask yourself what your really need before you ask around about real estate investments.

The big reason of buy is just because of price .
( the question is if is true and possibile to buy )
If price is true , the main reason of buy is , why pay 10 milion rent a month when if I take personal loan in Australia ( 750 milion =45.000$)I can buy apartment pay 9.3 milions a month and in 8 years is fully payed.

This is just an example , I could use equity of my home here and pay only 5% interest ( not 8-9 of personal loan ) and With equity loan I can even put In 15 years and pay less then 4.5 milions a month.

Basically the reason is because if buy will be cheaper then rent... and will be mine.

If the price , is true I would be ready to move to Vietnam now, if have to buy more expensive , or pay rent , I need wait 2-3 more years before then move there.

Actually I have no idea what kind of job I can do there , I made good investment in my life , I own house in Australia what is rented ( but half rent go in mortgage) I have good saving , basically If I come there in will living by investment income, dividend share and interest saving.

If I have to pay 10 milions rent , is too early to retire now without work... better stay in Australia and save more... if can buy that price , the story is different , split in 15 years equity loan , I will have enough money to living more then decent life easy... and after if found something to do ... just extra.

My girlfriend, when just saw the map she say straigh away not good!!! Only because too far from bien hos city centre( more her point of view) Shen living there, she has jobbthere ... but I don’t need job , stay 15 km outiside, for me is just a benefit!

She just say as well anyway looks like is cheating ( probably price too cheap to be true)

And anyway she has no idea about contract and nothing ... in next few days will talk with her brother in law what know about realestate.

I never try vegemite in 5 years I’m here!!! Anyway I wished she was half Australian!!! I asked to move here... but she don’t want or cannot leave the mother ... she been few times here but she is happy to living there...

If just come here and work few years here we will have much better life there after .

I send email for ask information anyway , but still didn’t get answer ... I’m start thinking maybe is just price of land...

How much Is the minimum true price for apartment or house what an expat can buy?
I’m looking only 1 room  and outside centre will be fine

I doubt an Australian bank is going to lend you money for a house in Viet Nam. If you get an equity loan in Australia, how are you goung to service that loan. It makes no sense what you are doing.

I wonder why you didnt mention this before?

Until 50.000$ I can get personal loan , about 30.000 I know for sure because I asked but I change mind , they approved without problem, is not mortgage ... is personal loan what I can use for holiday , renovations , gambling... anything.... and come with high% interest

If I take equity loan ( my house have 60.000$ equity but bank give max 80% of equity around 48.000$ I can get whiteout problem)

I can get borrow this money for anything I want and they will have my property for secure the loan.


I was keep looking about apartments, outside few very cheap like what I’m asking informations and maybe because something dodgy , other one cost over 1,5 billions even very small...

At this price is crazy buy apartment like that!!! They’re are really not in proportion with the cost of life and with the salary ...

They cost almost like in Melbourne!!! But in Melbourne the  low salary is 60.000$ a year

For me can be worth buy only if at least 50 m2 and less then 1 billion.

For me the max really happy to spend is max 14 milions m2 , but I wished to found something less, for me is ok even empty, actually I will prefer finish my self kitchen , bathroom and even lights.

Any other area of Vietnam where I can found this kind of price and at least nice place ?

Buy at over 14 milion m2 in a country where average salary is 5 milion a month , maybe never happen but is really risk of bubble.

This the main reason, buy at less then 1 bilion I don’t see any risk ( the only risk is don’t get ) buy at over 1 billion too risk loose money  in case something change , in case will not living anymore there , in case price will crash...

At around 10 milion m2 I’m feel in safe zone , at 14 milions m2 I’m feeling in the border dangerous zone.

At 22 milions m2 is really dangerous zone , too risky , good only for who know 100% will stay there almost all
Life or for who has really lot of money to throw and don’t care of anything.



The Australian loan will get payed from my rent ( cover double then the monthly loan) . My lucky was I buy a house 15% underprice , the vendor was very keen and in rush to sell, I give 35% deposit , basically the house from Day one have 45% equity available.

The rent is double then what I have to pay mortgage , is townhouse as well and the cost of insurance is split with other 3 neighbors townhouse, only 360$ a year .

Basically the rent cover all the cost and still generate a little profit.
Ask 45.000$ in equity loan , will get covered from rent.
And I will living with income from
Dividend and interest .

But like how I said, this can work only if apartment will cost me around 45.000$ ... if have to spend 90.000 will be not worth and not even possible for me.

Gass89 wrote:

Until 50.000$ I can get personal loan , about 30.000 I know for sure because I asked but I change mind , they approved without problem, is not mortgage ... is personal loan what I can use for holiday , renovations , gambling... anything.... and come with high% interest

If I take equity loan ( my house have 60.000$ equity but bank give max 80% of equity around 48.000$ I can get whiteout problem)

Your plan for a home equity loan may work but I doubt that any bank will make you a personal loan for any amount if they know that you will be quitting your job, leaving Australia, and moving to Vietnam.  Try explaining your full plan to them and see if they still want to make that loan.  In the US, not telling the bank you plan to move would be considered criminal loan fraud and I expect it may be the same in Australia.  Another thing to consider about the home equity loan is that if you go into default, you lose the Australian home, not the Vietnamese apartment. 

Gass89 wrote:

At this price is crazy buy apartment like that!!! They’re are really not in proportion with the cost of life and with the salary ...

They cost almost like in Melbourne!!! But in Melbourne the  low salary is 60.000$ a year ................

Buy at over 14 milion m2 in a country where average salary is 5 milion a month , maybe never happen but is really risk of bubble.

You are certainly right about that bubble so you win this prize.     And yet you still want to buy in a country where you have only visited but not lived.     Sorry, we must take back that prize.

I like the way you write 😃!

Anyway yes price are on bubble but if can buy at price What I’m looking to buy , I believe safe from the bubble... or very small loose, what don’t mind if anyway I will living inside... because anywhere where I will living in the world I have to pay rent anyway , that’s why if I buy at 45.000 Australian dollar , in any situation will still be good for me.

I know the risk of don’t pay the loan and loose my Australian house, but I have enough money in saving ,
Stock share to cover all the actual mortgage or more then half in case I will increase asking new liquidity for buy there. These mean I’m safe enough to don’t let it happened, I’m permanent resident as well , I can anytime comeback here , work and get the money I need .

This idea is not just born because I come home in holiday there ... I worked hard, save hard , invest good and even lucky enough ... I did all that In last 10 years for come to the day to retire in cheap country...Honestly my first plan was 5 years more work.... but I’m really sick of my job , I just want change life , and go away from here... if can buy decent apartment with 45.000$ , my plan will work ... if not I will have to keep working here....


About loan yes the bank will ask if is some intentions to change job or anything relevant, can’t remember if is for 3 or 6 months ...

This means I can even buy , keep work another 6 months and just after change idea and go living there ...

Please don’t ask me why I took mortgage and not pay cash the house here in Australia 😅  because I will explain ahaha , is always reason for any of my choiche  ahahah and usually are good reason😀

G’day Gass,

Take your time, and just rent a place here until you get a “feel” for what you’d like to do.    Now is probably the worst time to get into the property market here for many reasons. 

Do some research, you’ll find more reason to rent than buy.    Apart from the financial risks , you’ve got lifestyle issues.    That quiet neighbourhood could soon become a noisy, dusty construction site for years to come.   

Neighbours.....that’s another problem.  They throw crap everywhere, are inconsiderate of people’s space & they love noise.

It’s a good feeling knowing your not tied to a place.  Keep flexible with your options & your hard earned money in safe investment havens back home.     

Assume your investment here of say 45/50k.....It won’t be too flash.
You’ll probably get a cheap studio Apt outside the big cities if your lucky.  BUT....that same place would probably rent for only $250 a month.   You can lease small houses here for $300 a month long term in coastal locations. Two friends this week leased places for those amounts , and they’re new.   There’s a BIG surplus of empty property at the moment in some nice locations.

That’s only $3600 a year for your accommodation.

Leave your $50,000 in a Top ten superannuation Fund back in OZ paying @10% ( Yogis has averaged 10.2% last 5 years) and your more than covering your rent and importantly....haven’t got your Capital at risk in VN.

Prices here are ridiculous.  I spend a lot of time based in Nha Trang.   On the outskirts of town they’re asking  $3000  a sqm for s****y building blocks, surrounded by slums and garbage strewn everywhere.

For the average VN , thats over 5000 HOURS of work to buy ONE s****y metre of dirt.   The basic economic fundamentals are totally screwed here.

A recent article by Knight Frank Wealth on world property prices didn’t even have Vietnam listed ANYWHERE.    Even though they’re supposedly getting $20k a sqm in Saigon & I’m hearing $16k a sqm in beachfront Nha Trang.       Those prices would put Vietnam at 7th place in the worlds top 20 most expensive.   Monaco, HongKong, New York etc are at the top.   

BUT ...why didn’t Vietnam get listed.????

ANSWER..    Because NO BODY owns anything here.. it’s all tied to the communist party.    It’s leasehold LURs only.   

I’ve said many times in previous posts...the smart cookies , the big profiteering Multi Nationals lease everything here....... AND they use “other people’s money”.    Shareholders money, Banks money, Tax payers money on JV infrastructure projects & private equity. 

So Gass....think about it, relax and come here , rent a nice place for peanuts & keep your eyes & ears open ...you’ll soon get a feel for how things work.

Rents cheap......one of Yogis ex-wives spent more on monthly haircuts, nail spas & pedicures than the average rent here.

Thanks Yogy for all informations.

Actually if I can found nice rent for 300$ , I will not even think about of buy.

The think of buy just come up because a decent apartment was cost from 600 to 900$ a week.

The cheap one was too low standard ... I don’t want I been work hard for finish living in ugly place , just because I want stop work early.

I’m looking to found a balance , of acceptable quality and cheap would be great .

The reason of buy , if buy ugly apartment ( I don’t mind outside )but when is your, in few days , can just do new plasterboard/paint , new led lights , new kitchen and bathroom and new vinyl floor... with around 10.000$ can make looks I shtty apartment to become a luxury one ( at least inside - don’t know for how long have have problem infiltrations like what I saw in few I rented )

But the problem if rent have to accept how is it, nice one( I don’t mind luxury, but modern) is unbelievable expensive, pay 600$ to 900$ a month where the average salary is even less then 300$

Do you have your top 5 cities where I can look online for rent at around 300$ a month?

I will have a look about nha Trang, actually is I my plan to come and have a look around Nha trang , da nang and Halong bay in my next trip ... maybe next July.

I think most posters were working off of your original mention of Bien Hoa.  A decent apartment should certainly be available there for $300.  Now you are talking about going up the coast.  Where does your prospective bride want to live?  If you want it to last, I suggest you spend a lot more time listening to her and less time trying to game the housing market.  Asian women are strong willed, nothing like those docile Italians.   

I means next time I will come there I want see other places for have better idea , but around Bien Hoa would suit better , because she living and work there ... and probably don’t want move from there ... still early anyway for talk about, because my choiche are limitate by the cost... If I can’t fit in the budget , means I will not move there... and I don’t know how long we can last if have to wait 2-3 years see each other only 2-3 times a year.

That’s why I’m valuation anything , because the cost is the first point where I start... it will be worthless found nice place what I cannot afford.

I don’t know many Vietnamite woman... but I’m friend with few Hong Kong’s one  and I saw how they bossy with they’re boyfriend 😂😂😂 

About Italians womans I think more then docile are sneaky 😂😂😂 , anyway I’m almost 10 years away from italy ... I’m not updated... but my memories , at least around me was and where I worked was all sneaky

THIGV wrote:

nothing like those docile Italians.   

Docile Italian women?  I didn't have the chance to meet her in my years of living there.

My comment was intended to be a jab at the stereotype of Asian women as docile, but as I frequently do, I did not phrase it well.   

Here we go.....

So there’s romance in the air.😆

Well there goes Yogi using basic logic & economic fundamentals to assist in Gas’s transformation into life in Vietnam.   I thought I was onto a winner with this bloke🤓

The question is.....Will the Italian stallion gallop up the home straight with his balls & cash still intact...

OR

Like many others,  become a Buffalo......that’s what they call a lot of Expats.     Big , dumb & stupid..and can be led around by the nose.

Giddy up.

😂😂😂actually gallop was my job!!! I’m experienced in that !!! I work in horse races industry in last 10 years around the world...

About cash , I been smart until now... hopefully I don’t fell the top 😂😂😂 but I’m confident how to managing and protect my wealth... I did not bad job until now .

Actually I think much safer that vietnamite woman than any other woman around Europe , Australia... even offer me few times dinner out😱😱😱 , usually more you offer to any woman more they learn and pretend and after feel they just deserved.... this one at least even if her salary is much lower the. Australian salary and don’t really need it , I really appreciate offer me dinner few times .

No usually I don’t lose my head for who try to milking me.... usually when my life cross life with someone try to milking me... I will just illude and play with them 😂😂😂when they think are 1 step ahead, usually are 3-4 steps behind 🤣

Anyway even she looks very good and with good head and looks really serious person and worth to see how will going between us... even if I can trust her ... but that trust have a limit ahahha off course I will not buy house in her name!!!

My last relationship teach me a lot... in 5 years was very good but when come the bad moments ... eachbone not respect other one ... dosent matter of fair right or not... each one want just destroy other one😅 that’s why trust a person in good time is easy.... the problem is when will come bad times😅😅😅

Better always have everything protect!!!and be ready to anything .... in relationship , job, neighbors, friends... everything can change with time, never expect or give too much from anyone outside yourself!!! And don’t let anyone get in control of your life

That’s better Gass...

Illude & play.......Yogi likes that strategy, actually use it myself.  You’ve probably guessed I’m not a real bear.

Patience is invaluable here .  The VN don’t like to wait for anything,,so by delaying any investment decisions you’ll eventually expose their weaknesses...and use that against them.    Sooner or later , they’ll spit the dummy & you’ll see the real person behind the mask.

About those Buffalos
Yogi heard a story about a buffalo requiring a visit to the Optometrist. The buffalo couldn’t see properly , therefore wasn’t hauling the plough in a straight line thru the fields.   

Possible cataract surgery or glasses ,contact lenses were recommended ...and subsequent $$bill issued.

Don’t get caught .  Yogi has yet to see a buffalo wearing glasses.

I think I’m get addicted to this forum 😂😂😂

About patience I realise in Ben than market.... less interested... more  the price was going down.
Actually I was in need of belt , they asked me 1.5 milion  drop to 750.000 like they was give me a favour 🙈🙈🙈 just for me!!!!

I said no thanks... I don’t want even dealing with something cost 10 times more then what is worth...
They ask me how much I would pay!!! I just said that belt cost me 10$ in Australia and I’m happy to pay 10$! The exchange was 160.000 I round up my offer to 200.000
They didn’t listen !!! Keep ask 500.000
They ask ok give me your maximum offer ... is 10$ like how already said!!! Why I have to pay something more when at home I pay less!!!

They still double price 400.000
At the end I get tired and walk away ...

And they run behind me ... ok 200.000

From 1.5 milions is a huge different.... if I don’t have app in my phone for see the currency easy get  cheat... honestly I don’t respect this kind of vendor, try to Milking people like that is horrible... everyone need money..... if start from 500.000  and drop down I can understand, and I would buyed even for 300.000 without problem , 100.000 is not killing me...was the tips I was spend a day for the taxi around .

But they try to milking like that , after I did on purpose to buy cheap as possible !!

That person what sell to me the belt, acted better then people who I played against in poker at crown casino!!!unbelievable... at 750.000 was just because like me😂😂😂
At 500.000 what’s already sell with a loss!!!

But at the end sell for only 200.000 without problem!!! And even run behind me!

I think some of them don’t have basic rules of dealing, exactly looks like they don’t have patience , they want all Quckly... in that way maybe they cheat one tourist in 100 ... but if tourist go in the market , means is there for buy something... if give fair price , will not stay there and dealing and lose holiday time... and if make happy will buy more...doing like that will make everyone run away .

You can shear a sheep for life...
But you can only skin it once.

Some of those traders haven’t learnt that yet.

Gass89 wrote:

About patience I realise in Ben than market.... less interested... more  the price was going down.
Actually I was in need of belt , they asked me 1.5 milion  drop to 750.000 like they was give me a favour 🙈🙈🙈 just for me!!!!

I said no thanks... I don’t want even dealing with something cost 10 times more then what is worth...
They ask me how much I would pay!!! I just said that belt cost me 10$ in Australia and I’m happy to pay 10$! The exchange was 160.000 I round up my offer to 200.000
They didn’t listen !!! Keep ask 500.000

And they run behind me ... ok 200.000.

Hey Gass!  I don't know your age, but you're old enough to shop at Mercato di San Lorenzo in Firenze (not the covered Mercato Centrale) during the decades of 1980s - 1990s, the scene you described would be the exact one that every foreigner faced at every stall every time they entered the market, whether they wanted to buy anything or not. 

At least in Bến Thành, vendors do not cling like limpets to passersby as they did at San Lorenzo.  Before the Guardia di Finanza took an active role in cleaning up the hullabaloo on the streets of Firenze and Roma, I couldn't carry a purse on my shoulder or under my arm without having one vendor hanging on to me while another unzipping my purse.  Inoltre, non erano tutti rumeni né zingari  -- if you get my drift.

I also witnessed that ridiculous interaction in countries all over Central America, South America, Middle East, and Eastern Europe for decades, until as recently as the late 2000s.

In short, Vietnam is not that unique of a country and just about everything that happens in Vietnam also happens/happened elsewhere.

About Firenze I don’t know about that, I born end 1989, by the way I been i Firenze many times , I found different problem , nei vicoli in pieno centro città , someone didn’t just pee...leave some other gift on the street 😂😂😂 and wasn’t chocolate....I saw that multiple times!!!

About Ben Thanh market , I don’t want give impression I talk bad, I just don’t share they’re way of sell ( I means the market side of clothes ) because sell 90€ a 10$ belt, is not smart , maybe in 100 people they found one what will made mistake with exchange currency and think is cheap,  but no one want pay a Fiat like a Maserati , and if to someone happen willl fell very bad for days. Even because many tourist feel happy to buy something just like sign to support,  cheat  who support you is really not nice, and anyway is not even good for them , foreigner what come there with euro,dollars, don’t look at 10.000, 20.000 or even 50.000.
If give fair price example 300.000 probably I will not even open my phone and pay straigh away,  but when asked me 1.5 millions ,just remember every time I been ATM , I take around 2 millions, this made me just feel....like whatttt???

If that person charge me 50% more will take straigh away...charge me 900% more made me run away!!! What I really don’t understand dealing with someone when you get caugh...I say look I pay 10$ where I live...whats the point keep ask 50$? 40? And keep going...get caught try to sell at 900% already the trust is gone...even if I didn’t know that belt cost less then 10$ ,I will not trust anymore to pay 30$ just because say me already is selling with a loss...it doesn’t make sense,when is clearly got caugh in liar, made me just feeling uncomfortable and not happy to see and buy anything else and just run away.

Maybe other seller was better...I don’t know...because after him I run out.
Is like in poker,if you keep bluff ,but when you get caught will not work anymore in your favour.

In Dubai example in karama market ,same thing but they dealing more smart, they usually ask double or triple, this can accept and is enough room to dealing...if something cost 10 times more,you can even think can not afford with even discount and just run away...the art of dealing is ask more then what you think someone is ready to pay .
By the way the Dubai market,especially the one in old Dubai, are really  the worst I been in my life, you are not free to walking, they really attack  and kidnapping any tourist, and in this way almost everyone run away without even have a look, in Ben than market is not like that, people just ask but not push you with power inside they’re shop. Just like what I say is not bad market,is just not smart the way they try to sell to me.


Even count all the negative things,the positive are more and I still wish to living in Vietnam!!!

Ok Gass I hope by now you have decided to postpone buying real estate. It will take you a year to get through your Vietnam honeymoon to find out if you want to live here long term. Take it from the experts to rent first, or do a $10-two-star-hotel it for a while, no hurry. Bien Hoa near your female friend is a good idea, not out in the swamp by yourself. Her family can help you find you a rental cheaper. It can be very helpful knowing a local person to show you how things work.

At the end I think I will have to wait... looks too risky buy... and stop work now and living in rent is too early . I need another 3 year work here and we will see.

About hotel 2 star I had bad experience, first day in Bien Hoa my Vietnamite girl bring us to apparently nice cheap hotel 2 person was 450.000 night.

Air condition was loosing water on top of fan ( I disconnect straight away before then someone get electrocuted...
Water was cold ... after cold shower just go to the bed realised pillow was very dirty , the pillow don’t have even the cover , this means they don’t even wash , and I hope that dirty things is not what I tough was... just because was late, we put some chlothes on top of pillow ... after few seconds come out a huge cockroach... like not enough she open a bed side table and found used condom... a that point we change hotel...

I been in 5 stars hotel , official price is over 3 milions, but booking online from any booking websites, was always on offer to only 1 milion
Inclusive breakfast ( is even more then lunch in normal restaurant)

At the end was almost same money , because every time I’m going doing lunch for 2 people spend around 350.000 if count that hotel 450.000 at the end spend anyway 800.000

With only 200.000 have a very nice and clean hotel 5 stars

I think I will comeback in July for few weeks, but I think I will not relocate before then next 2-3 years.

Yes Foreigners can buy apartments in Vietnam, but, be careful, what is happening in New City now may happen in other real estate programs as well....

***

Good luck!

Lot of people from start , just give me warning about property there, but I’m the kind of person what I don’t think with head of other people , but always think with my head and very often I made good investment where everyone was think opposite.

But about Vietnam I been at conclusion everyone was right ! Is too risky ,  firstly I was not interested in any of apartment for foregner, the price is really much much over then average salary , for me this means big big bubble!!!
I was interested only in house apartment. At less then 1 billion , but looks like always you have to put your trust in someone else , looks
Like is not fair game, looks really easy get f..k!

Even if doing all the good step, unfortunately is no rights for foreigner , this means better buy overseas , rent and with the income living peacefully in Vietnam without problem.

If I have to spend 2-3 billions , here in Australia is lot of property what give good and safe rental income.

That’s why not worth the risk!

DELAFON wrote:

***

I don't know anything about real estate therefore have nothing to add to your FB page, just want to give a big compliment and two thumbs up to the person who translated your posts to Vietnamese.  S/he did an excellent job, one of the best translations I've read on the Internet in the last two years.

"It's true that the foreigners are allowed to buy and own house. But the Law on Housing doesnt regulated any specific articles to governed anything like type of apartment, this means you can buy and own any type of house in the country.

However, there are some regulation on limited quantity of house/apartment that a foreigners may own in the country.

He/She may not buy, rent and purchase, receive, inherit and own more than 30% of apartments in an apartment building;

Or more than 250 houses regarding separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division.

In case in an area whose population is equivalent to a ward-administrative division has multiple apartment buildings or regarding separate houses in a street, the Government shall provide guidance on number of apartments or number of separate houses that a foreign entity is entitled to buy, rent and purchase, receive, inherit and own;

There is some type of house which are only exclusive for some specific individuals and you are not allowed to buy or own like social house/apartment, house/apartment for the government officials or orphans, elderly.

Well and that is it, hope this helps."

DELAFON wrote:

Yes Foreigners can buy apartments in Vietnam, but, be careful, what is happening in New City now may happen in other real estate programs as well....

***

Good luck!

Hi, would like to learn more details about the apartments you bought. What happened with New City? Have you got the ownership certificate already? Thanks in advance