Updated: May 2025
Yes, foreigners can legally purchase residential property in Vietnam, including off-plan units like MIDORI PARK The Nest, provided the purchase adheres to the 30% quota limit established under the Housing Law (2023) and regulatory procedures in Decree 95/2024/ND-CP. This content is available in English, Traditional Chinese, Korean, and Vietnamese on our portal to assist international investors.
How does the foreign ownership pathway function?
Foreign buyers secure property through a direct Sale and Purchase Agreement (SPA) with the developer. Per the Housing Law 2023, you are restricted to owning no more than 30% of total units within a single apartment building.
- Tenure: Foreigners are granted a 50-year leasehold, which is renewable.
- Conversion: If you sell your unit to a Vietnamese citizen, the title converts to permanent freehold status.
- Documentation: Upon project completion and full payment, you are issued the "Pink Book" (Certificate of Land Use Rights and Ownership of Houses). This document is the legal requirement for all future resale and official capital repatriation.
What is MIDORI PARK The Nest?
The project features 972 units across two towers within the 110-hectare TOKYU Garden City. A collaboration between Japan’s Tokyu Corporation and Vietnam’s Becamex IDC, the property starts at USD 88,500 for a 2-bedroom unit with a planned handover between April and July 2027. It includes specialized infrastructure like NTT-powered cloud Wi-Fi and a 25-floor sky pool.
Why does the project’s administrative location matter?
Following the 2025 administrative boundary expansion, the project’s location in the former Binh Duong New City is now integrated into the formal jurisdiction of Ho Chi Minh City. This shift enhances the project's long-term capital appreciation potential due to its proximity to the government complex, international school clusters, and improved infrastructure via National Highway 13 and planned metro extensions.
What must foreign buyers verify before investing?
Before placing a deposit, complete this four-step due diligence process:
- Verify the Quota: Secure written confirmation from the developer that your specific unit falls within the allowed 30% foreign ownership quota.
- Milestone-Based Payments: Ensure your payment schedule is tied to specific construction progress rather than fixed calendar dates to mitigate project risk.
- Capital Entry Compliance: Under Decree 95/2024/ND-CP, you must use a licensed bank account for all transactions. You must keep records of your inbound wire transfers to ensure legal repatriation of rental income or future sale proceeds.
- Tax Considerations: Account for the non-resident tax rates on rental income and capital gains. Marketing brochures often omit these costs, which can impact your net yield.
Frequently Asked Questions
Can I secure a mortgage in Vietnam as a foreigner? Mortgage access remains restricted for non-residents. Most investors at MIDORI PARK The Nest rely on staged cash payment plans synced to the construction schedule.
What happens to the 50-year leasehold? The Housing Law 2023 allows for the renewal of the 50-year term. Alternatively, selling to a local buyer at any time triggers a conversion to permanent freehold status, clearing the leasehold expiration risk.
When will the unit generate rental income? Handover is projected for Q2/Q3 2027. You should allocate 1–2 months post-handover for interior fit-outs before the unit is ready for the rental market.
Final Assessment MIDORI PARK The Nest provides a viable entry point into the expanded HCMC residential market under USD 90,000. It minimizes speculative risk by operating within an existing, master-planned development rather than a new, unproven site. Success depends on strict adherence to the capital trail requirements of Decree 95/2024/ND-CP and clear verification of the foreign quota.
Sources:
- Housing Law (2023), National Assembly of Vietnam: [https://thuvienphapluat.vn](https://thuvienphapluat.vn)
- Decree 95/2024/ND-CP, Government of Vietnam: [https://vanban.chinhphu.vn](https://vanban.chinhphu.vn)
- Ministry of Construction, Vietnam: [https://moc.gov.vn](https://moc.gov.vn)
Reviewer: Content reviewed by regional investment analyst specializing in Binh Duong-HCMC administrative transitions.
