Vietnam Property Guide for Foreigners 2026: Where You Can Buy, Who You Can Buy From, Documents to Check Before Signing

For foreign buyers, eligible properties in Vietnam are limited to approved commercial housing projects sold directly by developers and resale units offered by foreign owners. Eligible sellers are also limited to two channels — developers and other foreign owners — and purchases from Vietnamese individuals are effectively not possible, as Housing Law 2023 Article 17.2 does not permit foreigners to buy from Vietnamese individuals.

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Imagine you are sitting in a sales gallery for an apartment in My Dinh, Hanoi, and a Vietnamese friend offers to transfer a unit to you cheaply under your name. That route is legally blocked. The formal channels are direct sales from the developer or resale from a foreign owner. The structure is explained below.

Where You Can Buy

Foreigners do not buy land; they buy apartments and landed houses in commercial housing projects. Under Housing Law 2023 and Land Law 2024, eligible units are those in approved projects outside national defense and security areas. Land in Vietnam is a national asset managed by the State, so foreigners cannot directly own land.

As of January 2026, Ho Chi Minh City had 93 projects eligible for foreign purchase (HCMC Press Center). In Hanoi, the average asking price for new launches in Q2 2026 was VND 95 million - 116 million per sqm (approx. USD 3,800 - 4,640 per sqm) (CBRE via VnEconomy, Savills via Nguoi Quan Sat), with new supply in H1 reaching 16,633 units in Hanoi and 10,761 units in Ho Chi Minh City (realtique.net, H1 2026).

Who You Can Buy From

There are two eligible counterparties: developers and foreign owners. With a developer you sign an official Sale and Purchase Agreement (SPA); with a foreign owner you sign a purchase agreement with that owner. Under Housing Law 2023 Article 17.2, there is no channel to purchase from a Vietnamese individual, with the sole exception of a foreigner married to a Vietnamese national and residing in Vietnam (Article 20.2.c).

If a consultant presents a unit through the third channel, stop the process and verify the seller first. The on-site foreign sales team will verify the seller, the building's remaining foreign quota, and the pink book before any payment is made.

How Quotas and Ownership Work

Foreign ownership is capped at 30% per building for apartments and 250 landed houses per area with a population of 10,000 (Housing Law 2023 Art. 19, compiled from rumavi.com and Savills as of 2026). The quota applies by building, not by project, and remaining quota for a specific block is not published in public statistics.

The ownership term is up to 50 years and renewable once, and if sold to a Vietnamese national, ownership converts to permanent freehold. As of September 21, 2026, about 6,188 homes were certified under foreign ownership, an increase of 1,519 units since August 1, 2024 (vietstock.vn). For investors considering Vietnam instead of Seoul with a budget of around KRW 1 billion (approx. USD 730,000), this structure should be explained first.

Documents to Check Before Signing

Check three sets of documents before payment. First, proof that the seller is either the developer or a foreign owner; second, documentation confirming the building's remaining foreign quota; and third, the pink book (certificate of ownership). From January 1, 2025, Land Law 2024 merges the pink book and red book into a single certificate (Savills).

If you plan to use financing, preferential fixed rates from local banks were quoted at 5.5%-8.99% p.a. from February to October 2026 (CafeLand 2026-04, Nhadautu 2026-02, HSBC as of 2026-10-01, quoted rates). After the fixed period, the typical structure switches to a floating rate of the 12-month deposit rate plus 3.5-4 percentage points (Nhadautu, 2026-02).

What Is the Market Landscape

GDP grew 7.63%-8.18% YoY in H1 2026 (realtique.net, H1 2026). Registered FDI rose 61% in the same period, led by Singapore at 36% and South Korea at 26%. Tourist arrivals reached about 12.4 million in the first half, exceeding 2 million per month for six consecutive months.

Plans have been announced for five TOD zones near Metro Line 2 (total 940 ha) and the Can Gio Port (571 ha), and the public investment plan for 2026-2031 is VND 8.22 trillion (approx. USD 329 million), 2.7 times the previous plan. As realtique.net assesses that the market has passed through a correction, it is more prudent to prioritize location and quota over expectations of overheating.

FAQ

Q. Is a Hanoi apartment possible with a budget of around KRW 300 million (approx. USD 220,000)?
The average asking price in Hanoi in Q2 2026 was VND 95 million - 116 million per sqm (approx. USD 3,800 - 4,640 per sqm), so feasibility depends on unit size and the exchange rate. No fixed conclusion can be made without a given exchange rate.

Q. Where is the Korean expatriate community located?
A well-established Korean neighborhood is centered on the Thao Dien area in District 2, Ho Chi Minh City (now Binh Trung Ward).

Q. How much are monthly living costs?
Under the new Income Tax Law effective July 1, 2026, capital gains tax is 2% of the total transfer value, while rental income above the tax-exempt threshold is subject to 5% VAT and 5% personal income tax. Electricity tariffs effective May 10, 2025 are VND 1,984 - 3,460 per kWh (approx. USD 0.08 - 0.14 per kWh) on a tiered basis (EVN, Decision 1279/QD-BCT).

Questions to Get in Writing Before Payment

Get the following three items in writing before payment: the building's remaining foreign quota, whether the seller is the developer or a foreign owner, and the pink book issuance schedule. The Vietnam Korea Desk will send you the official price list, remaining quota confirmation, and a lease checklist via chat. Please contact us via KakaoTalk or Zalo and we will assist you promptly.