If you own a unit at Vlasta Premier - Phu Thuan, you can resell it to another foreign buyer or a Vietnamese national, and lease it out. Under Article 20 of the Housing Law 2023, a foreign owner holds the unit for up to 50 years from the date the Pink Book is issued, renewable. Resale to a Vietnamese buyer converts it to long-term (permanent) ownership — the exit many investors plan for.
Key takeaways
- Foreign owners at Vlasta Premier - Phu Thuan may resell to another foreign buyer or to a Vietnamese national, or lease the unit freely.
- Ownership runs up to 50 years from the Pink Book date, renewable, and becomes long-term (permanent) once resold to a Vietnamese buyer — Article 20, Housing Law 2023.
- You cannot sell to a Vietnamese individual who already owns the unit; you must be the seller. The buyer cannot be a Vietnamese owner of that same unit — Article 17.2 restricts foreign purchase from Vietnamese owners, not the other way around.
- The building's 30% foreign-ownership quota (Article 19, Housing Law 2023) governs how many units foreigners may hold — a clean Pink Book and quota check protects your exit price.
- Decree 95/2024/ND-CP is the implementing regulation for both the quota and the 50-year term.
On this page
Say you're a Korean executive posted to Ho Chi Minh. You bought a unit at Vlasta Premier - Phu Thuan on an SPA with Van Phu Real Estate Development JSC, received your Pink Book, and now your assignment is ending. You want to know: can you actually sell, who will buy, and does the title situation create a discount?
Who can buy your unit when you decide to exit?
You have two buyer pools. First, another foreigner — they purchase the remaining term on your Pink Book, can still renew it if it hasn't been renewed yet, and can still resell to a Vietnamese buyer later, triggering the same permanent-title conversion. Second, a Vietnamese national — the moment that transfer registers, the title converts from a 50-year foreign-held term to long-term (permanent) ownership under Vietnamese law. That conversion is a genuine value argument when you're negotiating price.
What you cannot do is buy from a Vietnamese owner — Article 17.2 of the Housing Law 2023 closes that route for foreign purchasers. But as a foreign seller, that restriction doesn't bind you. Vietnamese buyers can absolutely purchase from you, and they often see permanent title as worth a premium over buying a shorter-term unit from another foreigner.
What paperwork must be clean before you list?
Three documents drive every exit. If any one of them has a problem, the sale stalls or the price drops.
| Document | What to check | Why it matters at exit |
|---|---|---|
| Pink Book (Certificate of Ownership) | Issued in your name, no mortgage or encumbrance registered | Without a clean Pink Book, no notary will process the transfer |
| Foreign-quota status (Article 19, Housing Law 2023) | Building has not exceeded 30% foreign ownership | A foreign buyer cannot take your unit if the quota is already full at the time of transfer |
| SPA and payment records | All instalments settled, no outstanding service-charge debt to Van Phu | Outstanding debt can block the Pink Book transfer at the notary office |
Get the quota and Pink Book status confirmed in writing before you accept a deposit. Our desk can pull the current foreign-quota position for Vlasta Premier - Phu Thuan on request.
How does the resale process actually work step by step?
The mechanics differ slightly depending on whether your buyer is foreign or Vietnamese, but the notary step is identical.
- Agree price and sign a deposit agreement.
- Both parties appear at a Vietnamese notary office with originals: Pink Book, passports or Vietnamese ID, SPA, and proof of payment settlement.
- Notary drafts and witnesses the sale contract.
- The contract is submitted to the local Land Registration Office for title transfer — this is where the Pink Book is reissued in the buyer's name.
- If the buyer is Vietnamese, the reissued certificate carries long-term (permanent) ownership. If the buyer is foreign, it carries a new 50-year term from the new Pink Book issue date.
Transfer taxes and fees are set by Vietnamese law and apply to both parties; your tax adviser should confirm the applicable personal income tax rate on the gain before you sign anything.
Can you lease the unit instead of selling?
Yes — foreign owners at Vlasta Premier - Phu Thuan can lease freely without a government approval step beyond standard lease registration. Its location on Nguyen Van Linh Boulevard in Phu Thuan Ward places it in South Saigon's commercial and residential corridor, making it an option for corporate tenants and international families.
Leasing doesn't affect your 50-year term or your right to sell later. It keeps the asset working while you wait for the right exit price or decide whether to renew ownership at the end of the term. One practical note: register the lease contract with the local ward office — it's a short step that protects both you and the tenant if a dispute arises.
Does the 50-year term create a discount on resale?
Honestly, it can — but less than many foreign owners expect, for two reasons. First, the term is renewable under Article 20, so buyers can apply to renew before it lapses. Second, any Vietnamese buyer gets permanent title immediately on transfer, removing the time-horizon concern for that buyer pool. The real discount risk comes from a nearly exhausted foreign quota: if you can only sell to Vietnamese buyers, your pool narrows and they know it.
FAQ
Can a foreigner buy my unit if the building's 30% quota is already full?
No. Article 19 of the Housing Law 2023 caps foreign ownership at 30% of apartments per building. If that cap is hit at the time of your sale, only Vietnamese buyers can take the unit — and the transfer still proceeds cleanly, converting to permanent title.
What happens to my Pink Book after I sell?
You surrender the original at the notary. The Land Registration Office cancels it and issues a new one in the buyer's name. Keep copies of everything — the old Pink Book, the sale contract, and the transfer receipt — for your tax records.
Can I sell to a family member who is Vietnamese?
Yes. A Vietnamese national buying from a foreign owner follows the same process as any other Vietnamese buyer. The title converts to permanent ownership on registration.
Do I need a Vietnamese lawyer to handle the transfer?
A notary is legally required; a lawyer is not mandatory but is strongly advisable if you're not fluent in Vietnamese or unfamiliar with local transfer procedures. The notary processes the paperwork; a lawyer protects your negotiating position beforehand.
Three questions to get answered in writing before you accept a deposit
- What is the current foreign-ownership quota status for this building under Article 19 — how many units are already foreign-held?
- Is the Pink Book issued in my name free of any mortgage, encumbrance or registered debt to the developer?
- Are there any outstanding service charges or management fees registered against this unit that could block notarisation?
Our foreign-buyer sales desk can check the remaining quota position for Vlasta Premier - Phu Thuan and send you the current foreign-owner resale checklist over Zalo or WhatsApp — just reach out via the chat channels on this page.
Sources
- Housing Law 2023 (Law No. 27/2023/QH15) — Articles 17, 19, 20
- Decree 95/2024/ND-CP — implementing regulation for foreign ownership quota and term
