According to the Law on Housing, which took effect from 2014 foreign individuals are eligible for ownership if they are allowed to enter Vietnam. You only need a tourist visa to buy, it’s simple as that.
As you can see, Vietnam’s property market opened up very recently. This in combination with the country’s rapid economic growth makes Vietnam one of the top spots for foreign investors. You can buy, rent, receive or inherit ‘commercial’ housing, including condos and detached houses in projects of housing construction.
However, before you buy, it’s important that you study the buying process and payment schemes well in advance, as these might differ quite much compared to home. Therefore, I’ve written this guide where I explain the following:
- Process when buying off-plan
- Information about payment instalments
- Other useful information
Process when buying off-plan property in Vietnam
Below I’ve included a step-by-step guide when booking and paying for an off-plan property in Vietnam.