Despite being in the shadow of Da Nang and Ho Chi Minh City, Vung Tau is the preferable weekend gateway for expats, locals, and travelers alike who reside in Southern Vietnam, especially Ho Chi Minh City.
With improved infrastructure and connectivity, you can reach this harmonious island within 2-3 hours. With a long shoreline, there are a number of condos and condotels that pop up here and there, attracting the attention of property buyers.
In this article, I explain the basics you need to know if you’re interested in buying property in Vung Tau.
Can foreigners buy property in Vung Tau?
The same as it goes in other parts of Vietnam, you’re legally allowed to buy and own condo units in your own name. There’s no restriction on the number of units you can buy, but foreigners can own a maximum of 30% of the units in a condo building.
It’s important that you confirm with your agent or developer and assure that the quota hasn’t been filled.
Buying villas is also a popular option, where you can lease the land for a period of up to 50 years, even if the government has talked about increasing the term to 99 years. In general, the regulations to foreign ownership are going in the right direction.
If you buy a villa, 250 can be owned by foreigners in a given ward. This was not the case before 2015 when the Vietnamese relaxed the regulations to foreign ownership.
Why is Vung Tau interesting for property purchases?
Vung Tau is not a sleepy backwater, but actually a city with hundreds of cafés and restaurants, many decide to settle down here for a long time.