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Numerous foreign investors conduct business in Vietnam due to this development rate. Furthermore, Vietnam is a desirable location for businesses wishing to expand in Southeast Asia due to the abundance of commercial prospects it provides for foreign investors.

Vietnam Real Estate for Investors

The issue that foreign investors are most likely wondering is, "Can foreigners buy property in Vietnam?" To put it plainly, the answer is yes. The rest of the essay will address that in more detail.

A prevalent misconception is that foreign individuals and entities are not permitted to possess real estate in Vietnam. Yet the reality is quite the reverse. You can still buy real estate even if you don't have local residency or nationality. Before purchasing real estate in Vietnam, you should be aware of a few factors, including the real estate market, ownership limitations, foreign ownership certificates for real estate, and taxes.

A Handbook for International Buyers of Real Estate in Vietnam

As to the Vietnamese Law on Housing 2014, individuals who meet Vietnam's entry standards and are foreign investors or residents with sufficient money are permitted to purchase real estate.

There are several main articles of the Housing Law regulating property ownership for international citizens, listed below:

• It doesn't matter if you are only a tourist; you can still purchase any item.
• The quantity of real estate units you can buy is unlimited.
• However, in a ward, you cannot own more than 250 apartments.
• Likewise, in a communal building, you can only own a maximum of 30% of the apartments and a maximum of 10% of the housing development project.
• Foreigners can own up to 30% of apartments in common buildings but no more than 10% of land assets in Vietnam.
• You have the right to lease land for a period of 50 years; however, it is renewable.
• Foreigners who marry Vietnamese people can own eternal life.

Real estate ownership for foreigners in Vietnam

When doing business in Vietnam, if you want to stay here long term, a property ownership certificate is the first necessary step to buying real estate in Vietnam. This document, commonly known as the Pink Book, shows full ownership of your real estate, which may include land and/or assets in Vietnam. The pink book construction kit, you can register through the agent.

In addition, Vietnam's housing law allows foreigners to own up to 30% of the project's apartments. Areas designated for international and security departments are of course not available for sale. To learn more about designated areas for national and security departments, contact your local building authority.

Traditional mortgage for foreigners in Vietnam

In general, everyone knows that getting a mortgage in Vietnam for foreigners is not easy. However, if you want to quickly secure a real estate loan account, you should contact banks such as HSBC, OCB, UOB or Standard Chartered. If a foreigner has a Vietnamese spouse, they can receive a loan from OCB for 15 years or more reaching 80% of the asset value.

However, to get a mortgage, they must also put up collateral. It is good advice that you should check the interest rate, amortization criteria and repayment period carefully before making a decision to ensure the best offer for your investment account.