Buying Your First Property In Vietnam As A Foreigner - Legal & Procedural Insights 2024

[@jamesdowning1798]

I believe Malaysia allows ownership of the land as well as the building.

[@mrso6417]

Great video - very informative... is rental income taxed? and if so how is it calculated? Thanks and look forward to more vids!

[@CentralVietnamRealty]

Thanks for the questions Mr. So - rental income is taxed at a flat 10% (5% VAT and 5% personal income tax).

[@annaleonie2731]

Hi! This was really helpful! One question: you mentioned anyone could buy property on any visa, did you mean just the temporary residency visa, or tourist visas as well?

[@CentralVietnamRealty]

Thanks for the question Anna - Tourist visas are also acceptable for property purchase!

[@TonyWade-m7q]

Do you have a web site to look at the condos my wife is from Ho Chi Minh City and we are looking to buy but what to see different pieces thank you from Elkhart Indiana

[@CentralVietnamRealty]

Thanks for the question! You can find our websites here: cvr.com.vn/ luxurypropertydanang.com/ Feel free to reach out directly via email for more details as well: [e-mail]

[@pkkim9384]

Is it true that their real estate market is going through a heavy correction? I am trying to invest and gaging is its a good time especially for pre sale condos. I sent you an email and looking forward to hearing back Israel

[@CentralVietnamRealty]

Thanks for the questions - It is true that the correction of COVID and 2023 extremely high interest rates is coming to the end. As tourism is back, manufacturing is up, and interest rates are at all times low, many are expecting a lot of upside for investors in next 3-5 years. I don't believe we have received your email! Could you send directly to the email below? Thank you! [e-mail]

[@venkateshdharurkar2100]

Dear, very good & informative information

[@CentralVietnamRealty]

@@venkateshdharurkar2100 thank you for the kind words!

[@betserv.1187]

Are you saying that foreigners can own the properties for 50 years and then have to forfeit the ownership?

[@CentralVietnamRealty]

Thanks for the questions Betserv - currently the law allows foreigners to extend their ownership after the 50-year expiry. Foreigners also have the right to transfer their ownership to Vietnamese who would own the condos freehold and therefore the duration of ownership does not affect them.

[@betserv.1187]

@@CentralVietnamRealty To extend the ownership, do foreigners have to pay more or less the same amount of purchase price? Or just a nominal fee?

[@CentralVietnamRealty]

Thanks for the comment and question! It is unclear at this point as it is not written into law. Though there has been discussion about some small % land use extension tax based on the value of the property for extension.

[@betserv.1187]

@@CentralVietnamRealty Similar country like Thailand allows foreigners to buy freehold condo apartments and own them permanently. No wonder I hear more about foreigners buying condos in Thailand than in Vietnam.

[@Catalonia]

Is there a way to finance these using U.S. loans? (As a US Citizen). Is this a thing? Or is it just cash buyers?

[@TheMasterpulha]

great video, too bad the sound was kinda off. But ill be looking for CVR once we arrive to Da Nang

[@CentralVietnamRealty]

Sorry about that! We'll try to fix it up on future videos. Look forward to connecting once you're in town!

[@daveprice5155]

If you wanted to sell your apartment later how would you transfer the money out of Vietnam?

[@CentralVietnamRealty]

@@daveprice5155 thanks for the question Dave. With appropriate sales contract and tax receipts, local or international banks will send your fund abroad to the account r of your choice with ease. This is another service that CVR provides with any investor choosing CVR to transfer their property.

[@BtFromLa]

Seller pay 2% brokerage fee. Buyer pays any brokerage fees? Let’s say I want to find an agent to help in buying a property do I pay that agent if so how much? Thanks

[@CentralVietnamRealty]

Sellers generally pay 2-3% to their agent and buyers would pay 1% to their agent. These would be negotiable, some owners / buyers deciding to pay more or less depending on the property or the difficultly / workload required with the property search.

[@violaracer8168]

Hey Austin, I'm going to be in Da Nang in early May. I am interested in buying some property. Are you going to be in the office and available for a meeting?

[@CentralVietnamRealty]

Hey Violaracer - Austin will be available in Da Nang early May for a chat and a coffee before heading out to inspect some property. You can connect with him directly here : [e-mail] Thanks!

[@violaracer8168]

@@CentralVietnamRealty That sounds great. I will connect.

[@bmdailey]

I've noticed in my preliminary search that two-bedroom condos seem to be the norm. I was seeking a studio or one bedroom in a new building within walking distance of international restaurants. Both to live in, up to three months a year, and as a turn-key rental. Does that type of condo exist?

[@CentralVietnamRealty]

Thanks for the question BM - yes there are a lot of opportunities that would fit this description. Feel free to reach out directly for more information and specific listings [e-mail]

[@Christina0212]

Hello Bruce! It's a pleasure to meet you. I'm currently selling my property in Vung Tau. It's a fantastic location, right by the beach, and it's less than a 2-hour drive from HCMC. Feel free to send me a direct message if you're interested in discussing further.

[@CentralVietnamRealty]

Hey @@Christina0212 - we'd be happy to help with the sale of your condo in Vung Tau! If you wouldn't mind sending an email to our address with some details, hopefully we can be of assistance. [e-mail]

[@edgevz]

May i know if foreigner buying an condotel apartment can get pink book registered ? Understand apart for Altara Suites, most project near my Khe beach are under long term lease for foreign investor

[@CentralVietnamRealty]

Thanks for the questions! Most condotel projects now selling under Long Term Lease ownership for foreigners. Vietnamese may be able to get commercial pink books in condotels as per the 2021 legal update, but in practice they are not available yet. Residential condo towers still selling under Sales and Purchase Agreements for foreigners and will lead to pink books. Altara Suites foreigners are able to sign Sales and Purchase Agreements as well and transfer SPA contracts at the local notary office.

[@bdtn342]

If you can't get citizenship in Vietnam, is it wise to buy property?

[@CentralVietnamRealty]

@@bdtn342 thanks for the question. For investment purposes, perhaps citizenship wouldn’t be required. For residential purposes, perhaps looking into longer term renewable visa options would make sense. Of course, everyone has a different perspective on this. Great question though!

[@patrickryan-s5x]

sound quality is kind of crappy

[@CentralVietnamRealty]

Thanks for the tip! We will try to clean it up next time

[@jjconnoway5613]

If you own a property in Vietnam will it help to increase your visa permit duration?

[@CentralVietnamRealty]

Thanks for the comment JJ - the current visa law does not allow for residency or longer visas with property ownership. This of course is subject to change and has been a topic of discussion in past years

[@WORKofficeKPI]

Thanks for the information. Video very informative but please get better microphones

[@CentralVietnamRealty]

@@WORKofficeKPI thanks for the feedback! We’ve upgraded since this video 👍

[@bmdailey]

Is it possible to open a bank account on a tourist visa when interested in buying a condo?

[@CentralVietnamRealty]

Thanks for the question BM - yes it is possible to open a bank account in Vietnam with a tourist visa!

[@MrDarthvis]

So does that mean you don’t really own property in Vietnam? You can only lease that piece of land for 50 years?

[@CentralVietnamRealty]

Vietnam currently offers an ownership term of property for 50 years, extendable upon expiry.

[@spokeman]

What banks are your 'preferred' banks?

[@CentralVietnamRealty]

This question really depends on your banking goals, but overall Sacombank is very foreign friendly and allows a lot of amenities that other banks don't

[@spokeman]

@@CentralVietnamRealty Thanks

[@mdlg1983]

Good video, but the audio is really bad - it is very hard to hear/understand you

[@CentralVietnamRealty]

Thank you for the comment! We will try to clean this up on future videos

[@drmorales3009]

What about the visa to live there?

[@CentralVietnamRealty]

Hi there! The visa situation greatly depends on your nationality. You can get a glimpse from this post: visaguide.world/moving-to/vietnam/

[@ChristopherPellIELTS]

Why are properties in Vietnam expensive when compared to other developing countries in the region or even western countries? I can get a much better and bigger house in the UK than where my wife is from in Vietnam.

[@yongxing1848]

Bro I see you at the at the monarchy basketball court

[@CentralVietnamRealty]

Hey Yong - say hi next time!!

[@jamesdowning1798]

Why would anyone buy a home in Vietnam when they can't own the land ? Seems crazy that anyone would want to spend money to only own the depreciating part of the ownership.....the building....and not the potentially appreciating element....the land.

[@mk4883]

difficult concept for capitalists to understand. as land can be amassed by the few and passed down to their heirs for generations until they own everything, as has happened in the usa.

[@jamesdowning1798]

@@mk4883 Hi, thanks for the reply and yes it is a difficult concept to come to grips with. Is it better to rent then as the asset will depreciate quite quickly in line with the reducing time left on the property lease? Thanks for your help.

[@tbbarabara]

Americans can't buy freehold in Vietnam. We can not even on the land itself only the apartment. And we can't get a retirement visa. Who wants to get married?

[@CentralVietnamRealty]

You are correct as the current situation! Of course all of these items are subject to change in the future. Residential purchasing was only approved 9 years ago in Vietnam and the country is developing quickly

[@ardelleklacic8142]

Promo SM 😄

[@diesel8869]

Bad audio

[@CentralVietnamRealty]

We've recently got a new mic - next videos should all be better! Thanks for the advice

[@Yankeeprepperasshat]

Why is this audio so terrible? A $30 mic should be 5 times better. The audio makes this unwatchable. wtf? I’ve heard better audio from 1930’s.