Get quick answers for some of commonly asked questions about property buying and selling in Vietnam. For questions we haven’t answered below, leave us a message by filling out the form.
How will I pay for the property I want to purchase in Vietnam?
Before you will be able to finance the property you want to buy in Vietnam and pay for taxes and fees that come along with it, figure out first how you intend to make these payments. Generally, you have three options to make your payments:
What fees and taxes I need to pay if I purchase a property in Vietnam?
The tax applied is particularly favourable in Vietnam for real estate investments. Unlike Singapore and UK, there is no property tax and no capital gains tax.
Based on current Vietnamese government regulations, all purchasers (locals and foreigners) are required to pay only the following taxes and fees:
Also, there’s practically no notary fees for newly developed properties, and very minimal for second-hand properties. Whereas in France, for example, notary fees amount to around 8% of the property price.
As a foreign purchaser, do I need to physically stay in Vietnam?
With the amendment of Vietnam’s Housing Law, which allows foreigners and other foreign entities to own properties in Vietnam, there is no such regulation anymore that requires a foreign purchaser to be a resident of Vietnam. Came into effect in July of 2015, foreign purchasers are already allowed to buy and own a property in Vietnam, and stay out of Vietnam as long as they want.
What documents do I need to submit to justify my right to purchase/sell a property in Vietnam?
The basic documents you need to secure when looking into buying or selling a property in Vietnam are the following:
However, we recommend processing your papers with a lawyer to help with the acquisition of ownership certificate, translation and communication and other documentation necessary in purchasing and selling of property.
Is there a limit to the number of properties I can buy?
Before the amendment of the Vietnamese Housing Law, a foreigner can only own one (1) condominium in the country. After the amendment of the Housing Law in 1st of July 2015, an eligible foreigner is already allowed to own as many as 30% of the total number of units in a single condominium building, 250 units of landed properties in a single administrative ward or 10% of the total number of separate landed units in a residential area.
Is there a warranty of property after it has been handed over?
The warranty is usually 60 months for apartment buildings and 24 months for separate units according to the Housing Law of Vietnam. The warranty should include repair of columns, frames, floors, beams, walls, roofs, ceiling, staircases, terraces, paving, panelled sections, fuel supply system, plastering, lighting and electricity supply system, water supply systems, sewage drainage, septic tanks and solutions to problems of property cracking, collapse and subsidence. For other equipment attached to the house, such as an HVAC system, the lessee or the seller should provide warranty—including repair, maintenance and replacement—with the period of time recommended by the equipment’s manufacturer.
When can I re-sell my purchased property?
Before the handover of purchased property, foreign buyers can re-sell anytime by way of transferring the Sale and Purchase Agreement (SPA), which is subject to the endorsement of the property developer.
When the property has been handed over to the purchaser, he or she can re-sell only when the Pink Book has been issued.
What is Pink Book and how to get it?
The Pink Book, or more legally known as the “Certificate of Land Use Right and Ownership of House and Other Assets on the Land,” is a document that every property owner in Vietnam, foreign or not, should secure for the legality of their ownership.
Can I sell a property to another foreigner?
Yes, you can. Foreign purchasers can sell/transfer their Pink Book (or SPA) to any Vietnamese or foreigner, as long as the foreigner who will receive the ownership is entitled to own a residential property in Vietnam.
Can I lease my property?
Certainly, yes. When a foreigner owns a property in Vietnam, he can have it leased with prior written notice sent to the authority, and the owner will be held responsible for paying the taxes that come along with the leasing of the property.
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