Are foreigners permitted to purchase apartments from Vietnamese citizens?
Saturday, April 06, 2024, 07:52 GMT+7
Can a South Korean national married to a Vietnamese citizen purchase an apartment from a Vietnamese individual?
In response to the inquiry, lawyer Nguyen Hoang Thinh, director of Hanoi-based THD Ltd. Law Firm, explained that Article 160 of the Housing Law allows foreigners to own houses in Vietnam, though such properties can only be purchased through a very specific set of channels, such as approved housing projects.
Additionally, they may rent, purchase, receive as gifts, or inherit houses and apartments within housing construction investment projects, excluding areas reserved for national defense and security as per Vietnamese government regulations.
Importantly, Clause 2, Article 76 of Decree No. 99/2015/ND-CP stipulates that they can only buy apartments and houses from foreign organizations and individuals who already possess properties in Vietnam.
Foreigners are prohibited from directly purchasing houses from Vietnamese citizens.
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