Foreign citizens, including residents of the Russian Federation, have full legal right to purchase residential real estate in Vietnam, provided they have legally entered the country. The main form of ownership for foreigners is long-term Leasehold for a period of 50 years with the right of subsequent extension, since direct private ownership of land for non-residents is prohibited by law. Buying property is limited by strict quotas: foreign buyers are allowed to purchase no more than 30% of apartments within a single residential complex. Acquiring property in Vietnam gives the owner the right to personal residence and rental income, but does not grant automatic temporary residence permit (TRP) or citizenship. In this material, we will analyze in detail all legal aspects of buying property in Vietnam, risks, and ROI prospects.

Contents:

  1. Rights and Restrictions
    1. Legal Status of the Buyer
    2. Restrictions by Property Types and Locations
    3. Legislative Quotas
    4. Ownership Documents: "Pink Book"
  2. What Real Estate in Vietnam Gives to a Foreigner
    1. Visa Status and TRP: Myths and Reality
    2. Investment Potential
  3. How Much Property Costs in Vietnam in 2026
    1. Key Pricing Factors
  4. Where to Buy an Apartment in Vietnam: Regional Overview
    1. Ho Chi Minh City and Hanoi: Financial and Administrative Hubs
    2. Nha Trang: Affordable Resort Segment
    3. Da Nang: Developed Coastal Metropolis
    4. Phu Quoc Island: Premium Tourist Cluster
  5. How to Buy Property in Vietnam: Step-by-Step Process
    1. Step 1: Property Selection and Checking Foreign Quotas
    2. Step 2: Legal Due Diligence of the Developer
    3. Step 3: Reservation
    4. Step 4: Signing the Sales and Purchase Agreement (SPA)
    5. Step 5: Payment from Russia and Other Countries
    6. Step 6: Handover and Obtaining the "Pink Book"
    7. Additional Costs and Taxes During Purchase and Ownership
  6. Common Buyer Mistakes in Vietnam

Rights and Restrictions

The legal regime of property ownership for foreign citizens is regulated by the Housing Law of Vietnam (Housing Law No. 27/2023/QH15), as well as the regulations of the Land Law (Land Law No. 31/2024/QH15). These acts clearly differentiate the rights of local residents and foreign investors.

Any foreigner who has legally crossed the Vietnamese border and holds a valid international passport with an entry stamp or visa has the right to acquire residential property. There are no requirements for holding resident status or long-term residence in the country to complete a transaction. At the same time, the law provides for two forms of ownership: Leasehold and Freehold, but only one is available to foreigners. Leasehold is long-term leasing available to foreign individuals. The term of ownership is 50 years from the date of issuance of the title document. Upon expiration, the owner has the right to extend the lease for another 50 years, provided there are no violations of urban planning legislation. Freehold is indefinite ownership, available exclusively to citizens of Vietnam and foreigners officially married to a Vietnamese citizen.

Restrictions by Property Types and Locations

Foreigners have the right to buy apartments in commercial residential complexes on the primary and secondary markets (provided that the secondary sale comes from another foreigner) and standalone houses and villas located exclusively in gated development projects. At the same time, foreigners are prohibited from purchasing properties located in areas designated by the Ministry of Defense and the Ministry of Public Security of Vietnam as strategically important for national security. It is also impossible to purchase housing on the secondary market directly from Vietnamese citizens if the property was originally registered under Freehold.

Legislative Quotas

Vietnamese law limits the concentration of foreign ownership. In apartment buildings, the share of foreign ownership must not exceed 30% of the total number of apartments in a single residential complex or building. In the case of housing estates and villas, foreigners can purchase no more than 250 real estate units within one administrative district of the "ward" level.

Ownership Documents: "Pink Book"

Proof of ownership of housing is the Certificate of Land Use Rights and Ownership of Houses, known as the "Pink Book". The document is issued by the Department of Natural Resources and Environment (DONRE). For foreigners, the "Pink Book" officially records a 50-year ownership period indicating the expiration date of rights.

What Real Estate in Vietnam Gives to a Foreigner

Acquiring residential property in Vietnam opens up a number of economic and practical opportunities for a foreign buyer, but has clear legal boundaries.

Visa Status and TRP: Myths and Reality

Buying an apartment or villa in Vietnam does not automatically grant a temporary residence card (TRC) or investor visas of categories DT1–DT4. Vietnamese law strictly separates real estate investment from economic investment. Investor visas and TRCs are issued to foreigners who have established a business in Vietnam or contributed chartered capital to a Vietnamese company (starting from 3 billion VND for a DT4 visa). Property owners enter Vietnam on general grounds: via tourist e-visas (up to 90 days), business visas, or under a TRC obtained through a work contract or corporate registration.

During the 50-year Leasehold period, a foreign owner has the right to lease the property long-term or short-term, sell or assign ownership rights to other foreigners (for the remainder of the 50-year term) or to citizens of Vietnam (in which case the property status automatically converts to Freehold). Furthermore, ownership rights allow inheriting or gifting real estate to individuals legally entitled to own housing in Vietnam.

Investment Potential

In major metropolises (Hanoi, Ho Chi Minh City), the average long-term rental yield for business-class housing is 4.5–6.5% per annum. In resort areas (Da Nang, Nha Trang), with successful management, short-term rental yields can reach 6–8% per annum. Driven by Vietnam's high GDP growth rate (averaging 6–7% per year) and urbanization, the value of high-quality primary real estate in major cities demonstrates an average annual growth rate of 7–10%.

How Much Property Costs in Vietnam in 2026

Prices for residential property in Vietnam vary depending on the economic status of the region, proximity to the coastline, and the class of the residential complex. Below are current developer asking price guidelines and secondary market estimates for foreign buyers as of 2026:

City / Region

Property Type

Segment

Price Benchmark (USD / sq. m)

Average Property Cost

Ho Chi Minh City

Apartment in RC

Premium / Business

$3,500 – $7,000+

from $180,000

Hanoi

Apartment in RC

Comfort / Business

$2,200 – $4,500

from $120,000

Da Nang

Seafront Apartments

Business / Resort

$2,000 – $3,800

from $90,000

Nha Trang

Apartments / Condotel

Comfort / Resort

$1,500 – $2,800

from $65,000

Phu Quoc Island

Villa / Apartments

Premium / Resort

$2,800 – $6,000

from $150,000

Key Pricing Factors

In Ho Chi Minh City (Districts 1, 2, 7) and Hanoi (Tay Ho, Nam Tu Liem districts), residential property prices are quite high due to well-developed transport networks and commercial activity. In resort areas, prime beachfront location plays a decisive role. Properties from major Vietnamese and international developers (CapitaLand, Gamuda Land, Masterise Homes, VinGroup) trade at a 15–30% premium to the market due to reliable documentation issuance.

The stage of construction also plays an important role in pricing. Purchasing at the pre-launch or foundation stage allows savings of 10–15% compared to completed properties. Additionally, the presence of an international hotel operator (Marriott, Accor, IHG) in resort complexes increases the price per square meter while ensuring a stable rental flow.

Where to Buy an Apartment in Vietnam: Regional Overview

Ho Chi Minh City and Hanoi: Financial and Administrative Hubs

Ho Chi Minh City is the country's economic engine. The housing market is oriented toward long-term rentals for international corporate employees and foreign expats. It features the highest entry threshold, but offers high liquidity and stable secondary market demand. Hanoi is the capital of Vietnam. In 2026, it shows active price growth for business- and comfort-class real estate due to metro expansion and the relocation of administrative ministries to new districts. Ho Chi Minh City and Hanoi are attractive to investors ready for higher initial capital outlays and targeting large urban markets with steady demand and growth potential.

Nha Trang: Affordable Resort Segment

A popular seaside resort with well-developed Russian- and English-speaking infrastructure. The market consists mainly of apartments and condotels. The entry threshold starts from $65,000 for a studio, attracting private investors with smaller capital. The main source of income when investing in this region is seasonal and short-term rentals.

Da Nang: Developed Coastal Metropolis

Vietnam's third-largest city, boasting clean beaches, high quality of living, and an international airport. Suitable both for personal residence, thanks to high safety and environmental standards, and for renting out to digital nomads and tourists from East Asia and Europe.

Phu Quoc Island: Premium Tourist Cluster

An island territory with special economic status. The market is focused on luxury villas, branded residences, and apartments within integrated resort complexes. Properties cater to investors seeking high capital growth and rental returns managed by international hotel chains.

How to Buy Property in Vietnam: Step-by-Step Process

The procedure for a foreign citizen buying residential real estate consists of six main steps:

Step 1: Property Selection and Checking Foreign Quotas

The buyer selects an apartment in a new development or on the secondary market (resale from a foreign owner). At this stage, it is necessary to obtain official written confirmation from the developer that the 30% quota for foreign citizens has not been exceeded in the chosen residential complex.

Before transferring funds, the developer's package of documents is verified:

  • Investment License
  • Construction Permit
  • Permission to Sell Housing to Foreigners (Sale Permission / Document from DONRE)
  • Project Bank Guarantee

Step 3: Reservation

The buyer signs a reservation agreement and pays a security deposit of $2,000 – $5,000 at the exchange rate as of late September 2026. This amount locks in the property price and removes it from sales.

Step 4: Signing the Sales and Purchase Agreement (SPA)

The primary Sales and Purchase Agreement (SPA) is signed. The document is prepared in Vietnamese with a mandatory notarized translation into English or Russian. The SPA specifies payment schedules, finishing specifications, warranty obligations, and 50-year lease terms.

Step 5: Payment from Russia and Other Countries

All real estate payments in Vietnam are made exclusively in the national currency, Vietnamese Dong (VND), via the developer's bank investment account.

Payment methods for Russian citizens in 2026:

Direct SWIFT transfers: conducted from Russian banks not subject to blocking sanctions to Vietnamese banks (such as VRB — Vietnam-Russia Joint Venture Bank) upon presenting the SPA contract as justification. Transfers through accounts in third countries are also relevant: transferring funds from personal accounts in banks in Kazakhstan, Armenia, UAE, or Turkey to the developer's account in Vietnam.

Crypto acquiring and licensed agents are also available options. This involves using P2P platforms or international financial intermediaries to convert digital assets (USDT) into Vietnamese Dong via official internal bank transfers within Vietnam.

Step 6: Handover and Obtaining the "Pink Book"

Upon completion of construction and commissioning of the building, property handover takes place. The buyer signs the acceptance act and pays the final installment along with the maintenance/sinking fund fee. The developer submits the package of documents to the Department of Natural Resources and Environment (DONRE) to issue the "Pink Book" in the foreign buyer's name.

Additional Costs and Taxes During Purchase and Ownership

The registration fee is 0.5% of the property's state-assessed value (paid upon issuing the "Pink Book"). A contribution to the maintenance/sinking fund of 2% of the property value (excluding VAT) is required, paid as a one-off fee to the developer at handover. VAT on property purchases by foreigners is 10% (in most cases already included by the developer in the advertised price).

Operating Expenses:

  • Maintenance and management fee: $0.5 – $2.0 per sq. m per month (depending on the residential complex class and amenities).
  • Utilities: By meter readings (electricity, water, internet).

If total rental income exceeds 100 million VND per year (~$4,000), a tax of 10% is payable (5% PIT + 5% VAT). Capital gains tax upon sale (for the seller): 2% of the transaction value specified in the resale/SPA agreement.

Is It Worth Buying an Apartment in Vietnam: Pros, Cons, and Risks
Like any investment, buying property in Vietnam has its advantages, drawbacks, and realistic risks. Below we cover the main ones.

Pros of Investing

  • Rising population incomes and internal demand stimulate the market for high-quality housing.Rising population incomes and internal demand stimulate the market for high-quality housing
  • Price per square meter in business-class developments in Hanoi or Da Nang ($2,000–$3,500) is significantly lower than comparable properties in neighboring Singapore ($15,000+), Hong Kong, or Bangkok ($5,000+)
  • Constant foreign inflow positively impacts demand
  • Urbanization ensures high occupancy rates in major cities

Cons and Risks

  • Leasehold tenure, which limits the ownership period
  • Risk of delay in obtaining the Pink Book, which can stretch to 1–3 years
  • Potential difficulties with repatriating funds from Vietnamese accounts. Official capital export from Vietnam after selling a property requires presenting a complete set of documents confirming local tax compliance and the legal origin of funds

Common Buyer Mistakes in Vietnam

Many investors, especially beginners, make common errors that can lead to legal risks and financial losses. There are several local market specifics to consider:

  • Ignoring the 30% quota check: If a foreigner purchases a resale apartment in a complex where the foreign quota is already exhausted, state authorities will deny issuing the "Pink Book".
  • Buying from a developer without Sale Permission: Transferring large sums before the developer obtains official permission to sell to foreigners risks freezing funds.
  • Expecting automatic TRP: Relying on obtaining residency solely based on buying an apartment.
  • Buying condotels with guaranteed returns without auditing the operator: Promised yields of 8–10% are often marketing claims without solid financial backing.

In conclusion, buying real estate in Vietnam in 2026 is legally permitted and regulated by Housing Law No. 27/2023/QH15. Foreigners acquire property under long-term 50-year leasehold rights with the option to extend, within a 30% quota limit. However, buying an apartment does not automatically grant a TRP or investor visa. For rental income generation, Hanoi and Ho Chi Minh City are preferred. For vacation and leisure, Da Nang and Nha Trang are optimal choices. Comprehensive legal due diligence on the developer and verification of the foreign quota status remain mandatory before making any financial transfers.