Can foreigners purchase land in Vietnam? CVR
ฝัง
- เผยแพร่เมื่อ 1 มิ.ย. 2024
- Welcome back to Central Vietnam Realty new web TH-cam series!
As Vietnam is growing very quickly in terms of GDP, in terms of population.
Vietnam’s real estate industry has also developed along with the recovery of the economy after the COVID-19 pandemic, and is forecasted to thrive in the coming years.
CVR is here today to answer a very common question that we get all the time and there seem to be a lot of misconceptions about it. To help make it a bit more clear for all of our viewers on the question being: Can foreigners purchase land in Vietnam.
Let's find out more details on how you can own land in Vietnam with CVR!
Timecodes:
0:00 - Intro
0:40 - Can foreigners purchase land in Vietnam?
1:20 - Why foreigners cannot own land in Vietnam?
1:40 - What are the options for foreigners to own land in Vietnam?
2:50 - What's available for foreigners to purchase?
4:46 - Can you buy land in Vietnam using a nominee?
6:55 - Can you own land in Vietnam by getting married to a Vietnamese local?
8:00 - The land market in Danang
11:20 - General recap
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▶️ Website: www.cvr.com.vn
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📍Address: 333 Chuong Duong Street, Ngu Hanh Son District, Da Nang, Vietnam
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Great information for foreigners thinking of buying in Vietnam.Real estate market is booming in Vietnam and when see locals with money it is usually from that .
Locals know the lay of the land but for foreigners it is a real mine field .Yes technically all the land is owned by the people so you will get 50 year land lease but even locals with pink book don’t technically own their land it’s just their lease doesn’t have a expiration and for sure would be compensated if told to leave .
As a foreigner in Saigon I purchased a condo 9 years ago however it’s in my wife’s name so I am fine until my wife kicks me out .
The biggest problem for foreigners now though isn’t the 50 year lease most won’t live that long anyways it’s having legal status to stay in the country.
Buying real estate is a big investment and the most important thing is to have legal access to that investment and being allowed only 30 day tourist visa won’t cut it .
Things that I have learned so far is pick your development very carefully I really just trust the foreign developers from Singapore,Hong Kong Korea .
They build to international standards and get international property management companies like Savills ,CBRE etc to manage very important.
Vinhomes you can trust but I know someone who bought and vinhomes manages their buildings and it is not to international norms for example you have friends over they have to show I’d to security.Masterise isn’t too bad they tend to build what they advertise but NOVA LAND seems to be risky with it taking years for them to complete and in one case completed a condo only for the government to say they didn’t have permission to build so it can be a shit show .
Other thing for foreigners to think about is if you buy for sure you are not financing you are buying cash so currently renting any of the nice condos will be a very good deal it’s a renters market.
For example a 500,000 USD condo in Saigon is renting for about 1500 USD a month if the owner had just put the money in the bank they would be getting 2500 USD in interest a month .
Other things to consider that isn’t exactly clear is they say the 50 year lease can be renewed but at what cost ? If you have a 50 year lease can you sell to a foreigner and they get another 50 years or is it minus the years you owned ? If you have a 50 year lease can you resale to a local and they get pink book ?
Lots of things to consider it’s not straight forward like in the west where you get a real estate lawyer .
That’s why it’s good for foreigners to contact CVR for advice if they decide they want to take the plunge
Thanks for the comment Kev and a lot of your points are spot on! We hope all is well with your investment in Saigon and don't hesitate to reach out should you have any questions regarding the real estate market or legal situation for foreigners at any time!
Bottom line there exists NO long term visa whatsoever for foreigners. The End. Jobs? Those days are over as well especially the low rent garbage English teaching job, that nonsense ended years ago.
You MUST be married in with a local or be wealthy and purchase a ten year investor visa for oh yeah $1,000,000 U.S. to think about purchasing land in Vietnam.
There is ZERO option for unwealthy foreigners. So dreamers can forget about it.
NEVER EVER use a Vietnamese friend or associate to be the buyer/owner of any kind of property for you.
Furthermore, the residential area he shows you south of Danang is a nightmare.
Vietnamese build next to each other at less than an arms length. You’ll have a living arrangement filled with chaos - screaming kids by the 100’s, cafe and restaurants and bars playing loud music, neighbors playing karaoke constantly, trash, stray dogs, chickens.
Unless you’re in a super expensive gated community never buy anything jn a packed tight Vietnamese residential area it’s a madhouse.
This company tried to sell me a $110K condo south of Danang about 3 years ago, that new big rise condo development STILL isn’t close to being completed. I would still be waiting to move in.
Excellent, informative video. Thank you for posting.
Thanks for the kind words Cory! Glad you enjoyed the video 🙏
Being married to a Vietnamese lady this is very informative 👍
Hey Phil, thanks for the kind comment! Glad you found the video useful and feel free to let us know anytime if you have any further questions or want to start looking at property options 👍
Great video CVR! Very informative and accurate from the perspective of a local expat and business owner. Thanks!
Thanks for the kind words Marco Polo Studios!
This is so helpful!
Glad to hear from you, thanks Kristine!
Interesting content, thanks for the legal perspective!
Thank you so much Hans. We're glad you enjoyed the video!
they restrict it because of currency manipulators like the US who get unfair advantage when coming in to purchase land.
Thank you for your comment!
What if I'm Vietnamese but was raised in the States? Can I purchase land there or do they technically consider me not Vietnamese anymore?
Thanks for your comment Long! In order to purchase land in Vietnam, you will need to be able to prove Vietnamese citizenship by providing a Vietnamese passport or CMND/CCCD card (Chứng Minh Nhân Dân/Căn Cước Công Dân).
If your family still maintains Vietnamese citizenship, you should be able to apply accordingly with appropriate documentation.
Thanks for the compliment!
tốt
Cảm ơn anh/chị ạ!
Việt Nam is smart. Not allowed others to buy land. Cause dont want to loose our land.especially to the china ccp .
Real estate in Vietnam is too high.
Hello, I am in Danang and I do I have a Vietnamese wife and a son and we are looking in the future to buy some land to build a property. Do you happen to have a Zilo
Thanks for the comment Senior Trader - the developer is Filmore Development company with ties to Phat Dat group (one of Vietnamese largest developers in the south with a great track record)
Currently in Vietnam, all land belongs to state. Nobody can own land, even Vietnam citizens. They can only have the right to use land. 😮
Thanks for the comment DNguyen! Vietnamese citizens are able to get freehold ownership. Similar to the US and most modern markets, there is the possibility for eminent domain should the government have development plans for the area.
For this reason, it is important to check with a professional broker and do due diligence before proceeding with a purchase. We’re happy to help if you have any questions!
@@CentralVietnamRealty I don't think there's such thing as free hold ownership of land in Vietnam, only building on land!
Thanks DNguyen - I’d be happy to talk more at your convenience to discuss current real estate legalities!@@dnguyen787
Bro has amazing skin.
are you gay? your comment is so weird!!!
Only in Malaysia in this part of the world
Thanks for the comment Kamil! Correct that Malaysia allows more property rights for foreign investors that the majority of other Southeast Asian countries
I heard no one including Vietnamese citizens cannot own lands in VN. Government owns all the lands in VN.
Hey Magnetoforce - thanks for your comment.
In principle, you are correct, though the government allows freehold land ownership via land use rights certificates for Vietnamese investors
It is the same as mainland China, you buy xx years of usage rights. Ultimately, the communist government owns all land.
living in these areas is hard to find jobs and renter
Thanks for the comment NateNay! Da Nang is a growing and vibrant city with increasing job opportunities every year! Da Nang is also easily commutable with access to all parts of the city within 15/30 minutes so renters often choose the area they prefer the most
This sounds like all risk no reward I wouldn’t put my money into this
Thanks for your comment ONE AND DONE T ZONE! Completely understand, every investor has a unique risk appetite!
.5 mil for that piece of land? The Vietnamese must be all millionaires 🙂
Thanks for your comment. There are certainly a lot of wealthy Vietnamese! Of course, there are more affordable options as well depending on location and land size down to approximately USD $50k in Da Nang.
I want to open indian food hotel
Thanks Balwan! Please drop us an email and we would be able to help with the restaurant/hotel search. Cheers!
Info@cvr.com.vn
Try getting yoir money out when you sell!!! The system in Vietnam is crooked and massively overpriced
Hey Kipps, thanks for your comment. Money repatriation is actually quite simple as long as the funds are reported and taxed accordingly. We’ve been assisting clients with great success for years