Buying off-plan in Vietnam: legal guide for locals and foreigners
Off-plan sale conditions, the 5% deposit cap, the 30-70-95% payment rules, and what foreigners and overseas Vietnamese can own under the 2023 laws.
· 3 min read · iqiland.com
Whether you buy from Vinhomes, Masterise, Sun Group or anyone else, buying off-plan in Vietnam is governed by the same two laws: the 2023 Housing Law and the 2023 Real Estate Business Law, both in force since 1 August 2024. This guide sets out what buyers need to know, including the specific rules for foreigners and overseas Vietnamese. It is general information and not a substitute for legal advice.
Five documents to see before any deposit
- The investment approval and the land allocation or lease decision for the project.
- The approved 1/500 detailed plan.
- The construction permit or construction start notice.
- A Department of Construction letter confirming the off-plan homes are eligible for sale, with the list of units.
- A bank guarantee covering the developer's handover obligation for your unit.
Deposit and payment limits set by law
| Stage | Limit |
|---|---|
| Deposit | No more than 5% of the price (Article 23) |
| First instalment, deposit included | No more than 30% of the contract value |
| Total before handover | No more than 70%; no more than 50% where the seller is a foreign-invested company covered by the law |
| Total before the certificate is issued | No more than 95%; the final 5% is paid when the certificate is issued |
If anyone asks for a large "booking" transfer before the project has its sale-eligibility letter, that is a signal to stop.
Foreigners owning homes in Vietnam
- Who qualifies: foreign individuals permitted to enter Vietnam who do not hold diplomatic or consular privileges and immunities.
- What they can buy: commercial housing (apartments and houses) in approved projects outside defence and security zones.
- Caps: no more than 30% of the units in one apartment building, and no more than 250 houses in an area with the population of roughly one ward.
- Term: up to 50 years from the date the certificate is issued, extendable once for up to 50 more years.
Overseas Vietnamese
Vietnamese people living abroad who still hold Vietnamese citizenship can buy as local residents do. People of Vietnamese origin who no longer hold citizenship fall under specific provisions of the 2024 Land Law and the 2023 Housing Law; take your passport and proof of Vietnamese origin to a lawyer for advice on your exact case.
Buying on resale
- Units with a certificate: notarise the sale contract and check the original certificate, any mortgage and any dispute.
- Units without a certificate: sign a contract-transfer document endorsed by the developer; the seller pays personal income tax as required.
- Foreign resale buyers: confirm the building still has foreign quota.
Taxes and fees buyers usually pay
- 10% VAT on the building part of the price when buying from a developer (usually included in the price).
- A 2% maintenance fund for apartments.
- A 0.5% registration fee when the certificate is issued.
- Notary fees on resale.
Checking the electrics is the first job at handover, so bring a few spare sockets and bulbs. For a price list plus the legal file of the project you like, get the project price list on Zalo. If you are weighing an overseas market, read our guides to buying in Dubai and buying in Japan and Australia.
Red flags
- Being asked to pay into a personal bank account.
- A "capital contribution" or "promise to sell" agreement instead of a proper sale contract.
- Buy-back or fixed-return promises that are not written into the contract.
- Pressure to sign the same day "before prices rise".
Note: iqiland.com is not the developer's official website. Information is compiled from public sources; prices and terms are published by the developer or its appointed agents. Check the legal position before any transaction. We make no promise of returns.
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