Foreigners can now purchase apartments with a maximum lease period of 30 years but they cannot buy land. The reality though is that no-one, not even Vietnamese, can own land in Vietnam. This is because according to the Vietnamese land law, the land in Vietnam “belongs to the people and is managed by the State on behalf of the people”.
However, although the State owns the land of the entire territory, it gives rights to use the land to individuals and entities under specific conditions, commonly called “land use rights.” Land use right certificates are issued. These allow quasi-ownership and are now renewable.
While land itself cannot be owned, Vietnamese law allows full ownership of any real estate attached to the land.
So while foreign individuals could not be granted land use rights, they were allowed to own real estate attached to the land under very strict conditions.
But as always, developers and real estate agents looked for ways around the law.
A typical arrangement to get around the law prior to mid 2015 did involve a foreigner engaging a Vietnamese nominee (a friend or an arranged nominee) to hold the land use rights on his behalf.
The land use right certificate would be issued to the Vietnamese person (the nominee). A private side contract would then be entered into between the expat and the local nominee. Tricky and more than a bit dangerous for the expat if the nominee is less than honest or dies. Like in Bali, this method is NOT legal and any issue that winds up in court left you very exposed.
All that has changed, for the good, as of July 2015.
The new housing rules allow foreigners who hold a visa to own properties outright, both condos and landed properties (houses, town houses, villas). They can be re-leased, collateralized and inherited with few restrictions. One important one is that a condo building can NOT have more than 30% foreign ownership. A housing development is more strict allowing only 10% occupancy for foreigners.
Occupancy rates of Grade A properties is at 92% and Grade B at 85%. In the popular expat area of District 2 three bedroom rents range from $1,500 a month to over $3,500. In other districts rentals can be had for less than $1,000 a month US. The new housing laws have started a building boom with many more units in A and B areas coming on stream in 2018.
Da Nang has emerged as one of Vietnam’s most significant cultural and recreational tourism destinations. The highway where Hyatt Regency Da Nang Residences resides is a golden coastline that connects directly to the International Airport, three UNESCO Heritage sites and several premier international golf courses. The subtle and innovative design creates a luxurious environment synonymous with comfort. This sophisticated three-bedroom condominium features living area of up to 100 sq. meters and spacious terrace while fronting a flawless, breath taking coastline where homeowners can enjoy a romantic walk on the beach. See More
World class golf in your backyard. Vietnam’s first golf course designed by the Scottish golfing legend Colin Montgomerie. The Estates of Montgomerie Links offers golf enthusiasts a spectacular lifestyle. All villa owners share a view of the enchanting Marble Mountain and directly front onto the spectacular 18 hole, 72 par golf course. With access to countless amenities, including an exclusive clubhouse, gourmet restaurants, tennis courts and spa facilities, villa owners are also close proximity to the rich cultural attractions of the UNESCO World Heritage town of Hoi An and is just steps to the white sands of Non Nuoc. See More
Nestled on an idyllic bay on Vietnam’s tranquil central coast, Banyan Tree Residences Lang Co is located within Laguna Lang Co, the first and largest world-class integrated resort in Vietnam. Framed by a 3km beach and lush countryside, this premium destination mirrors the charm of a culturally rich region, and is conveniently located within an hour’s drive from the airports of both Da Nang and Hue. Perched on an altitude of 25-86 meters above sea level, the elegant Banyan Tree Hill Villas offer breath taking panoramic views over the ocean with soaring mountains as a scenic backdrop.