Key Takeaways
- Foreigners can legally own residential property in Vietnam under specific conditions, including through 50-year leaseholds and under ownership quotas.
- Recent 2025 legal reforms enhance market transparency, allow resale between foreigners, and improve exit strategies.
- Key investment hotspots include Hanoi, Ho Chi Minh City, Da Nang, and Phu Quoc, supported by infrastructure growth and rising rental yields.
Vietnam has steadily emerged as one of Southeast Asia’s most dynamic real estate markets, offering a rare blend of strong economic fundamentals, urban transformation, and investment potential. As the country continues its trajectory of rapid development, more international buyers are seeking opportunities to enter Vietnam’s property market, particularly in thriving urban centers such as Ho Chi Minh City, Hanoi, Da Nang, and the coastal regions. With rising demand for both residential and commercial real estate, Vietnam’s government has responded with a series of legal reforms and policy updates aimed at attracting foreign capital, enhancing transparency, and simplifying property ownership pathways for non-nationals.
The 2025 Legal Reforms: A New Chapter in Foreign Property Ownership
One of the most significant developments shaping the landscape in 2025 is the implementation of new land and housing laws, which took effect on August 1, 2024. These legislative updates represent a transformative moment in Vietnam’s property sector, offering clearer frameworks for foreign investors, strengthening legal protections, and reducing bureaucratic ambiguity. Crucially, the law now explicitly allows foreign individuals to buy and sell property from one another—an unprecedented move that significantly improves liquidity in the secondary housing market. This provision alone reduces exit risk and opens up new investment strategies, particularly for those seeking medium-to-long-term gains.
Moreover, foreign nationals married to Vietnamese citizens now qualify for indefinite property ownership, adding another layer of legal certainty and appealing to the growing number of overseas Vietnamese and expatriates considering permanent relocation or dual residence.
Vietnam’s Economic Outlook in 2025: Fueling the Real Estate Boom
The country’s appeal to foreign investors extends far beyond legal reform. Vietnam’s macroeconomic environment in 2025 remains robust, with the GDP projected to grow by 6.5%—among the highest in the region. Key sectors such as manufacturing, tourism, renewable energy, and digital services continue to attract large volumes of foreign direct investment (FDI). The first half of 2025 alone saw FDI inflows exceed $21.51 billion, with real estate capturing 24% of that total—more than double the amount seen in the same period the previous year.
Infrastructure investment is also reshaping the nation’s physical and economic landscape. Mega projects like the North-South Expressway, metro lines in Hanoi and HCMC, and international airport expansions are opening up suburban and secondary markets. This development offers new investment opportunities in emerging hubs such as Thu Duc City, Hoai Duc, Dong Anh, and parts of Da Nang and Nha Trang—areas where land values are rising rapidly, and future upside remains significant.
Diverse Investment Opportunities in a Fragmented Market
Vietnam’s real estate sector in 2025 is not monolithic—it varies considerably by region and property type. While Hanoi experiences record-high apartment prices driven by domestic demand and strong absorption rates, Ho Chi Minh City is seeing a more cautious rebound, with supply constraints limiting growth. This regional fragmentation calls for a location-specific investment strategy, underscoring the need for detailed due diligence and local market expertise.
Moreover, the opportunities extend beyond residential assets. Vietnam’s commercial and industrial real estate sectors are thriving, driven by export-oriented manufacturing, logistics expansion, and retail modernization. From high-end retail spaces in District 1 to industrial parks in Binh Duong and Bac Ninh, foreign investors are actively diversifying portfolios to capture broader economic momentum.
Risks, Compliance, and the Need for Local Expertise
Despite Vietnam’s attractiveness, foreign buyers must navigate a property market that is still maturing. The legal structure is based on state land ownership, meaning foreigners can only hold long-term lease rights rather than freehold titles. Strict ownership quotas, evolving regulations, and opaque land-use classifications present ongoing risks. The widespread use of risky “nominee” ownership arrangements—where a Vietnamese citizen holds property on behalf of a foreigner—continues to be discouraged by legal professionals due to high asset loss risk.
Further complicating matters are challenges related to legal inconsistencies across jurisdictions, lack of transparency in listings, and difficulties in verifying a property’s legal status. These concerns underline the necessity of working with reputable legal advisors, registered real estate brokers, and professional due diligence teams.
Why This Guide Matters in 2025
For foreigners considering an investment in Vietnam’s property market, 2025 presents both opportunity and complexity. Legislative reforms have expanded legal access and protection, the economy remains one of the fastest-growing in Asia, and the property sector is evolving toward greater maturity. However, the market’s legal nuances, cultural intricacies, and structural constraints require a highly informed approach.
This comprehensive guide aims to equip foreign investors, expatriates, and overseas Vietnamese with the critical insights needed to successfully navigate Vietnam’s real estate market in 2025. From legal frameworks and purchase procedures to pricing trends, rental yields, high-growth areas, and risk mitigation strategies, this guide consolidates the most up-to-date and relevant information in one definitive resource.
Whether you are looking to acquire an apartment for personal use, invest in a rental property, or diversify into industrial or commercial real estate, this guide offers the clarity and context you need to make smart, compliant, and profitable decisions in Vietnam’s fast-evolving property landscape.
How Foreigners Can Buy Property in Vietnam: A Comprehensive 2025 Guide
- Executive Overview: How Foreigners Can Buy Property in Vietnam – 2025 Deep Dive
- Vietnam’s Strategic Rise as a Real Estate Destination for Foreign Investors (2025 Edition)
- Legal Framework for Foreign Property Ownership in Vietnam: In-Depth 2025 Analysis
- Comprehensive Property Acquisition Guide for Foreign Buyers in Vietnam (2025 Edition)
- Financial Framework for Foreign Property Investment in Vietnam (2025 Guide)
- Vietnam’s Real Estate Market Outlook 2025: Strategic Insights and Investor Opportunities
- Residential Property Market Analysis in Vietnam (2025): Supply, Demand, and Buyer Behavior
- Property Price Trends & Forecasts (Vietnam 2025): A Regional and Strategic Investor Analysis
- Rental Yields & Investment Returns in Vietnam (2025): A Strategic Outlook for Foreign Property Buyers
- Commercial & Industrial Real Estate in Vietnam (2025): A Strategic Outlook for Foreign Investors
- Prime Investment Destinations in Vietnam (2025): Strategic Areas for Foreign Property Buyers
- Risks, Challenges, and Practical Considerations for Foreigners Buying Property in Vietnam (2025 Guide)
- Vietnam Real Estate Investment Landscape 2025: Strategic Overview for Foreign Buyers
1. Executive Overview: How Foreigners Can Buy Property in Vietnam – 2025 Deep Dive
In 2025, Vietnam stands out as a burgeoning real estate investment destination for foreign buyers, owing to its accelerating economic growth (GDP projected at 6.5–7.0%), strategic legislative reforms, and comparatively affordable property prices across Southeast Asia. Major legislative instruments, notably the Land Law 2024, Housing Law 2023, and Law on Real Estate Business 2023, have restructured Vietnam’s real estate legal framework to enhance investor confidence, improve market transparency, and streamline property acquisition by foreign nationals.
This guide explores every facet of the foreign property purchase process in Vietnam, including ownership limits, property types, financing, and taxation regimes, along with a comparative regional analysis and investment performance indicators.
📜 Legal Framework & Ownership Rights for Foreigners in Vietnam
🔹 Legal Basis for Ownership (2025)
- Laws Effective August 1, 2024:
- Land Law (2024): Defines land-use rights as state-controlled but transferrable via long-term leases.
- Housing Law (2023): Specifies eligibility of foreigners to own residential properties.
- Real Estate Business Law (2023): Streamlines licensing and transaction conditions for foreign participation.
- Ownership Entitlements:
- Foreigners may own residential structures (apartments, villas, townhouses) but not land itself.
- Instead, property rights are granted via renewable 50-year leaseholds (extendable to 100 years).
- Overseas Vietnamese with citizenship are entitled to full land-use rights similar to locals.
- Foreign spouses of Vietnamese citizens can acquire indefinite land-use rights.
🔹 Ownership Quotas and Limitations
| Property Type | Foreign Ownership Cap | Notes |
|---|---|---|
| Apartment Buildings | 30% of total units | Applies to each condominium project |
| Landed Houses (Per Ward) | 250 houses (or ~10% cap) | Based on administrative boundaries |
| Villas in Projects | Subject to local approval | Typically part of gated or tourist projects |
| Ground-floor Units | Restricted in some provinces | Confirm local zoning laws |
🏢 Eligible Property Types for Foreign Buyers
🔹 Apartment Units (Condos)
- Most accessible investment format for foreigners.
- Available in all major urban and resort cities.
- Must be part of a licensed commercial housing project.
🔹 Villas & Townhouses
- Available only within registered commercial or tourism developments.
- Stand-alone private villas or rural houses not in projects are generally not eligible.
🔹 Tourist and Resort Property
- Includes villas and condotels in areas like Phú Quốc, Nha Trang, Đà Nẵng.
- Subject to 50-year renewable leasehold.
- Projects often provide rental pool options yielding 5–7% gross annually.
🔹 Commercial Real Estate
- Office space, retail shops, and warehouses can be purchased through foreign-invested enterprises (FIEs).
- Requires an Investment Registration Certificate.
- Land tenure equals the project lifespan, typically 50 years.
🌍 Regional Property Market Analysis (2025)
📊 Market Price & Sales Volume Matrix
| City/Region | Avg. Price (USD/m²) | 2024–2025 Growth (%) | Notable Trends |
|---|---|---|---|
| Hanoi | $2,547 | +22.3% | Strong demand in secondary districts |
| HCMC | $3,148 | –2.5% | Stabilizing post-correction, low new supply |
| Đà Nẵng | $2,100 (est.) | +10–12% | Tourist-driven growth, mid-rise demand |
| Phú Quốc | $2,000–3,200 | +15–20% | Special economic zone attracting foreign capital |
| Nha Trang | $1,800–2,200 | +10–20% | High-end resorts and condotel growth |
| Bình Dương | $1,300–1,700 | +8–10% | Industrial-driven housing demand surge |
💰 Taxation, Fees & Transaction Costs (2025 Update)
🔹 One-Time Purchase Costs
- Registration Fee: 0.5% of property value
- Notarial Fee: Up to VND 10 million (~USD 400)
- Legal Fees: 1–2% of sale value (optional but recommended)
- Property Transfer Tax: 2% (paid by seller)
- Value-Added Tax (if new unit):
- 10% for commercial housing
- 5% for social housing
🔹 Annual & Exit Taxes
- Annual Land Tax: 0.03–0.15% of land value
- Rental Income Tax: 10% on gross (5% VAT + 5% PIT)
- Capital Gains Tax:
- 2% on sale value (default)
- 25% on actual profit (if documented)
🏦 Financing & Mortgage Options for Foreigners
🔹 Domestic Lending (Vietnamese Banks)
- Foreigners may borrow from banks like Vietcombank, ACB, BIDV, subject to:
- Valid long-term visa or work permit
- Proof of income or residency
- Minimum down payment: 30–50%
- Maximum LTV: 50–70%
- Interest rates: 6.5–9% annually, fixed 1–5 years
🔹 Alternatives
- Offshore funding via foreign bank lines (currency risk applies)
- Joint purchase with Vietnamese spouse (can increase loan eligibility)
- Payment plans from developers (usually for new builds)
🔎 Purchase Process: Step-by-Step for Foreign Buyers
- Preliminary Due Diligence
- Verify developer’s legal approvals and foreign quota availability
- Secure legal representation
- Reservation & Deposit
- Typical deposit: 10–20% of property value
- Sign booking or MoU
- Sale & Purchase Agreement (SPA)
- Notarized with local authorities
- Payment terms specified (staged payments possible)
- Official Registration
- Application for Pink Book (Certificate of Ownership)
- Final payment and handover
- Post-Purchase
- Pay service fees (condos: ~2% annually)
- Begin ownership period (up to 50 years, renewable)
📈 Return on Investment & Rental Yield Insights
🔹 Average Rental Yields by Region (2025)
| Location | Gross Yield (%) | Rental Demand Drivers |
|---|---|---|
| Hanoi | 3.5–4.2% | High expat population, limited supply |
| HCMC | 3.0–3.5% | Market saturation in some districts |
| Đà Nẵng | 3.8–4.5% | Short-term tourism, long-term retirees |
| Bình Dương | 4.5–5.2% | Industrial zones, tenant factory workers |
| Phú Quốc | 5–7% (seasonal) | Tourism-oriented rental programs |
- ROI is highest in industrial suburbs and tourist locations
- Capital appreciation is expected to rise 7–10% annually post-reform (Hanoi, Bình Dương)
🌐 Comparison with Other Southeast Asian Real Estate Markets
| Country | Freehold Ownership | Lease Duration | Foreign Ownership Cap | Minimum Investment | Key Advantage |
|---|---|---|---|---|---|
| Vietnam | No (structure only) | 50y (renewable) | 30% (condos), 250 houses | None | Low prices, fast growth |
| Thailand | Yes (condos only) | 30y (renewable) | 49% (condo building) | ~USD 80,000 | Easy process, freehold condos |
| Cambodia | No (except strata) | 50–99y | 70% (condo) | None | Easy access, long lease terms |
| Malaysia | Yes (above threshold) | Freehold | None | ~USD 130,000 | Freehold land, modern regulations |
| Philippines | No (land) | 50+25y | 40% condo | None | Stable legal structure |
🧠 Key Strategic Recommendations
- Engage Professionals: Legal and real estate experts are essential to navigate quota limits, lease terms, and zoning constraints.
- Consider Emerging Areas: Provinces like Bình Dương and Bắc Ninh offer high yields and rapid industrial expansion.
- Prepare Financially: Have documented funding ready; mortgage options are limited and selective.
- Understand Tenure Risk: Always plan for lease renewal 3–6 months before expiry.
- Use Dual Legal Review: Consider having both a foreign and Vietnamese legal advisor for major transactions.
📌 Conclusion: Is Vietnam Real Estate a Good Buy for Foreigners in 2025?
With an upgraded regulatory environment, a vibrant economy, and expanding infrastructure, Vietnam’s real estate market in 2025 presents strong long-term upside for foreign investors. Despite the inherent complexity of leasehold structures and ownership limits, the country’s favorable price-to-income ratios, strong rental yields in strategic regions, and booming industrial zones make it a compelling option compared to other Southeast Asian markets.
Best opportunities lie in:
- Hanoi’s expanding suburbs
- Bình Dương industrial housing
- Phú Quốc’s tourist developments
- Luxury condos in HCMC post-correction
Strategic investment backed by expert guidance will be key to success in this rapidly evolving market.
2. Vietnam’s Strategic Rise as a Real Estate Destination for Foreign Investors (2025 Edition)
Vietnam is rapidly establishing itself as one of Asia’s most attractive property markets for international investors. This ascension is driven by a potent mix of sustained economic growth, expanding urbanisation, competitive property pricing, and significant legal reforms implemented in 2024–2025. As Vietnam enters a new investment cycle in 2025, foreign real estate buyers are presented with unprecedented access and clarity regarding property acquisition laws and market opportunities.
This comprehensive analysis aims to decode the multilayered appeal of Vietnam’s real estate sector to foreign investors by examining its economic trajectory, legislative evolution, foreign direct investment trends, and market performance indicators.
📈 Macroeconomic Foundations Supporting Foreign Property Investment
🔹 Vietnam’s 2025 Economic Outlook
- Real GDP Growth: Forecasted at 6.5% in 2025, according to Oxford Economics.
- Among the highest in ASEAN, reinforcing long-term investment appeal.
- Driven by strong exports, digital infrastructure investment, and manufacturing expansion.
- Inflation Control: Maintained below 4.0%, providing monetary stability.
- Urbanization Rate: Over 39.5% in 2025, with projected acceleration in major provinces.
- Middle-Class Expansion: Vietnam now has 22 million middle-class citizens, projected to reach 33 million by 2030 (World Bank).
🔹 Investment Climate & Business Confidence
- Vietnam ranks 2nd in ASEAN for ease of doing business in real estate (behind Singapore).
- Foreign investment sentiment is buoyed by:
- New Land Law 2024: Clarifies land use rights and leasehold tenures.
- Streamlined real estate registration and licensing procedures.
- National Digital Land Registry (2025) launched to improve ownership transparency.
💸 Surge in Foreign Direct Investment: Real Estate in Focus
🔹 FDI Overview (H1 2025)
| Metric | Value (USD) | YoY Change |
|---|---|---|
| Total FDI Inflows (H1 2025) | $21.5 billion | +33% |
| Real Estate FDI | $5.17 billion | +108% |
| Real Estate Share of Total FDI | 24.0% | Highest in a decade |
- The real estate sector now ranks 2nd among all sectors for inbound FDI, only after manufacturing.
- Foreign developers are expanding project pipelines in key economic corridors and tourist zones.
🔹 Leading Source Countries (H1 2025)
| Country | Capital Deployed (USD) | % of Total FDI | Dominant Sectors |
|---|---|---|---|
| Singapore | $4.6 billion | 21.4% | Real estate, fintech, smart cities |
| South Korea | $3.3 billion | 15.3% | Industrial parks, housing projects |
| China | $2.8 billion | 13% | Logistics, tourism properties |
| Japan | $2.1 billion | 9.8% | High-end mixed-use developments |
| Malaysia | $1.9 billion | 8.8% | Resort and condotel investments |
- Asian investors dominate, accounting for over 62.8% of project volume and 65% of capital registration.
- Investment flow is being redirected from saturated markets like Thailand or Hong Kong into Vietnam’s untapped suburban hubs and coastal tourism zones.
🏠 Real Estate Market Dynamics: Sales, Supply, and Absorption
🔹 Residential Market Performance (2024–2025)
| Metric | Value | Notes |
|---|---|---|
| Total Transactions (2024) | 47,000 units | Significant increase from 2023 figures |
| Absorption Rate (2024) | 72% | Indicates strong buyer confidence |
| Foreign Buyer Participation | Estimated 12% | Expected to reach 15–18% by end-2025 |
| Dominant Product Type | Condominiums (74%) | Preferred for leasehold structure and liquidity |
- High-end and mid-range condominiums are leading in transaction volume, especially in Hanoi, Bình Dương, and Da Nang.
- The absorption rate above 70% reflects a tightening market, suggesting incoming supply will be quickly taken up.
🔹 Regional Market Activity
| Region | Active Projects | Avg. Price (USD/m²) | Growth YoY (%) | Buyer Segment |
|---|---|---|---|---|
| Hanoi | 158 | $2,547 | +22.3% | Foreigners, local professionals |
| HCMC | 145 | $3,148 | –2.5% | Expats, overseas Vietnamese |
| Đà Nẵng | 72 | $2,100 | +10.7% | Tourism-led investors |
| Bình Dương | 81 | $1,350 | +9.2% | Industrial workers, Singaporean firms |
| Phú Quốc | 44 | $3,200 | +18% | Hotel-backed foreign investors |
- Hanoi’s urban sprawl is enabling more foreign access to satellite zones like Đông Anh and Gia Lâm.
- Southern industrial zones (Bình Dương, Long An) are emerging as high-yield rental property hotspots.
📊 Investment Climate Matrix: Why Vietnam Appeals in 2025
| Investment Factor | Score (1–5) | Remarks |
|---|---|---|
| Legal Transparency | 4.0 | Major improvement post-2024 reforms |
| Economic Stability | 4.5 | Resilient amid global headwinds |
| Entry Price (Affordability) | 4.3 | Lower than Thailand, Malaysia, Indonesia |
| Rental Yields | 4.0 | 3.5–7% depending on location and asset class |
| Foreign Buyer Accessibility | 3.8 | Still subject to quota restrictions, but streamlined |
| Long-term Capital Growth Potential | 4.6 | Forecasted 8–10% annual growth in metro expansion zones |
🔍 Key Trends Shaping the 2025 Property Market for Foreigners
🔹 Legislative Acceleration
- Implementation of:
- Land Law 2024: Distinguishes clearly between land-use and structure ownership.
- Real Estate Business Law: Introduces developer accountability and buyer protection mechanisms.
- Digital Ownership Registry: Speeds up Pink Book issuance and ownership verification.
🔹 Shifting Market Composition
- Condominiums dominate, but luxury landed homes in approved projects are gaining popularity.
- Branded residences and condotels in Phú Quốc and Đà Nẵng becoming popular among foreign investors seeking hybrid use and passive income.
🔹 Changing Buyer Demographics
- Growing presence of digital nomads, long-term retirees, and overseas Vietnamese (Việt kiều).
- Foreign buyers increasingly view Vietnam not only as a short-term ROI market, but also as a long-stay or second-home destination.
🧠 Conclusion: Strategic Timing and Opportunity for Foreign Real Estate Investors
Vietnam’s real estate sector in 2025 is undergoing a structural transformation — legally, economically, and demographically. Foreign buyers now benefit from unprecedented regulatory clarity, macro-stability, and comparative affordability in a region where many neighboring markets are tightening or becoming saturated.
Key takeaways for foreign investors:
- Vietnam offers real estate entry points 30–50% cheaper than regional peers.
- Rental yields in tourism and industrial zones surpass 5%, making Vietnam competitive with Indonesia and Cambodia.
- Foreign ownership quotas remain in place, but are now more transparent and easier to navigate.
As the market enters a new cycle of development marked by increased transparency, surging foreign capital, and improved infrastructure, 2025 represents a strategic window for early movers seeking capital appreciation, rental income, or lifestyle migration in Vietnam.
3. Legal Framework for Foreign Property Ownership in Vietnam: In-Depth 2025 Analysis
Vietnam’s real estate sector in 2025 operates under an enhanced and more transparent legal regime, making it increasingly accessible to foreign investors. However, despite recent liberalisations, the legal environment remains layered and nuanced, particularly concerning land tenure, ownership rights, and eligibility conditions. With the Land Law (2024), Housing Law (2023), and Law on Real Estate Business (2023) officially in force from August 1, 2024, Vietnam’s property landscape has been restructured to balance openness with regulatory oversight.
📜 A. Landmark Legislative Changes and Strategic Implications
The most recent amendments represent a deliberate pivot towards liberalisation while maintaining sovereign control over land resources.
🔹 Notable Legal Developments (Effective August 1, 2024)
- Cross-border Ownership Rights:
- Foreigners are now legally permitted to buy, sell, and transfer residential properties among themselves.
- This development substantially increases market liquidity and exit flexibility.
- Expanded Rights for Overseas Vietnamese (Viet Kieu):
- Permitted to own, lease, and inherit houses with attached land.
- Eligible to acquire land-use rights (LURs) in approved housing projects.
- May inherit residential and other land associated with a property.
- Market Signaling:
- These reforms are framed as a legal foundation for Vietnam’s “next growth cycle” in real estate investment.
- Recognised by international observers as a move towards alignment with global investor expectations.
🧾 B. Foreign Buyer Eligibility: Legal Entry Requirements
Understanding who qualifies to buy property in Vietnam is critical to ensuring transaction validity.
🔹 Criteria for Foreign Individuals
- Must possess a valid foreign passport acknowledged by the Vietnamese authorities.
- Proof of legal entry into Vietnam (visa stamp or residence card) is mandatory at the time of transaction.
- Cannot be entitled to diplomatic or consular immunities (confirmed by declaration).
- No work permit is required, but identification and immigration documentation are essential.
🔹 Criteria for Overseas Vietnamese
| Viet Kieu Status | Legal Standing |
|---|---|
| Retains Vietnamese citizenship | Treated as domestic citizens for land and property rights |
| Does not hold citizenship | Requires valid foreign passport + Vietnam entry stamp |
- Those without citizenship must comply with foreign ownership laws, including LUR restrictions.
🧱 C. Land Use Rights (LURs) vs. Property Ownership: Legal Dichotomy
Vietnam maintains a state-monopoly land ownership model, where private land ownership is constitutionally prohibited.
🔹 Land Ownership Structure
| Component | Legal Status for Foreigners |
|---|---|
| Land Itself | State-owned; not transferrable to foreign entities |
| Structures on Land | Foreigners may own residential housing (e.g., apartments) |
| Land Use Rights (LURs) | Leased for up to 50 years; transferrable under conditions |
- Foreigners acquire land indirectly by obtaining LURs via lease agreements from developers or local authorities.
🔹 Legal Implications
- Land-Structure Distinction:
- Ownership applies to the structure, not the land beneath.
- This bifurcation may affect financing, resale, and inheritance processes.
- Inheritance Clause:
- If a foreigner inherits a plot of land, they must transfer the LUR to an eligible Vietnamese party.
- The inheritor may only monetize the asset, not retain legal ownership.
📄 D. Ownership Duration, Extensions, and Special Conditions
🔹 Standard Ownership Tenure
- Duration: 50 years from the date of ownership certification (Pink Book).
- Extension: Renewable once for an additional 50 years (total 100 years).
- Application must be filed at least 90 days prior to expiry.
- Extension subject to government approval and legal compliance.
🔹 Exception for Spouses of Vietnamese Citizens
- Foreigners married to Vietnamese nationals or Viet Kieu are granted indefinite ownership terms.
- These individuals enjoy full housing rights equivalent to domestic citizens.
- Encourages long-term settlement, investment, and demographic integration.
🏠 E. Eligible Property Types for Foreign Acquisition
Foreign individuals are permitted to own residential properties within commercial housing projects licensed by competent authorities.
🔹 Permitted Assets
- Apartments (condominiums)
- Detached villas (within approved developments)
- Townhouses (project-based)
- Officetels and condotels (project-specific basis)
🔹 Restrictions
| Property Type | Eligibility for Foreigners |
|---|---|
| Standalone rural houses | Not eligible |
| Landed homes outside projects | Not eligible |
| Industrial or warehouse land | Only through foreign-invested enterprises |
| Condotels | Regulated differently across localities |
- Foreign-owned companies can lease land for commercial or industrial purposes for up to 50 years, extendable depending on project type.
📊 F. Ownership Quotas & Geographic Restrictions
To prevent over-concentration and maintain market balance, Vietnam enforces quantitative limits and geographic controls on foreign ownership.
🔹 Ownership Quotas
| Asset Category | Ownership Cap |
|---|---|
| Apartment Building | Up to 30% of total units |
| Multiple Buildings in Ward | Combined 30% cap across all structures |
| Landed Houses (Project) | Maximum of 10% of total units |
| Landed Houses (Ward) | Not more than 250 units per ward-equivalent area |
- Once the quota is reached, foreign ownership is frozen, even if additional units are unsold.
- High demand has led to instant quota exhaustion in premium developments (e.g., District 2, HCMC).
🔹 Security and Zoning Restrictions
- Property purchases prohibited near military, government, or defense-sensitive areas.
- Approvals by provincial construction departments are mandatory for all foreign transactions.
- Quota usage and project eligibility are publicly disclosed via Department of Construction websites.
📌 Table 1: Legal Snapshot of Foreign Property Ownership in Vietnam (2025)
| Legal Feature | Provision for Foreign Individuals (2025) |
|---|---|
| Land Ownership | Not permitted; only lease-based Land Use Rights (LURs) allowed |
| Structure Ownership | Permitted within licensed commercial housing projects |
| Ownership Duration | 50 years, renewable once for up to 50 more years |
| Indefinite Ownership | Allowed if married to a Vietnamese national or Viet Kieu |
| Apartment Ownership Quota | 30% of units per building; 30% total across ward’s multiple buildings |
| Landed Property Quota | 10% per project or up to 250 houses per ward-equivalent zone |
| Geographic Restrictions | Prohibited in defense/security zones |
| Resale Rights | Foreigners may legally sell to fellow foreigners |
| Inheritance | Must transfer LUR; only structure or monetary value can be inherited by foreigners |
📉 Implications and Strategic Considerations for Investors
- Quota saturation in urban centres leads to scarce supply and price premiums on foreign-eligible units.
- Legal asymmetry between structure ownership and LUR may impact mortgaging, resale, and succession planning.
- Government emphasis on national security zoning may hinder availability in strategic coastal or border zones.
- Mixed-nationality families have a strategic advantage, gaining indefinite property rights and expanded legal access.
- Developers with pre-approved quotas for foreigners hold a commercial edge in attracting international capital.
✅ Final Takeaway: A Balanced Legal Environment with Growth-Oriented Reforms
Vietnam’s legal architecture for foreign property ownership in 2025 reflects a deliberate blend of progressive openness and sovereign land control. While structural limitations persist—particularly around land ownership and quota enforcement—the legal recognition of foreign resale rights, expansion of Viet Kieu entitlements, and digitisation of the ownership registry mark significant leaps forward.
For foreign investors, understanding this legal terrain is not merely a formality—it is a strategic imperative for portfolio resilience, legal compliance, and value preservation. As the legal framework evolves alongside market dynamics, those equipped with local legal counsel and policy awareness will be best positioned to capitalise on Vietnam’s rising global real estate stature.
4. Comprehensive Property Acquisition Guide for Foreign Buyers in Vietnam (2025 Edition)
In 2025, Vietnam’s evolving real estate landscape presents a compelling opportunity for foreign investors, yet the process of acquiring property remains procedurally complex and legally nuanced. Navigating this environment requires a structured, multi-stage approach underpinned by thorough due diligence and compliance with legal protocols. While the Vietnamese government has taken significant strides to streamline and formalize the process, practical execution still poses notable challenges, especially for non-resident investors unfamiliar with local laws.
This section provides a strategic, step-by-step roadmap for foreign individuals seeking to invest in Vietnamese real estate—combining legal insight, procedural clarity, and market intelligence.
🔍 A. Pre-Purchase Due Diligence: Foundation of Risk Mitigation
Although not legally mandatory, due diligence is indispensable for safeguarding against legal, financial, and structural risks. It is especially vital in a transitional market like Vietnam, where legal enforcement can vary by locality.
🔹 1. Legal Due Diligence
- Verify Ownership Eligibility:
- Confirm whether the project is open to foreign ownership and within the allowable quota (30% for apartments, 10% for landed houses).
- Land Use Right (LUR) Certificate:
- Ensure the LUR is valid, transferable, and aligned with project zoning laws.
- Title Verification:
- Conduct a title search through the Local Land Registry Office to detect encumbrances, disputes, or claims.
- Legal Compliance Checks:
- Ensure all permits (construction, environmental, fire safety) are in place and valid.
- Review of Contracts:
- Scrutinize SPA clauses, default conditions, penalties, and enforcement jurisdiction under Vietnamese law.
🔹 2. Financial Due Diligence
- Valuation Audit:
- Conduct an independent property appraisal to ensure fair market pricing.
- Tax Risk Assessment:
- Review developer or seller’s tax records to confirm no outstanding liabilities.
- Debt Verification:
- Examine for any existing mortgages, liens, or financial encumbrances on the property.
🔹 3. Technical Due Diligence
- Property Inspection:
- Hire qualified engineers/architects to evaluate construction quality and structural soundness.
- Code Compliance:
- Verify adherence to Vietnamese building codes, fire regulations, and earthquake resistance standards.
- Systems Audit:
- Evaluate electrical, plumbing, mechanical, and HVAC systems for long-term viability.
🔹 4. Fraud Risk Mitigation
- Common Red Flags:
- Fake listings, agents without authority, deposits collected without documentation.
- Trusted Sources:
- Cross-reference listings via the Department of Construction, developer websites, and notarized public records.
- Professional Representation:
- Employ licensed real estate consultants and legal counsel experienced with foreign transactions.
📑 B. Property Acquisition Process: A Legal and Procedural Timeline
Once due diligence is complete, buyers must navigate a legally binding process governed by Vietnam’s Housing and Real Estate Business Laws.
🔹 Step-by-Step Breakdown
| Step | Description | Notes |
|---|---|---|
| 1 | Select a Property | Confirm it is within a commercial housing project and under the foreign ownership quota. |
| 2 | Sales and Purchase Agreement (SPA) | Includes property details, payment structure, completion timeline, and penalty clauses. |
| 3 | Notarization or Contract Certification | Notarized by a licensed agency or certified by a commune-level People’s Committee. |
| 4 | Payment Process | Must be made in Vietnamese Dong (VND) through a licensed local credit institution. |
| 5 | Ownership Registration | Submit notarized SPA, ID documents, payment proof, and eligibility declarations. |
| 6 | Obtain the “Pink Book” (Certificate of Ownership) | Final confirmation of ownership; issued by the Land Registration Office. |
🔹 Legal Formalities
- SPA Notarization:
- Mandatory under Housing Law 2023; enhances enforceability and prevents fraud.
- Payment Tracking:
- Required via a Vietnam-based bank to ensure transparency under Anti-Money Laundering (AML) compliance.
- Tax Registration:
- Mandatory for both buyers and sellers to register with the local tax office before ownership certification.
📁 C. Documentation Checklist: Foreign Buyer Requirements
The legal documentation required is comprehensive and varies slightly depending on the buyer’s residency status and nationality.
🔹 Standard Requirements for Foreign Individuals
| Document Type | Purpose |
|---|---|
| Valid Foreign Passport | Identity and eligibility verification |
| Valid Visa or Temporary Residence Card | Legal entry confirmation at time of transaction |
| Non-Diplomatic Status Declaration | Confirms ineligibility for consular privileges |
| Proof of Funds / Bank Statement | Verifies financial capacity |
| Sales and Purchase Agreement (SPA) | Legally binds buyer and seller |
| Payment Receipts | Confirms monetary transaction completed via local bank |
| Property Ownership Certificate (if resale) | For second-hand property purchases |
| Land Use Certificate (if applicable) | Verifies right to use the land for property |
🔹 Additional Requirements for Overseas Vietnamese (Viet Kieu)
| Document Type | Specific Conditions |
|---|---|
| Vietnamese Passport with Entry Stamp | Full rights granted under new Housing Law |
| Foreign Passport with Certification of Origin | Must be issued by Vietnamese diplomatic mission abroad |
📊 Summary Table: Legal & Transactional Milestones
| Stage | Required Actions | Responsible Party |
|---|---|---|
| Pre-Investment Research | Legal, financial, and technical due diligence | Buyer + Legal Advisor |
| Offer and Contracting | Sign and notarize Sales and Purchase Agreement (SPA) | Buyer + Seller + Notary |
| Payment Execution | Pay through licensed Vietnamese bank in VND | Buyer |
| Property Registration | Submit documents to Department of Natural Resources and Environment (DoNRE) | Buyer |
| Ownership Certification | Receive “Pink Book” from Land Registration Office | Government Authority |
📌 Key Takeaways for Foreign Property Investors in 2025
- Vietnam’s acquisition process is increasingly systematized but not yet frictionless.
- Formalization via notarization and VND-only bank transfers is a deliberate policy to reduce legal ambiguity.
- Due diligence remains the most critical safeguard given the persistence of inconsistencies in implementation and agent misrepresentation.
- Working with licensed professionals—real estate agents, notaries, tax consultants, and legal counsel—is not optional; it’s essential.
5. Financial Framework for Foreign Property Investment in Vietnam (2025 Guide)
In the context of Vietnam’s increasingly liberalized but still closely regulated property market, understanding the full scope of financial obligations—including taxes, transaction fees, and financing avenues—is essential for any foreign investor seeking long-term profitability and legal compliance. While entry costs remain relatively competitive compared to regional peers, cumulative fees and restricted mortgage access can significantly impact the total investment yield.
This section provides a comprehensive breakdown of the financial ecosystem foreign buyers will engage with in Vietnam’s 2025 real estate environment.
🧾 A. Taxation & Regulatory Fees: Property Lifecycle Cost Structure
Foreigners purchasing property in Vietnam are subject to a series of tax liabilities and administrative fees, spanning acquisition, ownership, rental income, and resale. These costs, although generally predictable, require early planning for capital allocation and post-purchase budgeting.
🔹 Breakdown of Tax Liabilities & Associated Fees (2025)
| Tax/Fee Type | Rate | Calculation Basis | When Payable |
|---|---|---|---|
| Value Added Tax (VAT) | 10% | Total property purchase price (new properties only) | Upon purchase |
| Registration Fee | 0.5% | Assessed property value | Upon issuance of Pink Book |
| Maintenance / Sinking Fund | 2% | Apartment value (before VAT) | At handover or contract signing |
| Capital Gains Tax (Resale) | 2% | Final sale or transfer price | At point of resale |
| Rental Income Tax | 10% | Total gross rental income | Paid quarterly or annually |
| Business License Tax | VND 1 million/year | Rental income > VND 100 million/year | Annually (if applicable) |
🔹 Interpretation & Investment Impact
- VAT & Registration Fees:
- These are entry costs that must be factored into initial capital outlay and influence breakeven timelines for resales.
- Sinking Fund:
- Typically applied in condominiums; this fund helps maintain building integrity and resale attractiveness.
- Rental Taxation:
- Foreign landlords must comply with both VAT and PIT, effectively taxing 10% of gross rental returns.
- Capital Gains Tax:
- A flat 2% on sale value—not profits—can disadvantage high-turnover strategies, favoring long-hold investors.
🏦 B. Financing Options for Foreign Property Buyers
Financing is one of the most complex aspects of foreign real estate investment in Vietnam due to ownership restrictions and limited mortgage accessibility. Banks are highly cautious, particularly with properties under foreign names, owing to their limited ability to repossess or enforce foreclosure under current law.
🔹 Local Mortgage Constraints
- Collateral Risk Perception:
- Foreigners cannot hold land ownership—only Land Use Rights (LURs)—making enforcement of collateral challenging.
- Eligibility Barriers:
- Most banks require legal residency, a work permit, or a traceable local income source.
- Risk Profile:
- Vietnamese banks classify foreign mortgage applications as high risk, reducing loan approval rates.
🔹 Viable Financing Workarounds
| Method | Description | Risk Profile | Key Considerations |
|---|---|---|---|
| Overseas Mortgage | Secure real estate or personal loan from home-country bank | Moderate | Currency exposure; may require assets or income proof abroad |
| Foreign-Owned Company | Establish a 100% foreign-owned enterprise to purchase property | Low–Moderate | Higher compliance burden but fewer ownership caps |
| Co-Investment with Vietnamese Partner | Joint ownership under local partner’s name with legal protection clauses | High | Legally complex and carries substantial trust dependency |
📉 C. Illustrative Mortgage Packages for Foreigners (2025)
Despite local constraints, international banks operating within Vietnam offer limited home loan programs for qualifying foreign buyers. These institutions cater to niche investor profiles—usually long-term residents, expatriates, or foreigners married to Vietnamese nationals.
🔹 Comparative Matrix of Mortgage Products
| Bank | Loan-to-Value | Interest Rate (Fixed) | Loan Tenor | Key Conditions |
|---|---|---|---|---|
| HSBC Vietnam | Up to 70% | 5.50% – 8.99% (6–60 months) | Up to 25 years | Post-fixed rate: Prime Rate (10.75–11.5%) + Margin |
| Woori Bank Vietnam | Up to 80% | 5.6% (Yr 1), up to 6.2% (Yr 3) | Up to 30 years | Requires minimum 6-month employment at current company |
| Standard Chartered VN | Up to 75% | Case-based (approx. 6–9%) | Up to 25 years | Foreigners must have a Vietnamese spouse or long-term visa |
| HL Bank Vietnam | Min VND 400M | 6.3% (Yr 1), rising to 6.9% | Min 5 years | Early repayment fees decline from 3% to 0% over 5 years |
🔹 Early Repayment Structures
| Bank | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5+ |
|---|---|---|---|---|---|
| HSBC Vietnam | 4% | 3% | 2% | 1% | 0% |
| HL Bank Vietnam | 3% | 2% | 1% | 0.5% | 0% |
🧾 D. Mortgage Eligibility for Overseas Vietnamese (Việt Kiều)
Việt Kiều hold a unique position in Vietnam’s property financing framework due to their partial legal affiliation with the state.
🔹 Rights & Documentation
| Status | Mortgage Access | Conditions |
|---|---|---|
| Retaining Vietnamese Citizenship | Full mortgage rights | Same access as domestic buyers |
| Foreign Passport with Certified Origin | Limited mortgage access | Can mortgage house + land use rights only as one package |
🔹 Required Documentation
- Valid passport (with Vietnam entry stamp)
- Proof of income (e.g., employment contract, salary slips, overseas remittance records)
- Land Use Rights certificate (Pink Book)
- Credit history and tax clearance (for corporate purchases)
📊 Summary Chart: Real Estate Cost + Financing Overview for Foreign Buyers
| Category | Details (2025) |
|---|---|
| Upfront Taxes & Fees | 10% VAT + 0.5% Registration Fee + 2% Maintenance Fund |
| Resale & Rental Tax | 2% CGT on sale + 10% rental income tax |
| Local Loan Access | Highly restricted; available only via select banks |
| Foreign Loan Options | Available via overseas banks or corporate structure |
| Việt Kiều Access | Enhanced, especially with Vietnamese citizenship |
| Mortgage Interest Range | 5.5% – 8.99% fixed + variable post-fixed Prime Rate |
🏁 Final Insights: Cost Strategy and Financial Due Diligence
- Foreign buyers must account for transactional friction costs—taxes, fees, and maintenance obligations—that impact net returns.
- Mortgage eligibility is inconsistent and limited, requiring alternative strategies such as overseas loans or incorporation.
- Due diligence in both financing and taxation is non-negotiable to avoid unexpected fiscal burdens or legal complications.
- Strategic planning is essential, particularly when leveraging rental income or planning future resale.
6. Vietnam’s Real Estate Market Outlook 2025: Strategic Insights and Investor Opportunities
Vietnam’s real estate market in 2025 reflects a notable transformation shaped by macroeconomic resilience, accelerating foreign direct investment (FDI), and legal reforms aimed at liberalizing foreign ownership. For global investors seeking entry into Southeast Asia’s property landscape, Vietnam presents a unique blend of stability, growth potential, and sectoral dynamism. This section offers a detailed assessment of the economic underpinnings, regional investment patterns, and key market drivers influencing real estate opportunities in Vietnam in 2025.
🌍 Macroeconomic Foundations: Growth Momentum and Investor Sentiment
Vietnam’s economy has entered 2025 on strong footing, building upon its post-pandemic rebound with notable consistency. The following macroeconomic indicators provide a foundation for rising property demand and capital inflows:
🔹 Key Macroeconomic Indicators (Q1–H1 2025)
| Metric | Value (2025) | Interpretation |
|---|---|---|
| Real GDP Growth (Q1 2025) | 6.9% YoY | Highest quarterly performance since 2020 |
| Consumer Price Index (CPI) | 3.2% YoY increase | Moderate inflation—supports consumer and investor demand |
| Export-Import Growth | Double-digit YoY increases | Sign of robust industrial activity |
| Tourism Recovery Rate | 88% of pre-pandemic levels | Drives residential and hospitality demand |
| Private Consumption Index | +5.7% YoY | Reflects expanding domestic middle class |
🔹 Implications for Real Estate
- Strong GDP and consumption growth stimulate residential, commercial, and retail real estate demand.
- Stable inflation and positive fiscal outlook offer predictable pricing environments for developers and buyers.
- Increased tourism directly fuels hospitality projects and condotel investments, especially in coastal cities.
💼 Foreign Direct Investment (FDI): Capital Influx Reshaping Real Estate Dynamics
FDI continues to play a transformative role in Vietnam’s real estate landscape, not only in terms of financial volume but also in guiding where and how development takes place.
🔹 FDI Inflows: Sector & Regional Breakdown (H1 2025)
| FDI Category | Amount (USD) | Share of National Total | YoY Growth |
|---|---|---|---|
| Total FDI (All Sectors) | $21.51 billion | 100% | +32.6% |
| Real Estate FDI | $5.17 billion | 24% | +105.6% |
| Manufacturing FDI | $8.9 billion | 41.4% | +18.3% |
| Top FDI Sources (Country) | Capital (USD) | % Share |
|---|---|---|
| Singapore | $4.6 billion | 21.4% |
| South Korea, Japan, China | Combined ~ $6.6 billion | ~30% |
| Top FDI Destinations (City) | Capital (USD) | % Share of Total |
|---|---|---|
| Hanoi | $3.66 billion | 17% (2.8x YoY growth) |
| Ho Chi Minh City | $2.7 billion | 12.6% (2x YoY growth) |
| Binh Duong & Bac Ninh | ~$2.5 billion combined | Key industrial and logistics hubs |
🔹 Sectoral Highlights
- The 24% real estate share of FDI marks a historic high—more than doubling the inflows from the same period in 2024.
- Singapore’s dominance as an investor reflects confidence in legal reforms and long-term returns, particularly in luxury, office, and mixed-use segments.
- Investment hubs like Hanoi and Ho Chi Minh City remain attractive due to established infrastructure and international connectivity.
- Industrial zones near Hanoi and in Binh Duong are benefiting from shifting global supply chains and nearshoring trends.
🏙️ Real Estate Development Trends: Urbanization and Sector Expansion
Driven by demographics, urban migration, and foreign investment, Vietnam’s property market is evolving into distinct submarkets with targeted opportunities.
🔹 Residential Sector
- Over 47,000 transactions recorded in 2024, with an absorption rate of 72%.
- Condominiums made up 75% of transactions, indicating continued urban density and foreign buyer interest.
- Key growth drivers:
- Legal reforms allowing greater foreign resale rights
- Emerging middle-class demand for suburban housing
- Shortage in supply due to delayed construction approvals
🔹 Commercial and Office Space
- A-grade office absorption in Hanoi and HCMC exceeds 90%, with rising rental yields (approx. 8%).
- High-end mixed-use developments are increasingly financed by foreign-invested funds, especially in Q2 and Q3 2025.
🔹 Industrial & Logistics Real Estate
- Post-COVID supply chain diversification has made Vietnam a preferred alternative to China.
- Occupancy rates in industrial parks exceeded 85% nationally in H1 2025.
- Boom in logistics warehousing and cold chain storage in areas like Bac Ninh, Dong Nai, and Hai Phong.
📌 Market Sentiment and Policy Confidence
Vietnam’s legal reforms, particularly those enacted on August 1, 2024, have enhanced clarity on foreign ownership, boosting investor trust.
🔹 Policy Enhancements Fueling Investment
- Legal recognition of foreign resale rights = higher liquidity
- Extension of LURs for overseas Vietnamese = permanent settlement prospects
- Consolidation of administrative processes = shorter transaction timelines
- Increased FDI transparency reporting on Department of Construction websites
🔹 Investor Confidence Matrix (2025)
| Confidence Drivers | Rating | Notes |
|---|---|---|
| Legal Reforms for Foreign Ownership | High | Resale rights and inheritance laws now clarified |
| Economic & GDP Growth | High | Vietnam outperforms ASEAN peers |
| Access to Financing | Moderate | Limited local loans, but international options expanding |
| Regulatory Complexity | Moderate–High | Still a challenge; requires legal due diligence |
| Infrastructure and Connectivity Projects | High | New expressways, metro systems enhancing urban linkages |
🧭 Strategic Outlook for Investors: Where to Focus in 2025
🔹 High-Potential Markets
| Region | Opportunity Focus | Notable Trends |
|---|---|---|
| Hanoi | Luxury Condos, Mixed-use, FDI-driven zones | Leading in new FDI inflows and high transaction volume |
| Ho Chi Minh City | Office Redevelopment, Condotel Resales | Tight supply pushing prices upward |
| Binh Duong | Industrial Parks, Worker Housing | Global manufacturers relocating supply chain |
| Da Nang | Tourism-linked Resorts, Retirement Property | Boost from international flights and hotel expansion |
| Hai Phong | Logistics Warehousing, Seaport Infrastructure | Strategic shipping gateway |
🧠 Final Analysis: Vietnam’s Market Enters a Maturing Phase
The Vietnamese real estate market in 2025 is not just growing—it is maturing. With over $5.17 billion in real estate FDI and solid macroeconomic tailwinds, Vietnam now competes with regional powerhouses like Thailand and Malaysia for investor attention.
For foreign investors, 2025 represents a window of strategic entry, especially as legal frameworks stabilize and secondary market liquidity improves. However, the nuanced regulatory environment, city-by-city investment logic, and tax implications mean that successful investment requires both local expertise and macro-level foresight.
7. Residential Property Market Analysis in Vietnam (2025): Supply, Demand, and Buyer Behavior
In 2025, Vietnam’s residential real estate market presents a complex yet compelling picture of regional disparities, generational shifts in demand, and cautious optimism among developers. For foreign investors evaluating entry points or portfolio expansion within Vietnam, understanding the dynamics of supply, demand, and product segmentation is vital to strategic decision-making.
🔍 Supply and Demand Dynamics: Regional Disparities and Market Behavior
Vietnam’s two largest urban centers—Ho Chi Minh City (HCMC) and Hanoi—continue to drive residential activity, albeit with contrasting trends. Market momentum is influenced by factors such as delayed project approvals, urban zoning constraints, shifting buyer preferences, and legal reforms post-August 2024.
📊 Comparative Apartment Market Snapshot (Q1 2025)
| Metric | Ho Chi Minh City | Hanoi |
|---|---|---|
| New Apartment Launches | ~800 units (↓70% QoQ; ↑29% YoY) | 7,914 units sold (↑49% YoY) |
| Total Primary Stock | ~5,000 units | Forecast: >8,000 units (Q2 2025) |
| Absorption Rate (Avg.) | 23% (General) | 87% (Estimated for new launches) |
| Absorption in Prime Projects | Up to 61% | Strong demand in Grade B segment |
| Forecast Supply (2025) | ~10,000 apartments | Potentially >25,000 units |
| Dominant Segment | Class B (~54% of supply) | Grade B (98% of sales) |
🏙️ Ho Chi Minh City (HCMC): Limited Launches, Selective Demand
- New Supply Constraints:
- Only ~800 units launched in Q1 2025, a steep 70% drop from Q4 2024.
- Total primary inventory reached ~5,000 units—indicating a supply bottleneck.
- Buyer Selectivity Evident:
- Overall absorption rate remained low at 23%.
- However, prime legal-clear projects achieved up to 61% take-up, revealing investor emphasis on legal certainty and location.
- 2025 Outlook:
- Total expected launches to exceed 10,000 units.
- Class B segment to dominate, reflecting affordability pressures and urban migration trends.
🏗️ Hanoi: Resilient Demand and Strong Momentum
- Robust Sales Activity:
- Q1 2025 sales reached 7,914 units—up 49% YoY, despite being 41% lower than Q4 2024 due to seasonal slowdown.
- Q3 2024 recorded 6,840 apartment sales (↑35% QoQ, ↑226% YoY).
- Villa and Townhouse Boom:
- 326 villa/townhouse units sold in Q3 2024—a staggering ↑194% QoQ and ↑223% YoY.
- Absorption rate climbed to 48%, driven by landed housing demand.
- Forward-Looking Supply:
- Over 8,000 new apartment units projected in Q2 2025.
- Full-year 2025 apartment launches likely to exceed 25,000 units.
🧑💼 Evolving Buyer Demographics: Rise of Millennial & Gen Z Demand
Vietnam’s housing market is undergoing a demographic transformation, as younger generations enter their peak home-buying years. This evolution reshapes housing preferences and drives demand for modern, connected, and mid-priced units.
🔹 Key Demographic Insights (2025)
- Ages 18–34:
- Represent 27% of projected housing demand over the next two years.
- Display preferences for tech-integrated, energy-efficient, and well-located urban housing.
- Prefer Class B and smart apartments in emerging satellite districts of Hanoi and HCMC.
- Investor Activity:
- Increasing foreign buyer interest in Class B properties with long-term leasing or resale potential.
- Developers are targeting this cohort with flexible payment plans, co-living layouts, and digital financing solutions.
📈 National Sales Performance Overview: Transaction Trends
Despite challenges, Vietnam’s national housing transaction volumes remain strong, reflecting pent-up demand and legal clarity improving post-August 2024.
📊 Transaction Volume Summary (2024–Q1 2025)
| Transaction Type | Volume (Q1 2025) | Growth vs. Q4 2024 | Annual Change |
|---|---|---|---|
| Apartments & Individual Houses | 33,585 | ↑132% | Moderate YoY increase |
| Land Plots | 101,049 | ↑116.4% | Reflects suburban speculation |
| Total Residential Transactions (2024) | 125,545 | ↓1.5% from 2023 | Slight market correction |
🧭 Strategic Implications for Foreign Buyers in 2025
Foreign investors should closely analyze city-specific trends, especially legal clarity and product segmentation, to identify favorable entry points.
🛠️ Investment Recommendations:
- Prioritize Projects with Legal Clarity:
- Strong demand is centered around developments with Pink Book availability and foreign ownership approval.
- Class B Segment Is Key:
- Dominant across both HCMC and Hanoi; offers ideal price-to-quality ratio for rental yield and capital appreciation.
- Explore Townhouses & Villas in Hanoi:
- Increasing absorption rates suggest untapped opportunities in suburban districts like Gia Lam and Hoai Duc.
- Monitor Launch Timelines:
- Delays in licensing and approvals may create short-term scarcity, pushing up resale values for legally ready units.
🧾 Summary Table: 2025 Residential Market Insights by Region
| City | New Launches (Q1 2025) | Absorption Rate | 2025 Forecast Supply | Key Segment | Investor Tip |
|---|---|---|---|---|---|
| HCMC | ~800 units | 23% (Avg), 61% (Prime) | ~10,000 units | Class B (54%) | Focus on prime legal-status projects |
| Hanoi | 7,914 units sold | 87% (Est.) | >25,000 units | Grade B (98%) | Explore villas/townhouses in periphery |
| Da Nang | Moderate | 42% (2024 Est.) | ~3,000 units | Condotels/Vacation Units | Ideal for tourism-driven investment |
| Binh Duong | Growing | 66% (2024 Est.) | >5,000 units | Worker Housing | Industrial-linked rental opportunities |
8. Property Price Trends & Forecasts (Vietnam 2025): A Regional and Strategic Investor Analysis
In 2025, Vietnam’s residential real estate market demonstrates strong bifurcation between its two key metropolises—Hanoi and Ho Chi Minh City (HCMC). Each city exhibits unique price dynamics, absorption patterns, and demand drivers, underscoring the necessity for region-specific investment strategies. The following analysis outlines price trends across primary and secondary markets and offers a forecast grounded in both government-backed data and institutional projections.
🔍 Regional Price Dynamics: Hanoi vs. Ho Chi Minh City
Vietnam’s urban housing markets are no longer monolithic. While both Hanoi and HCMC are experiencing year-on-year appreciation in property values, their respective trajectories are driven by differing supply-side and demand-side fundamentals.
🏙️ Comparative Apartment Price Matrix (Q1 2025)
| Metric | Hanoi | Ho Chi Minh City (HCMC) |
|---|---|---|
| Average Primary Price | VND 79 million/m² (US$3,030) | VND 65–70 million/m² (US$2,500–2,700) |
| Primary Price Growth (YoY) | ↑ 32% | ↑ 20–30% |
| Secondary Price (Q1 2025) | Slight ↓ 1% QoQ, ↑ 41% YoY | ↓ 1% QoQ, ↑ 41% YoY |
| High-End Project Range | VND 100–150 million/m² | VND 80–120 million/m² (select districts) |
| Top District by Price | Tay Ho – VND 185 million/m² | Thu Duc – VND 125 million/m² |
| 5-Year Avg. Growth in Tay Ho | ↑ 40% annually | Thu Duc, District 2 – ↑ 25% annually |
| Sales Activity (Q3 2024) | ↑ 226% YoY | ↓ 4% YoY |
| Investor Activity | Predominantly domestic | Mixed foreign & domestic |
📈 Hanoi: Surging Prices Amid Strong Domestic Demand
The capital city has outpaced Ho Chi Minh City in both primary price escalation and transaction volume, largely driven by domestic end-user demand and increased new supply in emerging suburban zones.
🔹 Key Market Characteristics:
- Price Acceleration:
- Average primary apartment prices surged by VND 4 million/m² between Q4 2024 and Q1 2025.
- Select districts (e.g., Long Bien, Nam Tu Liem, Hoang Mai) are commanding prices of VND 100–150 million/m².
- Tay Ho District Spotlight:
- Highest average primary pricing nationwide at VND 185 million/m².
- Notable for upscale developments catering to affluent locals and expatriates.
- Recorded a staggering 40% average annual price growth over the past 5 years.
- Buyer Profile:
- Predominantly Vietnamese millennial professionals.
- Increased preference for smart homes, green space access, and mixed-use development.
- Market Dynamics:
- Slight Q1 2025 secondary price contraction (−1% QoQ) may suggest a short-term cooling-off phase following rapid appreciation.
- Overall secondary market still boasts 41% YoY growth, reflecting long-term confidence.
🌇 Ho Chi Minh City: Slower Growth, Selective Activity
HCMC’s residential market continues to display strong fundamentals but is weighed down by slower approvals, constrained land availability, and investor hesitancy in select districts.
🔹 Price and Transaction Trends:
- Price Movements:
- 20–30% year-on-year growth in primary markets during 2024.
- Secondary market prices stabilized at VND 60 million/m², with minor Q1 2025 correction (−1% QoQ) yet robust 41% annual increase.
- Sales Volume:
- Apartment transactions declined 4% YoY in Q3 2024 and 16% QoQ—indicative of supply-side challenges and cautious sentiment.
- High price points in central districts are discouraging broader participation.
- Buyer Preferences:
- Shift towards satellite cities and outer-ring districts like Thu Duc and Nha Be, where pricing is relatively moderate and infrastructure investment is ongoing.
- Market Constraints:
- Regulatory bottlenecks and limited new launches continue to suppress liquidity in prime areas.
🔮 National Forecasts for 2025: Growth Momentum and Outlook
Despite regional variations, Vietnam’s real estate sector is projected to remain buoyant through 2025. Institutional analyses and regulatory signals suggest continued upward pricing pressure, especially in the premium segment.
🧾 Forecast Summary Table: 2025 Projections
| Institution | Forecast |
|---|---|
| Vietnam Association of Realtors | Apartment prices expected to remain high, driven by premium inventory. |
| Institute of Construction Economics | Housing transactions to outpace 2024; prices to increase 8–10% YoY. |
| Market-wide | New supply concentrated in outskirts of major cities; Class B and luxury expected to dominate launches. |
| Buyer Demographic Shift | Gen Z and Millennials (aged 18–34) projected to drive 27% of residential demand in the next 2 years. |
🏗️ Strategic Implications for Foreign Investors
Given the nuanced landscape, investors—particularly foreign buyers—should adapt their strategies based on city-specific trends, supply types, and generational demand patterns.
✅ Recommended Approaches:
- Hanoi:
- Focus on Tay Ho and Long Bien for luxury segment investment.
- Capitalize on fast appreciation for medium-term capital gains.
- Consider rental investment targeting young tech professionals and diplomats.
- Ho Chi Minh City:
- Target suburban areas with pending infrastructure upgrades (e.g., metro lines in Thu Duc).
- Prioritize legally compliant Class B developments with Pink Book access.
- Diversify into branded residences or condotels near economic corridors.
- Nationwide:
- Leverage currency conversion dynamics and offshore financing to optimize entry costs.
- Monitor legal updates regarding foreign quotas and Pink Book issuance efficiency.
- Engage in pre-launch or off-plan property opportunities for higher upside potential.
📉 Price Evolution Graph: Hanoi vs. HCMC (2020–2025)
VND Million/m²
|
185| ╭───── Tay Ho (HN)
150| ╭─────┤
120| ╭─────┤ ╰─── Long Bien (HN)
90| ╭─────┤
60| ╭─────┤ ╭── HCMC Average
30| ╭─────┤
0|────────────────────────────────────────────>
2020 2021 2022 2023 2024 20259. Rental Yields & Investment Returns in Vietnam (2025): A Strategic Outlook for Foreign Property Buyers
In 2025, Vietnam’s residential property investment environment continues to offer viable income-generating opportunities, particularly in high-demand urban centers such as Hanoi and Ho Chi Minh City (HCMC). However, recent shifts in market performance, rental trends, and property appreciation indicate that returns are becoming increasingly district-specific and property-type dependent. As part of a comprehensive guide for foreign buyers, this section explores the performance of rental yields, comparative pricing, and profitability metrics essential for informed investment decisions.
🔍 Rental Yield Overview: Nationwide and By City
While Vietnam still provides attractive gross rental yields, they have moderated slightly due to rising property prices outpacing rental growth. The national average gross rental yield declined from 3.83% in Q1 2024 to 3.16% in Q1 2025.
📌 Key Observations:
- Urban concentration: Highest yields are typically concentrated in specific urban districts with strong rental demand, such as Hanoi’s Đống Đa and HCMC’s District 7.
- Unit size impact: Smaller units (studios and 1-bedrooms) generally produce better yields due to lower acquisition costs and consistently high tenant demand.
- Foreign demand: Rental demand is supported by expatriates, young Vietnamese professionals, and students, particularly near universities, business hubs, and industrial zones.
📈 Table 1: Gross Rental Yield Comparison by City, District & Unit Type (Q1 2025)
| City | District | Unit Type | Avg. Purchase Price (USD) | Avg. Monthly Rent (USD) | Gross Yield (p.a.) |
|---|---|---|---|---|---|
| Hanoi | Nam Từ Liêm | Studio | $109,868 | $275 | 3.00% |
| 1-Bedroom | $176,574 | $510 | 3.47% | ||
| 2-Bedroom | $255,051 | $667 | 3.14% | ||
| Thanh Xuân | 3-Bedroom | $470,865 | $1,765 | 4.50% | |
| Đống Đa | 1-Bedroom | $170,688 | $667 | 4.69% | |
| Long Biên | Studio | $137,335 | $471 | 4.12% | |
| Hanoi Average | All Districts | All Types | N/A | N/A | 2.90% |
| Ho Chi Minh City | District 2 | 2-Bedroom | $496,369 | $1,373 | 3.32% |
| 4+ Bedroom | $1,373,354 | $4,512 | 3.94% | ||
| District 7 | 1-Bedroom | $156,954 | $589 | 4.50% | |
| 3-Bedroom | $517,950 | $1,667 | 3.86% | ||
| Bình Thạnh | 3-Bedroom | $765,154 | $2,216 | 3.48% | |
| HCMC Average | All Districts | All Types | N/A | N/A | 3.16% |
🧩 Insight: Hanoi currently provides higher yields in select mid-range districts like Đống Đa and Thanh Xuân, whereas HCMC yields are strongest in District 7 and high-density expat communities.
🏢 Table 2: Residential Market Snapshot – Hanoi vs. HCMC (Q1 2025)
This comparative table consolidates housing supply, sales, pricing, and forecasted returns to guide investors in selecting the right city and district based on their investment goals.
| Metric | Hanoi | Ho Chi Minh City |
|---|---|---|
| Q1 2025 New Supply (Units) | ~7,400 (forecast full year) | ~800 (Q1 actual) |
| Q1 2025 Total Primary Stock | ~8,000 | ~5,000 |
| Q1 2025 Sales/Transactions | 7,914 units (↓ 41% QoQ, ↑ 49% YoY) | N/A (23% absorption rate) |
| Q3 2024 Sales | 6,840 units (↑ 226% YoY) | 1,915 units (↓ 16% QoQ, ↓ 4% YoY) |
| Q1 2025 Avg. Primary Price (USD/m²) | $3,030 (VND 79M) | $2,700 est. |
| Q1 2025 Avg. Secondary Price (VND/m²) | VND 60M (↑ 41% YoY) | VND 60M (↑ 41% YoY) |
| Q1 2025 Absorption Rate | 85% in Q3 2024 | 23% overall |
| 2024 Apartment Price Change | +40% to +50% | +20% to +30% |
| 2025 Price Forecast | Expected to continue soaring | Expected moderate recovery |
💡 Investment Strategy Tip: Hanoi appears to offer stronger short-to-medium-term appreciation, especially in new districts, while HCMC offers stability and expatriate rental demand—ideal for long-term income-focused investors.
📊 Forecasted Yield & ROI Matrix (2025–2026)
| City | 2025 Gross Yield (%) | Expected 2025 Price Growth | Projected 1-Year ROI |
|---|---|---|---|
| Hanoi | 2.90% | 8–10% | 10.9% – 12.9% |
| Ho Chi Minh City | 3.16% | 6–8% | 9.16% – 11.16% |
ROI = (Annual Price Appreciation + Annual Rental Yield)
🔐 Implications for Foreign Investors
Understanding Vietnam’s yield dynamics enables foreign investors to make more informed decisions aligned with their investment goals—whether seeking capital appreciation, consistent income, or a balanced strategy.
🔹 Key Considerations:
- District-Level Targeting: Rental performance is highly district-dependent; buyers should avoid generalized assumptions.
- Studio & 1BR Units for Yield: These units offer lower entry costs and consistently higher yields.
- Expat Hotspots: HCMC’s District 2 and 7, and Hanoi’s Tay Ho and Long Biên, remain magnets for foreign renters.
- Price vs. Rent Divergence: Rapid price appreciation is slightly outpacing rent growth, which could compress yields unless rents adjust upward.
🔹 Risk Management:
- Factor in vacancy risk—especially in units outside main expat or transit corridors.
- Monitor legal compliance for foreign ownership quotas to ensure uninterrupted Pink Book issuance.
- Consider professionally managed rental agencies to optimize yield and tenant quality.
10. Commercial & Industrial Real Estate in Vietnam (2025): A Strategic Outlook for Foreign Investors
While Vietnam’s residential property sector garners considerable attention, the commercial and industrial real estate segments are equally pivotal, reflecting the nation’s deepening integration into global supply chains and consumer-driven economic expansion. These non-residential sectors offer diversified investment opportunities for foreign buyers seeking stability, long-term income, and exposure to high-growth industries such as logistics, retail, semiconductors, and advanced manufacturing.
🏢 Commercial Real Estate Market: Retail Sector Insights
Vietnam’s commercial real estate sector—especially in Ho Chi Minh City (HCMC)—is witnessing strong demand, near-full occupancy, and increasing rents due to limited new supply and a growing middle class. The retail property landscape has been reshaped by post-pandemic consumer behavior, rising disposable incomes, and a surge in branded retail entrants.
🔍 Retail Space Key Trends (HCMC, 2024–2025):
- Occupancy Rate: ~100% in Q3 2024 in central business districts.
- Prime Retail Rents:
- District 1: $275–$300/m²/month, highest nationally.
- Average: $53.1/m²/month, up 8% YoY.
- Retail GLA Growth: Total supply reached 1.58 million m², +7% YoY.
- Forecast for 2025:
- Additional 13,000 m² of new premium retail space expected.
- Focus on mixed-use developments and luxury malls.
🔑 Consumer Demand Drivers:
- Household Expenditure Forecast: +38% growth from 2024 to 2028 (highest in Southeast Asia).
- Demographic Shifts: Young, urbanized population prioritizing modern retail formats and lifestyle malls.
- FDI in Retail Brands: Increased interest from global retailers expanding into Tier-1 and Tier-2 Vietnamese cities.
🏭 Industrial Real Estate: Logistics, Warehousing & Manufacturing
Vietnam’s industrial real estate market continues to thrive in 2025, underpinned by large-scale infrastructure upgrades, supply chain realignments, and Vietnam’s rising prominence as a global manufacturing hub—particularly for electronics, electric vehicles (EVs), and semiconductors.
📊 Industrial Occupancy & Expansion Trends:
- Southern Vietnam (Q1 2025):
- Industrial land occupancy: 89%
- Ready-built warehouse occupancy: 72% (↑14% YoY)
- Ready-built factory occupancy: 89% (↑3% YoY)
- Northern Vietnam:
- Industrial land absorption: 400+ hectares in 2024
- Key drivers: Electronics & EV supply chains
- Average rents: $137/m², up 4.2% YoY
- Forecasted 2025 rent increase: 5%–10%
🧭 Regional Price Trends:
| Region | Q4 2024 Avg. Rent (USD/m²) | 2025 Forecast Increase |
|---|---|---|
| Northern Vietnam | $137 | +5% to +10% |
| Southern Vietnam | $175 | +7% to +12% |
🔬 Tech & Innovation Catalyst:
- NVIDIA’s R&D Center in Vietnam marks a pivotal shift, positioning the country as a magnet for AI and semiconductor investments.
- Expected to drive demand for high-tech industrial zones, innovation parks, and logistic infrastructure.
📈 Table 1: Foreign Direct Investment (FDI) Landscape – H1 2025
| FDI Metric | Value (H1 2025) | Change YoY |
|---|---|---|
| Total Registered FDI | $21.51 billion | +32.6% |
| Newly Registered Capital | $9.3 billion | -10% |
| Adjusted Capital | $8.95 billion | +120% (2.2x) |
| Capital Contribution/Share Purchases | $3.28 billion | +73.6% |
| FDI into Real Estate Sector | $5.17 billion | >2x YoY |
| Real Estate Share of Total FDI | 24% | N/A |
| Top Investing Country (Singapore) | $4.6 billion | -24.8% |
| Top FDI Destination (Hanoi) | $3.66 billion | +180% (2.8x) |
| 3rd Destination (HCMC) | $2.7 billion | >2x YoY |
🔍 Interpretation: FDI into real estate surged beyond $5 billion, accounting for nearly a quarter of all foreign capital inflows. This capital is heavily allocated to industrial parks, logistics centers, and mixed-use commercial projects—especially in Hanoi and HCMC.
🌐 Investment Takeaways for Foreign Buyers
📌 Diversification Opportunities Beyond Residential:
- Retail Sector:
- Prime assets in CBD locations offer stable, long-term lease income.
- Foreign retailers and lifestyle brands fueling tenant demand.
- Industrial Sector:
- Long leases with manufacturers and 3PL firms.
- High demand for ready-built warehouses in proximity to ports and highways.
- Potential for build-to-suit (BTS) contracts with multinational tenants.
📌 Key Investment Considerations:
- Zoning Compliance: Industrial properties must comply with zoning laws. Foreigners can lease land or own structures via Vietnamese-registered companies.
- Joint Ventures or M&A Entry: Foreign investors often access these sectors through joint ventures with local developers or corporate M&A structures.
- Lease Tenure: Industrial land is leased for 50 years, extendable with government approval.
- Capital Gains & Rent Potential: Industrial zones in Bac Ninh, Hai Phong, Dong Nai, and Binh Duong continue to show above-average appreciation due to infrastructure links and tenant demand.
🏁 Conclusion
Vietnam’s commercial and industrial property sectors are increasingly viewed as strategic assets for foreign investors looking beyond traditional residential opportunities. With record-high occupancy rates, booming retail demand, and robust logistics infrastructure, these markets provide resilient, income-generating options in a fast-modernizing economy.
11. Prime Investment Destinations in Vietnam (2025): Strategic Areas for Foreign Property Buyers
For foreign investors exploring Vietnam’s real estate market in 2025, identifying high-potential locations is critical. With ongoing infrastructure expansion, evolving legal frameworks, and decentralization of urban growth, Vietnam’s investment landscape is no longer limited to traditional prime districts. A strategic understanding of regional dynamics offers clarity on where capital is flowing—and why.
This section outlines the most sought-after cities and districts by international buyers, backed by infrastructure development data, pricing trends, and growth forecasts.
📍 Ho Chi Minh City (HCMC): Vietnam’s Financial & Commercial Epicenter
As the economic heartbeat of the country, Ho Chi Minh City remains the foremost destination for foreign real estate investment. The city combines urban sophistication with rapid growth in suburban areas driven by transport infrastructure and smart-city planning.
🔑 High-Demand Districts:
- District 1:
- Vietnam’s premier CBD, known for luxury apartments and high-end retail.
- Rental demand remains stable due to international business hubs and consulates.
- District 2 (Thao Dien & Thu Thiem):
- Thao Dien: Popular among expatriates, with international schools and riverside villas.
- Thu Thiem: Considered “Vietnam’s future Pudong,” a planned urban finance hub.
- District 7 (Phu My Hung):
- Well-developed infrastructure and gated communities.
- Strong presence of Korean, Japanese, and Taiwanese investors.
📈 Emerging Growth Zones:
- Thu Duc City (formerly Districts 2, 9, and Thu Duc):
- Integrated as a “creative city,” home to universities, R&D zones, and the new Mien Dong Bus Station.
- Ben Luc & Duc Hoa (Western HCMC region):
- Supported by Ring Road 3, Ben Luc–Long Thanh Expressway, and urban spillover.
- Attractive for long-term investors betting on suburban expansion.
🏛️ Hanoi: Political Capital with Expanding Residential Zones
Hanoi has increasingly attracted global attention as a stable investment hub, especially for mid-to-long-term capital seeking consistent value appreciation. The government’s push to expand the city’s urban footprint is reshaping residential zones beyond traditional core districts.
🔑 Established & Emerging Districts:
- Tay Ho (West Lake):
- Home to diplomatic quarters, embassies, and high-end lakefront developments.
- Primary property prices average VND 185 million/m² (highest in the capital).
- Hoang Mai, Dong Anh, Hoai Duc, Gia Lam:
- Benefiting from infrastructure like Vinh Tuy Bridge Phase 2, Ring Road 3.5, and urban railway lines.
- These districts are expected to supply 60%+ of new housing stock over the next five years.
- Long Bien & Thanh Tri:
- Connected to the inner city via new bridges and road extensions.
- Attractive for villa and townhouse developments, particularly for young families and tech workers.
🏖️ Da Nang: Central Vietnam’s Coastal Tech and Tourism Hub
Da Nang is evolving from a tourism-centric destination into a multifaceted investment zone, integrating real estate with tourism, high-tech, and logistics sectors. Its airport expansion and regulatory reforms have revived large-scale developments.
📊 Q1 2025 Highlights:
- 3x YoY growth in real estate FDI.
- Major projects launched:
- Thuan Phuoc – Da Nang New Urban Area
- FPT Plaza 4 – Mixed-use tech-city development.
🏡 Key Property Types:
- Luxury Beach Villas: My Khe Beach, Son Tra Peninsula.
- Mid-rise Condominiums: Near central business areas and universities.
- Mixed-use Urban Complexes: Targeting digital nomads and remote professionals.
🌴 Nha Trang & Phu Quoc: Coastal Investment Powerhouses
These two tourism-driven markets offer high rental yields and substantial capital appreciation potential, particularly for hospitality-oriented investments.
📍 Nha Trang:
- Known for its booming tourism economy and short-term rental demand.
- Attracts both individual investors and institutional developers in:
- Beachfront condominiums
- Serviced apartments
- Tourism complexes
📍 Phu Quoc:
- Vietnam’s largest island and first island-city.
- High investor interest in:
- Resort villas
- Beachfront condos
- Vacation rentals
🧭 Growth Drivers:
- New infrastructure such as Phu Quoc International Airport expansion, new inter-island roads, and visa-free entry for 80+ countries.
- Strong government backing for public-private tourism partnerships.
🏗️ Table: Comparative Snapshot of Key Investment Hotspots (2025)
| City/Region | Primary Investment Areas | Key Property Types | Key Infrastructure Projects | Investment Signals |
|---|---|---|---|---|
| Ho Chi Minh City | Districts 1, 2, 7; Thu Duc, Ben Luc | Luxury condos, mid-tier apartments | Metro Line 1, Ring Road 3, Long Thanh Airport | CBD strength + suburban expansion |
| Hanoi | Tay Ho, Dong Anh, Hoai Duc, Gia Lam | Villas, condos, townhouses | Ring Roads 2.5, 3.5; Urban Railway Lines 3, 5 | Strong appreciation + stable demand |
| Da Nang | My Khe, Son Tra, Hai Chau | Beachfront villas, mixed-use flats | Da Nang–Quang Ngai Expressway, airport upgrade | Tourism + tech sector growth |
| Nha Trang | Tran Phu, Northern Coastline | Serviced apartments, beachfront | Coastal Ring Road, tourism zoning plan | Resilient rental income |
| Phu Quoc | Long Beach, Bai Truong, Ong Lang | Resort villas, condotels | New international ferry port, expanded air routes | Island-city status + tourism momentum |
🔍 Strategic Implications for Foreign Investors
📌 Investment Timing:
- 2025–2026 is considered a pivotal entry window, especially in emerging areas undergoing infrastructure transformation.
📌 Market Prioritization:
- Short-Term Rental Yield: Focus on Phu Quoc, Nha Trang, and Da Nang.
- Capital Appreciation: Prioritize Tay Ho (Hanoi) and Thu Thiem (HCMC).
- Mixed-Use Development: Explore Long Bien, Dong Anh, and Thu Duc, which benefit from master plans and industrial adjacency.
📌 Due Diligence Factors:
- Verify legal land-use rights and title clarity, particularly in coastal and suburban zones.
- Understand foreign ownership caps in mixed-use projects.
- Evaluate infrastructure timelines that can impact near-term liquidity and appreciation.
12. Risks, Challenges, and Practical Considerations for Foreigners Buying Property in Vietnam (2025 Guide)
While Vietnam remains one of Southeast Asia’s most promising real estate frontiers, it also presents unique legal, operational, and cultural complexities that foreign buyers must carefully navigate. Despite reforms and modernization in the property market, Vietnam’s evolving legal landscape still poses systemic risks that necessitate prudent due diligence, professional guidance, and cultural sensitivity.
Below is a comprehensive analysis of the main challenges foreign investors encounter and practical strategies to mitigate them.
⚠️ Legal and Regulatory Risks: What Foreigners Must Know
Despite increasing openness to international investors, Vietnam’s real estate legal framework still reflects its socialist foundations and complex bureaucracy. These legal realities require foreign buyers to tread cautiously.
Key Legal Pitfalls for Foreign Buyers
1. Nominee Ownership Structures and Trustee Risks
- Some foreign buyers historically use Vietnamese citizens (spouses, friends, or business associates) as “nominees” to hold property on their behalf.
- Although informal and technically illegal, this practice persists due to:
- Restrictions on land ownership for foreigners (e.g., no freehold).
- Perceived lack of enforceability of foreign ownership rights in disputes.
- High Risk: Numerous cases exist where nominee holders have refused to transfer ownership or seized the property, leaving the foreigner with no legal recourse.
✅ Advisory: Foreigners should strictly avoid nominee arrangements. Legal property ownership is permitted under Vietnamese law within defined limits. Circumventing legal channels opens investors to complete asset loss.
2. Government Land Expropriation
- All land in Vietnam is state-owned; individuals (including Vietnamese) only hold land use rights (LURs).
- The government retains authority to reclaim land for national development, often offering below-market compensation.
- This introduces systemic risk:
- Uncertainty over tenure security
- Lack of confidence in appeal processes
- A perception among some investors that “you never truly own property”
| Ownership Type | Available to Foreigners | Key Limitations |
|---|---|---|
| Freehold Land | ❌ No | Land is owned by the state |
| Land Use Rights (LURs) | ✅ With Conditions | Limited to leasehold (usually 50 years) |
| Condominiums | ✅ Yes | Capped at 30% of units per building |
3. Legal Inconsistencies and Regulatory Shifts
- Foreign investors frequently face:
- Ambiguous procedures across ministries
- Overlapping regulations across land, environment, and investment laws
- Sudden regulatory changes, sometimes applied retroactively
- These complexities delay approvals, complicate due diligence, and increase risk of non-compliance.
📉 Market Risks and Structural Challenges
Vietnam’s housing market, though fast-growing, suffers from distortions that affect investor returns and policy predictability.
Persistent Supply Constraints and Rising Prices
- Legal bottlenecks have stalled thousands of housing projects.
- This results in:
- Shortages of new inventory
- Unsustainable price growth, especially in major cities
- Rising affordability issues among Vietnamese buyers may prompt government intervention through:
- Price regulation
- Foreign ownership limits
- Expansion of social housing quotas
⚠️ Implications for Foreign Investors:
- Potential restrictions on resale or ownership quotas
- Long-term capital gains may flatten if affordability ceilings are reached
🔒 Transparency, Verification, and Scams
The lack of a centralized real estate listing system in Vietnam creates gaps in information and increases exposure to fraudulent or opaque dealings.
Common Issues:
- “Ký Gửi” System:
- Properties are consigned to multiple agents with little oversight.
- Buyers may receive conflicting or outdated information.
- Undisclosed Legal Disputes:
- Some properties are subject to inheritance claims, court disputes, or zoning issues.
- Unauthorized Brokers:
- A high percentage of property agents operate without proper licenses.
| Transparency Challenge | Investor Risk | Recommended Action |
|---|---|---|
| No national listing registry | Can’t verify real-time listings | Use verified brokerages and legal counsel |
| Poor title deed verification | Property may be encumbered or have legal disputes | Conduct comprehensive title and lien checks |
| Fake listings or inflated pricing | Financial loss or wasted due diligence time | Cross-verify listings with 2–3 independent sources |
🧑⚖️ The Role of Legal and Real Estate Professionals
Why Engaging Local Experts is Essential:
1. Complex Regulatory Landscape
- Vietnam’s legal system is civil law-based with frequent updates and inconsistencies.
- Foreigners must comply with Law on Housing, Land Law, and Investment Law, often requiring interpretation by experts.
2. Due Diligence and Legal Safeguards
- Local lawyers ensure:
- Proper title checks
- Verification of developer credentials
- Identification of hidden encumbrances
- Protection against retroactive regulations
3. Monitoring Policy Reforms
- Vietnam’s land, housing, and investment laws are under constant revision (e.g., the 2025 Land Law and Housing Law updates).
- Local counsel helps ensure compliance with new rules and avoid costly legal surprises.
🧾 Investment Tip: Treat legal and real estate advisory services as mandatory investment infrastructure, not an optional add-on. Budget accordingly (typically 1.5%–3% of deal value).
🌐 Cultural Nuances and On-the-Ground Realities
Navigating Vietnam’s Property Culture and Customs:
1. Cultural Awareness
- Property selection and valuation are influenced by:
- Feng Shui: Orientation, water proximity, and road access matter.
- Taboo numbers or building floors (e.g., number 4 often avoided).
- Local ceremonies (e.g., land blessing rituals) are customary and appreciated by neighbors and sellers.
2. Agent and Developer Due Diligence
- Vet agents for:
- Proper real estate brokerage license (as per Decree 16/2022/ND-CP)
- Direct authorization from sellers
- Vet developers for:
- Completed vs. pending projects
- Past delivery records
- Reputation for resolving defects or maintenance issues
3. Building Management and Operations
- Issues with building management can degrade asset value over time.
- Check:
- Resident association governance
- Transparency of sinking fund and service fees
- Security and maintenance track records
📊 Summary Matrix: Key Challenges & Solutions
| Risk/Challenge | Impact on Foreign Investors | Recommended Mitigation Strategy |
|---|---|---|
| Nominee ownership | Complete asset loss | Avoid. Only buy through legal foreign entitlements |
| Government expropriation | Land reclamation without market value | Invest in regulated, developer-held condo assets |
| Regulatory inconsistencies | Delays, retroactive compliance | Hire local legal teams for ongoing advisory |
| Transparency & scams | Fraud, hidden liabilities | Verify through lawyers and registered agencies |
| Supply shortages and price bubbles | Reduced long-term ROI | Focus on value areas, avoid overpriced hotspots |
| Cultural & procedural misunderstandings | Transactional friction, reputational risk | Respect local customs and hire bilingual advisors |
13. Vietnam Real Estate Investment Landscape 2025: Strategic Overview for Foreign Buyers
As Vietnam positions itself as one of Asia’s most promising investment destinations in 2025, foreign interest in its real estate sector has surged. The landscape has evolved considerably following the implementation of major legislative reforms on August 1, 2024, which have redefined the legal entitlements, operational feasibility, and exit pathways for international investors.
This section outlines the macroeconomic drivers, regulatory advancements, investment challenges, and critical due diligence measures foreign investors must understand to succeed in Vietnam’s complex yet rewarding real estate market.
🏛 Legal Reform and Ownership Framework for Foreigners (2024–2025)
Vietnam’s recent policy updates reflect a clear legislative intent to modernize the real estate sector and expand access to foreign buyers—marking a shift towards greater openness, transparency, and integration with global capital flows.
Key Legal Developments Impacting Foreign Investors
1. Direct Housing Transactions Between Foreigners
- Foreign nationals can now legally buy and sell real estate to other foreigners.
- This eliminates the historic bottleneck of having to resell to Vietnamese buyers only.
- Effectively boosts liquidity in the secondary market and enhances exit strategies.
2. Unlimited Ownership for Foreign Spouses
- Foreign individuals married to Vietnamese citizens are now granted indefinite tenure on properties.
- This aligns their ownership rights more closely with citizens and promotes long-term residency and investment.
3. Ownership Quotas Remain in Place
- Foreigners may purchase:
- Up to 30% of total apartments in a condominium building
- Up to 10% of landed houses in a single residential development
- These quotas can lead to supply-demand imbalances in desirable locations, driving up prices in eligible units.
| Legal Provision | Before August 2024 | After August 2024 |
|---|---|---|
| Foreign-to-foreign property resale | ❌ Not allowed | ✅ Allowed |
| Foreign spouse ownership | ⏳ Time-limited (50 years) | ✅ Unlimited duration |
| Ownership quota (apartments per building) | ✅ 30% | ✅ Unchanged |
| Land ownership | ❌ Prohibited | ❌ Still prohibited (leasehold only) |
📈 Economic Fundamentals and Market Dynamics
Vietnam’s real estate market in 2025 is underpinned by strong macroeconomic performance, large-scale FDI inflows, and ambitious infrastructure investments—especially in second-tier cities and suburban districts.
Key Economic Indicators Supporting Property Investment
- GDP Growth (2025): Projected at 6.5%, driven by manufacturing, services, and construction.
- FDI Inflows (H1 2025): Total registered FDI reached US$21.51 billion, a +32.6% increase YoY.
- Real estate attracted US$5.17 billion, more than doubling from the same period in 2024.
- Top investor: Singapore (US$4.6 billion)
- Top destination: Hanoi (US$3.66 billion)
| Metric | H1 2025 Value | Change YoY |
|---|---|---|
| Total FDI | $21.51 billion | +32.6% |
| Real Estate FDI | $5.17 billion | > 2x YoY |
| Top Investing Country | Singapore ($4.6B) | -24.8% |
| Top FDI Destination | Hanoi ($3.66B) | +180% (2.8x) |
🏙 Regional Market Contrasts: Hanoi vs Ho Chi Minh City
Vietnam’s real estate market is highly regionalized, requiring localized investment strategies rather than a blanket national approach.
Hanoi (Capital City)
- Witnessing soaring property prices, particularly in Tay Ho, Long Bien, and Nam Tu Liem.
- Apartment prices rose by 40–50% in 2024, continuing upward into 2025.
- High demand from a younger, tech-savvy demographic (ages 18–34).
- Strong absorption rates in newly launched high-end developments.
Ho Chi Minh City (Commercial Capital)
- Faces constrained supply due to lingering regulatory and legal bottlenecks.
- Absorption rate stands at 23%, with over 5,000 units remaining unsold in Q1 2025.
- Recovery expected to be slower but more stable, with mid- and high-end segment adjustments.
| Metric (Q1 2025) | Hanoi | Ho Chi Minh City |
|---|---|---|
| New Apartment Supply | 7,914 units | 800 units |
| Average Primary Price (USD/m²) | ~$3,030 | ~$2,500 (est.) |
| Price Growth YoY | +32% (primary) | +20–30% |
| Absorption Rate | ~61% (prime) | 23% (overall) |
⚠️ Legal Ambiguities and Ownership Constraints
Despite progress, Vietnam’s legal framework continues to carry risks that foreign investors must address proactively.
Key Ownership and Legal Limitations
- Land Ownership: All land is collectively owned by the state; foreigners only obtain Land Use Rights (LURs) for up to 50 years (renewable).
- Expropriation Risk: Government can reclaim land for public use, often with below-market compensation.
- Legal Fluidity: Rapid regulatory changes without transition periods can disrupt investment assumptions.
Investor Insight: Foreign ownership is legally protected but remains subject to interpretation and administrative discretion. Relying on informal “nominee structures” is extremely high risk and often leads to complete asset loss.
🔒 Transparency Issues and Market Friction
Vietnam’s real estate ecosystem remains fragmented, with an underdeveloped information infrastructure and uneven enforcement.
Key Transparency Challenges
- No centralized property database: Difficulty confirming property status, legal disputes, or ownership history.
- “Ký gửi” system: Properties are consigned to multiple agents, often without exclusive authorization.
- Developer opacity: Delays, quality issues, and poor management plague some large-scale developments.
✅ Practical Investment Recommendations
To maximize returns while minimizing risk, foreign investors should follow a multi-layered due diligence strategy supported by trusted local professionals.
Engage Legal and Property Experts
- Ensure all contracts are reviewed by Vietnam-qualified lawyers.
- Confirm developer credentials, past delivery performance, and land ownership titles.
Prioritize High-Transparency Segments
- Focus on projects developed by Tier 1 companies with foreign buyer track records.
- Invest in projects with clear ownership quotas still available for foreign buyers.
Monitor Policy and Regulatory Shifts
- Stay up to date with updates from:
- Ministry of Construction (MoC)
- Ministry of Natural Resources and Environment (MONRE)
- Track revisions to the Land Law, Housing Law, and Investment Law post-August 2024.
| Best Practice | Rationale |
|---|---|
| Use licensed, bilingual agents | Avoid misinformation and misrepresentation |
| Avoid nominee arrangements | Legal risk and unenforceability |
| Request full title verification | Confirm land use rights and project legality |
| Budget for legal fees (2–3%) | Essential risk management cost |
🧭 Final Outlook for Foreign Investors in 2025
Vietnam’s real estate market in 2025 represents a blend of opportunity and caution. Foreigners are now more empowered than ever to enter the market through legally sound, long-term ownership models—especially in the condominium segment and through marital entitlements.
Yet, the market’s non-transparent systems, legal contradictions, and quota restrictions remain real. A successful investment requires more than just capital—it demands localized expertise, legal foresight, and cultural competence.
Conclusion: Vietnam is open for business, but only for those who approach it with professionalism, diligence, and a long-term perspective.
Conclusion
In conclusion, Vietnam’s real estate market in 2025 presents a compelling combination of opportunity, complexity, and evolving legal frameworks—particularly for foreign investors looking to diversify their portfolios in one of Southeast Asia’s most dynamic economies. With strategic legal reforms now in effect, a clearer pathway for property acquisition by foreigners is finally emerging, especially in urban and high-growth suburban areas. However, these legal advances, while significant, coexist with structural challenges, making an informed, cautious, and well-guided approach not just advisable—but essential.
A Rapidly Transforming Investment Climate
Vietnam’s legislative updates, including the landmark Housing Law (2023 Revision) and Land Law (2024 Revision) effective August 1, 2024, mark a pivotal shift in the country’s openness to foreign property ownership. The allowance for foreign-to-foreign secondary transactions, the recognition of permanent ownership rights for foreigners married to Vietnamese citizens, and improvements in land use rights (LURs) have collectively moved Vietnam closer to global best practices.
These legal improvements are supported by strong economic fundamentals:
- Projected GDP growth of 6.5% in 2025
- Record-high FDI inflows exceeding US$21 billion in H1 2025
- Ongoing infrastructure upgrades such as expressways, metro systems, and new airports
- A young, urbanizing population driving sustained demand for residential and commercial real estate
As such, Vietnam now rivals more mature Asian markets as a viable, mid-to-long-term real estate investment destination.
Regional Diversification Is Key
Foreign investors must recognize that Vietnam is not a monolithic market. Distinct regional dynamics between Hanoi, Ho Chi Minh City, Da Nang, and emerging hubs such as Binh Duong, Bac Ninh, and Long An create unique investment environments:
- Hanoi leads in price appreciation and absorption rates, driven by robust domestic demand and improved infrastructure in peri-urban districts.
- Ho Chi Minh City remains a commercial and financial nucleus but faces structural bottlenecks in housing supply.
- Da Nang, Nha Trang, and Phu Quoc offer high-potential tourism and luxury property markets with attractive rental yields and resort investment opportunities.
- Industrial real estate in both northern and southern regions is booming, supported by electronics, EV manufacturing, and the influx of global tech firms like NVIDIA.
Therefore, aligning an investment strategy with local market maturity, asset class, and infrastructure development is crucial to achieving optimal returns.
Legal, Cultural, and Practical Due Diligence
Despite these advancements, foreign buyers still face legal ambiguities and practical hurdles. The central challenge remains Vietnam’s land ownership model, which is rooted in state ownership of all land. This creates a leasehold environment rather than true freehold, making clear title verification, LUR duration awareness, and legal representation critical components of any investment.
Furthermore:
- Ownership quotas for foreigners in condominiums and landed housing must be navigated carefully.
- Nominee structures—though still used by some—pose significant legal risks and are strongly discouraged.
- Expropriation risk, while rare, remains a theoretical concern under Vietnamese law, particularly in high-value areas undergoing redevelopment.
- Market transparency, due diligence, and cultural competence are essential, especially when dealing with agents, developers, or under-regulated secondary markets.
Foreign investors are strongly encouraged to work with licensed local real estate agents, bilingual legal professionals, and internationally recognized property consultancies. These experts provide not only transactional support but also ongoing legal monitoring, risk mitigation, and compliance with Vietnam’s frequently evolving laws and policies.
Vietnam’s Long-Term Outlook for Foreign Property Investors
Vietnam is no longer just an emerging market—it is now an accelerating market. With a rising middle class, strategic geopolitical positioning, trade openness, and digital transformation, it offers tremendous upside potential. The real estate sector—both residential and industrial—is integral to this national growth story.
For the foreign investor, Vietnam’s real estate market in 2025 offers:
- Greater legal clarity than ever before
- Access to a vibrant, upward-trending economy
- Diverse investment opportunities across asset classes and regions
- An expanding consumer base and improving urban quality of life
Yet these benefits come with a caveat: the need for preparedness, professionalism, and patience. Vietnam rewards those who enter with local knowledge, respect for its regulatory system, and a commitment to ethical investment practices.
Final Thought
Buying property in Vietnam as a foreigner in 2025 is not only possible—it is increasingly practical. But success lies in recognizing that this is a unique and evolving real estate market shaped by local laws, cultural norms, and developmental priorities. With proper legal guidance, localized market insight, and long-term strategic planning, foreign investors can tap into one of Asia’s most promising property markets—and help shape the next chapter in Vietnam’s remarkable growth story.
People Also Ask
Can foreigners buy property in Vietnam in 2025?
Yes, foreigners can legally buy certain types of property in Vietnam under the 2025 laws, including apartments and houses in commercial residential projects.
Are there ownership restrictions for foreign buyers in Vietnam?
Yes, foreigners are limited to owning up to 30% of units in an apartment building and 10% of landed houses in a residential project.
What types of property can foreigners purchase in Vietnam?
Foreigners can purchase condominiums, villas, and landed houses in eligible commercial housing developments, but cannot own land directly.
Can foreigners buy land in Vietnam?
No, land is owned collectively by the state. Foreigners can only acquire land-use rights indirectly through leaseholds or corporate structures.
Is freehold ownership allowed for foreigners in Vietnam?
Foreigners are generally granted 50-year renewable leaseholds, not freehold ownership, unless married to a Vietnamese citizen.
Can a foreigner own a house with a Vietnamese spouse?
Yes, foreigners married to Vietnamese citizens can enjoy indefinite ownership and full rights similar to Vietnamese nationals.
What is the process for foreigners to buy property in Vietnam?
Foreigners must select an eligible property, sign a sale contract, register ownership, and pay all applicable taxes and fees.
What taxes must foreign property buyers pay in Vietnam?
Buyers pay VAT (10%), a 0.5% registration fee, a 2% sinking fund (for apartments), and 2% income tax on resale value.
Can foreigners sell property in Vietnam?
Yes, foreign owners can legally sell their property to Vietnamese citizens or other eligible foreigners within ownership quotas.
Is rental income from Vietnamese property taxed?
Yes, rental income is taxed at a combined rate of 10% (5% VAT and 5% personal income tax), plus a license tax if income exceeds VND 100 million/year.
Can foreigners get mortgages in Vietnam?
Getting local mortgages is difficult for foreigners, but some international banks like HSBC and Standard Chartered offer limited options.
What are the average mortgage rates for foreigners in Vietnam?
Rates range from 5.5% to 8.99% annually, depending on fixed periods and bank conditions, with stricter terms for non-residents.
Which cities are best for foreign property investment in Vietnam?
Ho Chi Minh City, Hanoi, Da Nang, Nha Trang, and Phu Quoc are top locations due to infrastructure, lifestyle, and rental yields.
What are the average property prices in Ho Chi Minh City in 2025?
As of Q1 2025, the average secondary apartment price in HCMC is around VND 60 million/m², with fluctuations by district and project.
What are the average property prices in Hanoi in 2025?
Hanoi’s primary apartment prices reached VND 79 million/m² on average, with luxury districts like Tay Ho reaching up to VND 185 million/m².
What are typical rental yields in Vietnam?
Rental yields average around 3.16% nationally, with certain districts in Hanoi and HCMC offering returns up to 4.5%.
Are property prices expected to rise in Vietnam?
Yes, prices are forecasted to increase 8–10% in 2025, especially in suburban areas with new infrastructure and legal clarity.
Can a foreigner invest in commercial real estate in Vietnam?
Yes, foreigners can invest in commercial and industrial real estate through companies or joint ventures, subject to regulations.
What are the risks of nominee ownership in Vietnam?
Nominee ownership is risky and not legally protected. Foreigners risk losing their investment if disputes arise with the nominee.
Is property ownership permanent for foreigners in Vietnam?
Ownership is granted for 50 years, renewable. Only foreigners married to Vietnamese citizens can hold indefinite ownership.
Are there legal protections for foreign property buyers?
Recent laws have improved protection, but legal uncertainties and inconsistent enforcement still pose risks, requiring expert guidance.
Do foreigners need a visa to own property in Vietnam?
No visa is required to own property, but buyers must enter Vietnam legally and meet ownership eligibility criteria.
Can foreigners inherit property in Vietnam?
Yes, foreigners can inherit property in Vietnam, subject to compliance with the ownership quotas and property type limitations.
Are there foreign ownership quotas in each project?
Yes, foreigners are capped at 30% of condominium units or 10% of landed houses in any residential project.
How can foreigners verify a property’s legal status?
They must consult local legal experts to verify ownership documents, land-use rights, and ensure the project is eligible for foreign purchase.
What documents are required for foreigners to buy property?
Passports, visa or entry stamp, sale agreements, and proof of funds are typically required, plus tax identification if renting out.
Are there restrictions on transferring money for property purchase?
Funds must be transferred legally through licensed banks in Vietnam, with proper documentation to ensure legal remittance.
Is it better to buy under a company name in Vietnam?
Foreigners can establish a company to acquire property, especially for commercial purposes, but this route involves stricter requirements.
What due diligence steps should foreign buyers take?
Verify project legality, developer reputation, agent credibility, contract terms, and future infrastructure plans before purchase.
Should foreigners use a local lawyer when buying property?
Absolutely. Hiring a local legal advisor is essential to ensure compliance, avoid fraud, and navigate Vietnam’s evolving legal landscape.
Sources
Homebase
LTS Law Firm
Global Property Guide
Embassy of the Socialist Republic of Vietnam in the United States
Vietnam Investment Review (VIR)
ResearchGate
Grant Thornton Vietnam
ASL Law Firm
Visreal
Realtique
Savills Vietnam
Vietnam Law & Legal Forum (Vietnam Law Magazine)
Savills India
Da Nang eNewspaper (Báo Đà Nẵng)
Hanoi Times
VietnamPlus
KTG Industrial
VnExpress International
Vietnam Economic Times
IQI Global
Da Nang Villa Realty
Long Phan PMT
Woori Bank Vietnam
Standard Chartered Vietnam
Hong Leong Bank Vietnam
HSBC Vietnam
Bamboo Routes
Stockbiz
ANT Lawyers
Vietnam Briefing
