Are foreign individuals allowed to own houses in Vietnam?

Lao Dong Newspaper Legal Consulting Office replied:

Article 17 of the 2023 Housing Law (effective from August 2024) stipulates that foreign organizations and individuals are allowed to own houses and the forms of house ownership in Vietnam as follows:

1. Foreign organizations and individuals allowed to own houses in Vietnam include:

a) Foreign-invested economic organizations invest in housing construction projects in Vietnam according to the provisions of this Law and other relevant legal provisions;

b) Foreign-invested economic organizations, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter referred to as foreign organizations);

c) Foreign individuals are allowed to enter Vietnam.

2. Foreign organizations and individuals specified in Clause 1 of this Article are allowed to own houses in Vietnam, including apartments and individual houses through the following forms:

a) Organizations specified in Point a, Clause 1 of this Article are allowed to own houses through the implementation of housing construction investment projects in Vietnam;

b) Organizations and individuals specified in Point b and Point c, Clause 1 of this Article are allowed to own houses through purchasing or hire-purchasing commercial houses from investors of housing construction investment projects, receiving gifts or inheriting commercial houses in housing construction investment projects not located in areas requiring national defense and security as prescribed in Article 16 of this Law;

c) Organizations and individuals specified in Point b and Point c, Clause 1 of this Article are allowed to own houses through purchasing or hire-purchasing houses from foreign organizations and individuals who already own houses as prescribed in Point b of this Clause.

Thus, from August 2024, foreign individuals are allowed to own houses in Vietnam according to the above regulations.