In recent years, more and more companies are moving to Vietnam. Many factors have pointed to Vietnam’s burgeoning economic status, affordable workforce, and strategic location, among others.
With Vietnam slowly opening its borders, how can you take advantage of this and make your first investment in the country as a foreigner? In this article we have the answer for you.
Can a foreigner buy real estate in Vietnam?
The answer is yes for some types of real estate and no for land ownership. You can now buy most property categories, under strict conditions, such as meeting, for example, the foreign owner ownership quota per project. The ownership period is also limited to 50 years.
###: Property Documents You Should Know
Top trends in the real estate market
Proptech companies are emerging in response to the growing number of real estate products. Condominiums, office buildings and commercial properties are hosting foreigners arriving in Vietnam for the first time, especially amid the incoming wave of outbound tourism† Hanoi and Ho Chi Minh City are the two most attractive destinations for this.
Reopening Vietnam’s borders – What to choose in the market?
You can buy almost anything from tube houses, villas, condotels, apartments and more.
As mentioned above, you need to pay attention to the ownership quota for each project. Local ownership is allowed for 70% while foreign ownership takes only 30% per housing project.
What are some barriers to entering Vietnam as a foreigner?
It is worth noting that the housing market in Vietnam remains difficult to navigate. Buying and owning real estate usually involves going through a complicated process that can take up to 6 months.
There are also alternatives to traditional home ownershipfor example with Homebase.
Why Home Base?
Home ownership remains a distant dream for many foreigners because of the strict qualifications that come with it. For foreign investors, residents or Viet Kieus, buying a house in Vietnam requires knowledge, time and effort to own. For some, who have just arrived at the time of the reopening of Vietnam’s borders, the lack of this proves to be a challenge for homeownership.
Homebase is the alternative solution that makes owning real estate in Vietnam easier. They are backed by some of the most prestigious global funds, including Y Combinator, VinaCapital Ventures, Class 5 Global and Pegasus Technology Ventures. in Nov, they have also successfully raised USD 30 million to facilitate home ownership in Southeast Asia†
###: How do I get a real estate loan in Vietnam for foreigners with Homebase
Start investing in Vietnam today!
We hope you have gained some insight into the market trends and investment opportunities in proptech in the context of the reopening of Vietnam’s borders to tourists.
You can reach Homebase by phone/WhatsApp/Zalo on (+84) 964 245 404 or to fill out a form to start owning from today!