Regulations in Vietnam that permit foreigners to buy and own housing have proved effective in attracting investment and providing the conditions for foreign individuals to work in the country.

The Law on Housing, effective since 2014, regulates that foreign individuals in Vietnam are allowed to buy and own separate houses and apartments in permitted areas. Homebuyers are granted certificates of land use rights and ownership of houses and other land-attached assets in accordance with the land law.

In the five years from 2015 to 2020, foreign individuals and organizations purchased some 16,000 apartments in Vietnam, according to the Ho Chi Minh City Real Estate Association.

Foreigners in Vietnam can own up to 30 per cent of apartments in certain projects.

Under the draft revised Law on Housing, the government has proposed maintaining the regulation that foreign individuals in Vietnam can purchase and own separate houses and apartments. However, foreigners are not permitted to own houses associated with land use rights.

Many other countries, like China, Malaysia, South Korea, and Singapore, have similar policies that allow foreigners to buy and own a limited number of houses, to attract investment.