What should expat take note if buy apartment in Saigon?

For foreigners who choose to live in Saigon, they not only have the need to rent a house, but they also have the need to buy apartment in Saigon for living. So if foreigners buy real estate in Vietnam what should be noted? You can refer to the following information for more details.

Why foreigners choose to buy apartment in Saigon?

According to recent statistics, the number of foreigners choosing to buy houses in Saigon is increasing. According to Savills, only the real estate market in the last 2 years, there have been thousands of successful transactions with foreign customers. High quality real estate projects receive special attention from many foreigners.

Many foreigners choose to live in Saigon

Include the reasons why many foreigners choose to buy apartment in Saigon may be because:

  • Life in Saigon is suitable for many foreigners. There have much good living conditions with many quality services.
  • Saigon is a dynamic and dynamic city with high employment and employment opportunities. It won’t be too difficult when you want to find a job that suits you.
  • Living standard in Saigon is very diverse, suitable for many people living and working here.
  • Saigon has many cultural and gastronomic beauties that’s worth to be explored.

It is difficult for expat when buying a house in Saigon?

If you have a need to buy a house in Saigon or big cities, the first thing you need to prepare is money. Just have a lot of money you can choose to buy the house that best suits you to live. However, this becomes more difficult for foreigners when they intend to buy a house in Vietnam.

There are many legal barriers that make it difficult for foreigners to choose the most suitable apartment to buy. However, this doesn’t mean that foreigners can’t buy houses in Vietnam.

Currently, the legal procedures for owning real estate in Vietnam for foreigners have received very positive feedback from both sellers and buyers after nearly 3 years of implementation. This shows that it is easier for foreigners to choose to buy apartment in Saigon or other cities..

Law on buying real estate in Vietnam

If foreigners want to buy a house in Vietnam, they need to learn carefully first about Vietnam law in buying real estate for foreigner. Here are some things you have to keep in mind.

Foreigners who choose to buy apartment in Saigon should pay attention to the land law in Vietnam

The land law of 2013 clearly stipulates that land users include Vietnamese residing overseas or foreign organizations with investment projects having land use rights in Vietnam.

According to Article 5 of Land Law 2013, foreigners only have the right to own houses under two forms of investment in building houses under the project in Vietnam according to the provisions of this Law and relevant laws; purchase, hire purchase, donation or inheritance of commercial houses, including condominiums and detached houses in investment projects on construction of dwelling houses, except for areas for defense and security maintenance according to regulations. government.

Accordingly, foreigners will be able to own a house if they have enough documents to prove their eligibility and meet the conditions stipulated in Decree 99/2015 / ND-CP:

– For foreign individuals, there must be valid passports with stamps for entry verification of Vietnamese entry and exit management agencies and not entitled to diplomatic privileges and immunities under the provisions of the French law. Order of privileges and immunities for diplomatic missions, consulates and representative offices of international organizations in Vietnam

 One thing foreigners need to consider when choosing to buy a house in Vietnam is that: foreign organizations and individuals are allowed to own no more than 30% of the total number of apartments of an apartment building; In cases where there is a population equivalent to a ward administrative unit with many apartment buildings for sale or lease, foreign organizations and individuals may own no more than 30% of the apartments of each apartment building and no more than 30% of the total number of flats of all of these apartment buildings.

So for foreigners who want to buy apartment in Saigon, in Vietnam, just follow the above conditions. And to help you find the right apartment, you should learn more about experiences of buying a house.

The experience of buying houses for foreigners

You can rely on the following note to choose the right apartment for you.

1. Assess your financial ability

What you need to do first is to evaluate your financial ability. In fact, you don’t have to have enough money to buy a home, the rest can still be borrowed from a relative, a mortgage or a mortgage. What you have to make sure is the ability to pay those debts. You should clearly specify the amount of money you need to buy a house, decorate the house and expenses later.

Learn some experiences of buying house in Sai gon

2. Pay attention to the location of the house

You should note that the house you buy is near the road, near the center, school, hospital, shopping center or supermarket. This directly affects your future benefits if you live long term.

3. Exogenous factors

What you can’t ignore is external factors. You should pay close attention to neighbors. The situation of security and traffic safety is also an important issue to be carefully considered, consult with friends and neighbors.

These are the things you need to consider before choosing to buy apartment in Saigon for yourself. All matters you should negotiate with the landlord to get the best benefits for you.

Thanh Bình – Mogi.vn

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