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Vietnam property investment is a valid option for foreigners. While the land is owned by the people, and governed by the state, there are ways for foreigners to achieve their goals in Vietnam property investment. Changing government legislation will also allow more options for foreigners. Below are Healy Consultants' services and information related to Vietnam property investment:

The Foreign Investment Department from Vietnams Ministry of Planning and Investment calculated that 91% of the US$6.36bn foreign direct investment (FDI) inflow in the first 4 months of 2009 was in the real estate sector.

Since changes to fiscal and real estate investment laws in 2006, Vietnam property investment has become an easier option to foreigners and some believe that Vietnam has the potential to rival the offerings of Thailand as a retirement and holiday destination. Vietnam Tourism figures for November show a small 1.1% year-on-year increase for tourism as a whole, however, figures show a 31% increase for visitors with the purpose of business. Affordable five star golf resorts are one area currently being built to add to the appeal of Vietnam as a tourist destination and to further boost the property investment market.

Foreign investors are only allowed 70-year leaseholds on condominiums and can apply for an additional 70 years on expiry. Foreigners are also allowed to lease land for 50 years and to build property on it, however they do not have any title rights to the land.

For foreigners wishing to undertake Vietnam property investment, it is on a lease basis. Foreigners residing in Vietnam can buy an apartment, or buy a house, although the land that the house sits on is leased from the government. Vietnam property investment is also possible for foreigners by forming i) a joint venture company with a local partner ii) a wholly foreign-owned company iii) a Build, Operate and Transfer (BOT) company or one of its variants.

Simultaneously, when the new Circular 13 law comes into effect on 1 January 2009, Vietnam property investment will be an option for foreigners who fall into one of the following five categories, i) individuals who already invest directly into Vietnam ii) individuals who have received an award from the State President or Prime Minister iii) individuals with a university degree in a desired sector iv) individuals who are married to a Vietnamese person iii) via companies that are not real estate related. Restrictions are that the apartments must be in approved housing developments and have a lease period of 50 years.

Since January 2009, Vietnam officially allows its retail sector to have 100% foreign invested companies, in line with the WTO commitments. The trend is changing in Vietnam toward people preferring to shop at modern centres such as shopping malls, supermarkets, and self-service stores rather than at traditional markets. According to the Ministry of Industry and Trade, the retail turnover would grow by 20.5% year-on-year to US$54.3 billion (975 trillion dong) in 2008.

Property developer Ireka Corp Bhd plans to aggressively grow its i-Zen brand for its overseas property development division and has a focus on Vietnam. Ireka sees the Vietnamese market as offering vast opportunities for their brand, as the country has a young and educated population, strong foreign direct investment and government initiative to promote liberalization. Ireka's property development in Vietnam is in association with Aseana Properties Ltd, which currently has seven projects in Malaysia and three in Vietnam.

Healy Consultants works with international investors to effectively manage all aspects required for effective Vietnam property investment, whether the purpose be for residential real estate or commercial real estate purposes.

Healy Consultants assists clients with all aspects of Vietnam property investment.  International investors save time and money by engaging our firm to manage aspects in the process of buying Vietnam property and selling Vietnam property. These key aspects include:

Developing market analysis related to Vietnam property cycles, current trends and market sentiment, currency movements, how the changes to legislation regarding foreigners impact on Vietnam property investment. Reliable sources are referenced including the Ministry of Planning and Investment (MPI)along with reputable agents, to gather relevant information on the Vietnam property market.

Arranging international mortgages to support Vietnam property investment. In sourcing property finance, our firm works with leading international banks including ANZ Bank, DBS Bank and OCBC Bank.

Providing comprehensive tax and accounting advice specific to Vietnam property investment to ensure all tax obligations are met. 

Appointing and supervising a Vietnam lawyer to ensure all the legal matters associated with Vietnam property investment are undertaken correctly.

Implementing comprehensive property management services such as property refurbishments, finding tenants, arranging property maintenance, sourcing property insurance, organizing property valuations, and property security requirements are all valuable for clients undertaking Vietnam property investment as it saves them from managing these time consuming tasks.

For clients relocating to Vietnam, Healy Consultants will project manage the requirements for migration to Vietnam including organizing immigration visas, coordinating relocation services, and providing orientation of their new country.

Contact Us

For further information on Vietnam property investment, please contact us at our Singapore office at (+65) 67350120 or email us at email@healyconsultants.com

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