Foreigners Purchasing Resale Condominium Apartments in Vietnam

Foreigners purchasing resale condominium apartments in Vietnam has become an important topic among expats in Ho Chi Minh City. A “resale apartment” refers to a unit previously owned by another buyer and resold to a new owner. Compared to buying directly from developers, resale properties may offer more flexible pricing but also involve stricter legal requirements and potential risks.

Understanding the relevant regulations is essential for foreigners to ensure lawful transactions, avoid disputes, and maximize ownership benefits.

Legal Basis for Foreigners Buying Resale Apartments

The right of foreigners to purchase resale apartments in Vietnam is primarily governed by the Housing Law of 2014 and its implementing regulations. This legal framework defines the scope and conditions under which foreigners may acquire property.

According to the law, foreigners are allowed to:

Buy apartments in commercial housing projects, including resale units, provided the project is not located in restricted areas for national defense and security.
Enter into transfer contracts with existing owners, with notarization required for validity.
Obtain an ownership certificate (“pink book”) with a maximum term of 50 years, subject to renewal.

In short, Vietnamese law grants expats the opportunity to own resale apartments, but with clear limitations that must be observed.

Conditions Foreign Buyers Must Meet

For foreigners to legally purchase and own resale apartments in Ho Chi Minh City, Vietnamese law sets out specific conditions. These must be carefully reviewed before entering into any transaction:

Type of apartment: Only units in approved commercial housing projects are eligible. Social housing or apartments in restricted zones cannot be resold to foreigners.
Ownership quota: Foreign ownership is capped at 30% of units in a condominium building, or 10% of units in an independent housing project.
Ownership term: Resale apartment ownership is limited to 50 years from the issuance of the ownership certificate, with the possibility of renewal.
Buyer’s legal status: The buyer must hold a valid passport with a current visa and must not fall under diplomatic immunities.

Legal Process of Purchasing Resale Apartments

The purchase of resale apartments in Ho Chi Minh City must follow a strict legal process to secure the foreign buyer’s rights. The main steps include:

Verify apartment legality: Confirm the apartment has a valid ownership certificate, free from mortgages, disputes, or restrictions.
Agreement and transfer contract: Both parties sign a sale and purchase agreement, which must be notarized to be legally valid.
Payment via bank: All payments must be conducted through a Vietnamese bank account to ensure transparency.
Register ownership transfer: Submit the notarized contract and required documents to the relevant authority for name transfer.
Issuance of ownership certificate (“pink book”): Once approved, the buyer will be granted an ownership certificate under their name for up to 50 years.

Common Risks in Resale Transactions

While resale apartments may offer more flexible pricing, foreigners should be cautious of the following common legal risks:

Mortgaged apartments: If the unit has been used as collateral, the transfer may be delayed or invalid.
Ownership disputes: Apartments under ongoing legal disputes can make title transfers difficult or impossible.
Exceeding ownership quotas: Transactions will not be approved if the building has already reached the 30% foreign ownership cap.
Delays in ownership certificates: Developers or previous owners may postpone legal paperwork, affecting the buyer’s rights.
Unclear contracts: Ambiguous terms regarding financial obligations or ownership rights can easily result in disputes.

Practical Tips for Expats

To minimize risks when purchasing resale apartments in Ho Chi Minh City, foreigners should take careful steps before closing a deal. Key recommendations include:

Review all legal documents: Ensure the apartment has a valid ownership certificate and is free from disputes or mortgages.
Verify ownership quota: Confirm with the developer or authorities that the building has not exceeded the foreign ownership cap.
Negotiate transparently on price and fees: Include transfer fees, taxes, notarization costs, and management fees.
Inspect the apartment in person: Check the condition of furniture, utilities, and the surrounding environment.
Engage legal or advisory services: Hire a lawyer or trusted agency to review contracts and procedures to avoid future risks.

Why Work with VnRenthome?

When purchasing resale apartments in Ho Chi Minh City, choosing a trusted partner is crucial for a successful transaction. VnRenthome provides a comprehensive solution for international clients through:

Verified apartment listings: All information and images are inspected for accuracy and transparency.
Bilingual legal support: Contracts and consultations are available in both Vietnamese and English for full clarity.
Expat-focused expertise: Our team understands foreign buyers’ needs regarding location, amenities, and lifestyle.
End-to-end services: Covering legal advice, negotiation support, contract signing, and property management after purchase.
Commitment to safety: Every transaction follows Vietnamese law to safeguard the buyer’s rights.

Conclusion

Purchasing resale condominium apartments in Ho Chi Minh City can be an attractive option for foreigners, offering flexible pricing and diverse locations. However, securing a safe transaction requires understanding the legal framework, ownership limits, duration, and transfer procedures.

With VnRenthome as your partner, international clients benefit from end-to-end support—from legal verification and negotiation to contract signing and property management. This ensures a secure and transparent investment or residence in Vietnam.

Hotline: 0909457542
WhatsApp: 0909457542
Email: thomas.dinh@vnrenthome.com