More and more businesses are moving to Vietnam in recent years. Many factors have pointed towards Vietnam’s burgeoning economic status, an affordable workforce, and a strategic location among others.
As Vietnam is slowly opening its borders, how to take advantage of this and make your first investment in the country as a foreigner? We have the answer ready for you in this article.
Can a foreigner buy property in Vietnam?
The answer is yes for some property types and no for land ownership. You can now purchase most housing categories, given strict conditions such as meeting the ownership quota for foreign owners per project, for example. The ownership period is also limited to 50 years.
Top trends in the real estate market
Proptech companies are on the rise in response to the growing numbers of real estate products. Condominiums, officetels, and commercial property are capturing foreigners who first arrive in Vietnam, especially amids the incoming wave of outbound tourism. Hanoi and Ho Chi Minh city are the two most attractive destinations for this purpose.
Vietnam’s borders reopening – What to choose from in the market?
You can purchase almost everything, from tube houses, villas, condotels, apartments, and more.
As mentioned above, you should pay attention to the ownership quota for each project. Local ownership is permitted at 70% while foreign ownership takes up only 30% per housing project.
What are some barriers to entry in Vietnam as a foreigner?
It’s worth noting that the housing market in Vietnam remains difficult to navigate. To buy and own property, you usually have to go through a complicated process that could last up to 6 months.
There are also alternatives to the traditional homeownership route, for example, with Homebase.
Homeownership remains a distant dream for many foreigners due to the strict qualifications that go with it. For overseas investors, residents, or Viet Kieus, buying a house in Vietnam requires knowledge, time, and effort to own. To some, having just arrived in times when the Vietnamese borders are reopening, the lack of these proves to be a challenge for homeownership.
Homebase is the alternative solution that makes property ownership more effortless in Vietnam. They’re backed by some of the most prestigious global funds, including Y Combinator, VinaCapital Ventures, Class 5 Global, Pegasus Technology Ventures, among others. In November, they also successfully raised 30 million USD to facilitate homeownership across Southeast Asia.
Start investing in Vietnam today!
We hope you’ve gained some insights into the market trends and investment opportunities in proptech in the context of Vietnam reopening borders to tourists.
You can reach Homebase by phone/WhatsApp/Zalo at (+84) 964 245 404 or fill in a form to start owning from today!