On July 1st 2015, Viet Nam government, for the first time, started to allow foreigners to buy houses in Viet Nam. However, the government restrict the 30% quota for foreigners to buy in a project.
For example, as a foreigner, you can only buy max 300 apartments in a projects of 1,000 units. When you buy, you will sign the DA (Deposit Agreement) (2) first => then you'll sign the official contract called SPA (Sale & Purchase Agreement) (3) with the Developer.
Before DA, you should Make A Reservation (1) first (this amount is always REFUNDABLE) to find a chance in the hottest projects. The earlier you make the reservation, the more chance you can buy among the long waiting list. Usually, there'll be no or fewer chances to buy on Official Launching Date because many customers usually book it in advance
If there's no more quota of 30%, is it a stop for foreigners to buy? No! Luckily, the developers find a best way to let foreign customers own the apartments by signing the Long-Term Lease contract with the same Terms & Conditions as an SPA. The biggest difference is the WORDS/NAME of that contract. Here are the differences:
By David Thai - July 2 2018
Comments