How long is the home ownership period in Vietnam?

However, a frequently asked question is: "How long is the home ownership period in Vietnam?" The answer to this question depends on many different factors, including the owner's nationality, the type of real estate, and current legal regulations.

In addition to cases of stable long-term housing ownership such as individual houses built on residential land of households, individuals or apartments with a term according to the term of the housing construction investment project (which is considered for extension), there are some cases of limited-term housing ownership.

Depending on the type of real estate, the ownership period may vary. For land, the approved use period by the State may be long-term or limited (50 years). For apartment buildings, ownership is often linked to the land use period for which the project is allowed to operate. However, ownership of apartments also benefits from the right to extend when the use period expires.

The duration of home ownership in Vietnam depends on various factors, including the owner's nationality, the type of real estate and current legal regulations. (Illustration photo)

For foreigners, owning a house in Vietnam is different from that of Vietnamese citizens. According to the Housing Law 2014, foreigners have the right to own a house in Vietnam, but with certain conditions. Specifically, foreigners are allowed to own a house for no more than 50 years from the date of issuance of the certificate for the purpose of renting, buying, receiving gifts, or inheriting.

In addition, if the spouse of a foreigner is a Vietnamese citizen, they can own a house under the long-term ownership regime like Vietnamese people. In some cases, the 50-year period can be extended, depending on the provisions of the law at each time and the state's policies.

In case a foreign individual marries a Vietnamese person residing abroad and is allowed to enter Vietnam, he/she is allowed to own a house and has the rights of a house owner like a Vietnamese person residing abroad. (according to Point c, Clause 2, Article 20 of the Housing Law 2023)

For foreign organizations (foreign-invested enterprises, representative offices, branches of foreign companies in Vietnam, branches of foreign banks, foreign investment funds operating in Vietnam), they are allowed to own houses according to agreements in transactions of sale, lease-purchase, donation, and inheritance of houses.

However, it must not exceed the term stated in the investment certificate granted to that organization, including the extended period; the housing ownership period is calculated from the date the organization is granted the Certificate and is clearly stated in this Certificate (according to Point d, Clause 2, Article 20 of the Housing Law 2023).

Nguyen Vuong

Source: https://vtcnews.vn/thoi-han-so-huu-nha-o-tai-viet-nam-la-bao-lau-ar912779.html