Mortgages in Vietnam

As of December 2016, mortgage loans cannot be issued to foreign residents in Vietnam. The country’s authorities allowed foreign buyers to purchase homes and apartments in Vietnam on 1st July, 2015, and the local lending market is not yet developed.

"Vietnamese banks only provide mortgage loans to foreign citizens holding residence cards (which are issued for no more than three years at a time) and those married to a Vietnamese spouse. Even when this is the case, the mortgage is granted only for the residence card's period of validity," says Oleg Morozov, the owner of the VinEstate real estate agency, a Tranio.com partner in Vietnam.

Victoria Hoang, Sales and Leasing Manager at Indochina Capital, another of Tranio´s partners Vietnam comments: "We hope that foreign nationals will be able to get mortgage loans in Vietnam in the near future. The country´s major banks have already started working in this direction."

* 1 VND = 0.000044 USD (as of spring 2017)

Documents

Nationals and residents married to Vietnamese nationals submit the following documents to Vietnamese banks when applying for a mortgage:

• mortgage application;
• identity card;
• marriage certificate;
• proof of income;
• sales contract.

Extra costs

HSBC’s requirements mean borrowers incur additional expenses on the property assessment, and pay mortgage arrangement, registration and fire insurance fees.