Yes, foreign nationals are permitted to buy homes at Hong Hạc City Phú Mỹ Hưng for at least 3 clear legal reasons: the 2023 Housing Law and 2024 Land Law (effective from 1 January 2025) both allow foreign individuals legally permitted to enter Vietnam to purchase commercial housing in state-approved projects; Hong Hạc City meets all the criteria for a valid commercial project; and Phú Mỹ Hưng Development Corporation recorded interest from foreign customers from the first launch in June 2025. In particular, this is a clear indication that the developer has the experience and support systems needed to serve international customers, as demonstrated by 30 years of operating Phú Mỹ Hưng New Urban Area in District 7, where approximately 50% of residents are foreign nationals.
In terms of the process, eligible foreign nationals must complete 5 main steps: confirming their eligibility, placing a deposit/booking, signing the deposit agreement, signing the official Sale Contract and receiving the Certificate of Ownership. In addition, all legal documents must be translated into Vietnamese and notarised in accordance with Vietnamese law. Furthermore, Phú Mỹ Hưng undertakes to assist with any issues arising from contract signing through to handover, enabling international customers to complete transactions remotely or through an authorised representative with peace of mind.
Regarding the distinction between groups, foreign nationals have greater access to commercial projects (villas and townhouses in Hong Hạc City), overseas Vietnamese have better ownership terms (long-term ownership, like Vietnamese citizens, rather than 50 years), while foreign nationals married to Vietnamese citizens have the greatest advantages because they can be joint owners and enjoy all the same rights as Vietnamese citizens. More importantly, identifying the group to which one belongs is the first and most important step before proceeding with any transaction.
Let us explore all the legal conditions, ownership limits and detailed Certificate of Ownership rights for each group below, so that you can make the most accurate and secure investment decision.
Are Foreign Nationals Permitted to Buy Homes at Hong Hạc City?
Yes, foreign nationals are permitted to buy homes at Hong Hạc City subject to 3 prerequisite conditions: they must be legally permitted to enter Vietnam, purchase within a state-approved commercial housing project, and not be entitled to diplomatic immunity under the law.
More specifically, foreigners’ right to buy homes is clearly recognised in Article 17 of the 2023 Housing Law (effective from 1 January 2025), which specifically classifies 3 groups of foreign organisations and individuals permitted to own homes in Vietnam. Hong Hạc City is a commercial housing development project officially approved in principle by the Bắc Ninh Provincial People’s Committee, meeting all the legal criteria for foreign nationals to participate in purchasing. Below are details of what foreign nationals are and are not permitted to do at Hong Hạc City:
What Types of Property Are Foreign Nationals Permitted to Buy at Hong Hạc City?
Foreign nationals are permitted to buy land-attached homes at Hong Hạc City, comprising detached villas, semi-detached villas, terraced townhouses and commercial shophouses – all of which are commercial housing types within an approved project, governed by Article 17 of the 2023 Housing Law.
Specifically, foreign nationals are permitted to purchase and own the following properties at Hong Hac City:
- Detached villas: 300–500m², designed over 3 floors, with a private garden on all 4 sides; these are the most premium properties in the portfolio, suitable for senior foreign experts working for Samsung, Foxconn and Canon in Bac Ninh
- Semi-detached villas: 200–300m², sharing one wall while retaining a private garden; more competitively priced than detached villas in the same sub-area
- Garden terrace townhouse: An area of 100–200m², suitable for both long-term living and service businesses on the 1st floor
- Commercial shophouses: Fronting the main internal road, ideal for foreign investors seeking to generate stable rental income from commercial operations
More importantly, this is what distinguishes the development from many others in Vietnam: Hong Hac City offers land-attached housing (rather than apartments) to foreign nationals, meaning that ownership includes both the building above and the associated land-use rights. This creates more sustainable property value and stronger potential for price appreciation than condominium apartments.
How Are Foreign Nationals’ Purchase Rights Restricted at Hong Hac City?
Foreign nationals are subject to 3 main legal restrictions: a limit of no more than 250 properties within a ward, a 50-year ownership term (rather than indefinite ownership as for Vietnamese nationals), and a prohibition on purchasing from individuals outside the development.
Specifically, these 3 restrictions operate as follows:
- 250-property limit per ward: The total number of terraced houses and villas owned by foreign nationals within a geographical area equivalent to a ward must not exceed 250 properties. Hong Hac City is located in Song Lieu Ward, Thuan Thanh District, Bac Ninh; with 2,844 properties across the development, the 250-property quota is unlikely to be filled quickly, but buyers should confirm the quota remaining with the developer at the time of the transaction
- 50-year ownership term: Foreign nationals may own a property at Hong Hac City for a maximum of 50 years from the date the Pink Book is issued; they may apply for one extension of up to 50 years if required, in accordance with the 2023 Housing Law
- Purchases only within commercial developments: Foreign nationals may not purchase homes from individuals outside the development (a secondary resale from an individual); they may only purchase from the developer or receive an assignment of a sale contract from an eligible individual seller
Conversely, despite the restrictions above, the following transaction rights remain fully protected by law: the right to resell, lease, mortgage for bank financing, gift and bequeath to an eligible heir. This ensures that the property’s liquidity and investment value are not diminished by the owner’s nationality.
What Legal Conditions Must Foreign Nationals Meet to Purchase at Hong Hac City?
There are 4 mandatory legal conditions that foreign nationals must meet to purchase a home at Hong Hac City: (1) a valid passport with a valid entry stamp, (2) not being entitled to diplomatic immunity, (3) purchasing within an approved commercial development, and (4) not exceeding the limit of 250 properties within a ward under Decree 95/2024/ND-CP.
Below are details of the key conditions that buyers should understand clearly before proceeding with a transaction:
How Do the Passport and Entry Conditions Apply When Purchasing at Hong Hac City?
The passport and entry requirement is the first and simplest condition to meet: foreign nationals only need a valid passport bearing a Vietnamese entry stamp, or equivalent legal documentation confirming valid entry into Vietnam at the time the sale contract is signed.
Specifically, this condition is set out in Article 3 of Decree 95/2024/ND-CP and has 3 important points to note:
First, eligibility is assessed at the time the transaction is signed, not when the property is handed over. This means that even customers living and working overseas may complete the transaction while visiting Vietnam, provided that their passport and entry stamp remain valid on the date the contract is signed.
Second, no work permit, long-term visa or permanent residence is required. Even visitors making a short trip to Vietnam on a tourist visa are eligible to sign a sale contract, provided that the visa remains valid on the signing date. This significantly broadens the group of foreign nationals who can access property at Hong Hac City.
Third, if the buyer authorises a representative to carry out the transaction, the power of attorney must be validly notarised both in Vietnam and in the buyer’s country of residence. Phu My Hung has experience handling authorisations from international customers, ensuring that the process proceeds smoothly and lawfully.
How Does the 250-Property Limit and the Permitted Ownership Area Apply at Hong Hac City?
The 250-property limit is the total limit on the number of terraced houses and villas that all foreign nationals collectively may own within a geographical area equivalent to a ward; it is not a limit applying to each individual buyer.
Specifically, the limit operates as follows: Song Lieu Ward (formerly Xuan Lam Commune) is the administrative unit where Hong Hac City is located. The total number of terraced houses and villas owned by all foreign buyers in this ward must not exceed 250 properties. With 2,844 properties across the development, 250 properties represent approximately 8.8% of the total supply, which is sufficient to meet demand from the international expert community in Bac Ninh without being rapidly exhausted during the initial phase.
In addition, foreign buyers should note that Vietnamese law stipulates that property must not be located in an area related to national defence or security. Hong Hac City is located in a civilian economic area and is not within a restricted zone, so foreign nationals fully meet the geographical eligibility requirements.
What Pink Book Rights Do Foreign Nationals Have When Purchasing a Home at Hong Hac City?
For a foreign national purchasing a home at Hong Hac City, the Pink Book is a certificate of ownership of assets attached to land, issued by the competent state authority, recording full ownership of the home and the form of “stable, long-term leased land use” for a 50-year term, together with full rights to sell, lease, mortgage and inherit.
More specifically, the Pink Book issued to foreign nationals at Hong Hac City has 3 important differences from the Pink Book issued to Vietnamese nationals:
First difference: The land information section states “stable, long-term leased land use” instead of “long-term land use” as for Vietnamese nationals. This accurately reflects the legal position: foreign nationals own the asset (the house), while the land remains under the management of the Vietnamese State, in accordance with Article 20 of the 2023 Housing Law.
Second difference: The ownership term is clearly stated as 50 years from the date the Pink Book is issued, unlike a Vietnamese Pink Book, which does not state a term (implicitly indicating long-term ownership). After 50 years, the owner may apply for one further extension of up to 50 years if they wish to continue owning the property.
Third difference: The owner’s name is recorded in Vietnamese in accordance with the passport, together with their nationality and passport number. This does not affect the Pink Book’s legal validity, but should be noted when carrying out subsequent secondary-market transactions.
More importantly, despite the difference in the land information section, a foreign national’s Pink Book remains fully legally valid for: securing bank financing with a mortgage, reselling to an eligible third party, leasing the property to generate income, and gifting it to an eligible heir. Hong Hac City’s partner banks (BIDV, VietinBank, Vietcombank and Standard Chartered) all accept a foreign national’s Pink Book as collateral for a property purchase loan.
What Are the Steps and Documents Required for Foreign Nationals to Purchase a Home at Hong Hac City?
The home-buying process at Hong Hac City for foreign nationals comprises 5 main steps, from confirming legal eligibility to receiving the Pink Book, with the total period from paying the deposit to handover taking approximately 18–24 months, depending on the sales phase.
Below is a detailed guide to each step, together with the documents required, helping foreign nationals complete the transaction in the correct order and avoid legal risks:
Step 1 – Confirming eligibility (before paying the deposit):
- Check that the passport is valid and bears a valid entry stamp
- Confirm that the buyer is not entitled to diplomatic immunity
- Contact Phu My Hung’s sales department to confirm that quota remains within the 250-property limit
- Prepare: a copy of the passport, proof of entry and a certified Vietnamese translation
Step 2 – Booking deposit (VND 200 million):
- Complete the booking deposit registration form, which includes a dedicated section for “Foreign nationals”
- Select a property from the catalogue and floor plan
- Pay the VND 200 million booking deposit by bank transfer, as required under anti-money-laundering regulations
- Note: the transaction must be made through a bank; cash payments are not accepted
Step 3 – Sign the Deposit Agreement:
- Complete the process at the Phu My Hung real estate sales centre in Hanoi (677 Lac Long Quan, Tay Ho) or Ho Chi Minh City
- Pay the first instalment, equivalent to 10% of the contract value
- The entire contract is in Vietnamese; foreign nationals must have an interpreter or a notarised bilingual translation
Step 4 – Sign the official Sale and Purchase Agreement:
- Pay a further 10% plus VAT to become eligible to sign the Sale and Purchase Agreement
- The Sale and Purchase Agreement must be notarised in Vietnam
- If authorising a representative: the Power of Attorney must be notarised at a Vietnamese consular authority in the buyer’s country of residence, or notarised domestically and consularly legalised
- From this step onwards, the buyer may apply for bank financing with a 0% interest rate during the grace period until handover
Step 5 – Taking handover and receiving the Pink Book:
- Complete the instalment payments according to the contract schedule
- Take handover of the property according to the official handover schedule (expected from 10/12/2026)
- Applying for the Pink Book: submit the application through the Bac Ninh Provincial Land Registration Office; Phú Mỹ Hưng supports the process
- The Pink Book states a 50-year term from the date of issue
How Do the Purchase Rights at Hồng Hạc City Differ for Foreign Nationals, Overseas Vietnamese and Foreign Nationals Married to Vietnamese Citizens?
Foreign nationals without Vietnamese origin have greater access to commercial projects and a wider range of property types; overseas Vietnamese have greater advantages regarding long-term ownership and the right to have their names on the Pink Book like Vietnamese citizens; foreign nationals married to Vietnamese citizens have the most advantageous position as they enjoy all the rights of Vietnamese citizens through joint ownership.
The table below directly compares purchase rights and ownership limits for the 3 groups at Hồng Hạc City, helping readers quickly identify their group and choose the most suitable option:
| Criteria | Foreign nationals without Vietnamese origin | Overseas Vietnamese (people of Vietnamese origin) | Foreign nationals married to Vietnamese citizens |
| Legal basis | Article 17 of the 2023 Housing Law | 2024 Land Law, Article 44 | Law on Marriage and Family + 2023 Housing Law |
| Eligible property types | Villas and townhouses in commercial projects | Villas, townhouses and detached houses | All property types available to Vietnamese citizens |
| Ownership term | 50 years, extendable once for a maximum of 50 years | Long-term (no fixed term) | Long-term for the portion registered in the Vietnamese spouse’s name |
| Unit limit | 250 units per ward (combined) | No limit | No limit |
| Pink Book | States “long-term land lease”, with a 50-year term | States “long-term land use” as for Vietnamese citizens | Jointly registered, stating “long-term land use” |
| Special requirements | Passport + valid entry into Vietnam | Passport + certificate of Vietnamese origin | Marriage certificate valid in Vietnam |
| Purchase from an individual outside the project | Not permitted | Permitted | Permitted (for the portion registered in the Vietnamese spouse’s name) |
However, among the 3 groups above, overseas Vietnamese have significantly expanded rights under the 2024 Land Law compared with the previous regulations: people of Vietnamese origin residing overseas are now treated equivalently to Vietnamese citizens in most real estate transactions, provided they submit a valid passport and a certificate of Vietnamese origin issued by a competent authority. Conversely, foreign nationals without Vietnamese origin must still comply with the limit of 250 units and the 50-year term, but this is not a significant obstacle given that actual demand from the international professional community in Bac Ninh remains far higher than the current quota.
What Special Advantages Does Hồng Hạc City Offer International Investors and Residents?
Yes, Hồng Hạc City has at least 3 special advantages over other projects in northern Vietnam when targeting international investors and residents: the Phú Mỹ Hưng developer has 30 years of experience serving foreign communities; Bac Ninh is the largest hub for international professionals in northern Vietnam; and the project recorded interest from foreign buyers from its first launch in June 2025.
Specifically, Bac Ninh’s current economic environment is home to Samsung Electronics, Foxconn, Canon Vietnam and DABACO, along with dozens of other international technology groups, creating a large foreign professional community with substantial demand for high-end housing. This is the key potential customer group for both primary residence and rental investment at Hồng Hạc City.
Will the Foreign Community in Phú Mỹ Hưng Urban Area, District 7, Be Recreated at Hồng Hạc City Bac Ninh?
There is strong potential for the international community at Hồng Hạc City to develop similarly to Phú Mỹ Hưng in District 7, where around 15,000 of its total 30,000 residents are currently foreign nationals. Bac Ninh has the highest concentration of international professionals of any northern province, thanks to the ecosystem of Samsung industrial parks and satellite corporations. International services, including schools, healthcare and dining, are gradually developing in response to actual demand. The biggest difference from District 7 is the timeframe: it took Phú Mỹ Hưng 30 years to reach a 50% international-resident ratio; Hồng Hạc City inherits an established brand and ecosystem, so its international community may form considerably faster.
What Solutions Are Available to Foreign Investors Who Want to Own Hồng Hạc City for More Than 50 Years?
There are 3 legal solutions for foreign investors seeking to exceed the 50-year limit: (1) extend the Pink Book once for a maximum of 50 years under the 2023 Housing Law, allowing ownership for up to 100 years in total; (2) purchase through an FDI enterprise established in Vietnam, with the ownership term linked to the investment project’s term and offering greater flexibility; (3) transfer the property to an eligible heir before expiry to keep the asset within the family. Each solution suits different investor groups and requires specialist legal advice from a property lawyer experienced in working with foreign nationals in Vietnam.
