If I buy a house with installments and there is damage, who is responsible for maintenance in Vietnam? How many apartments can foreigners buy in Vietnam?

If I buy a house with installments and there is damage, who is responsible for maintenance in Vietnam?

I have bought an apartment building with installments for 5 years, after 3 years of contributing, the house has some damage. May I ask in this case that my side or the seller have to maintain this house by themselves. Thank!

Reply:

Pursuant to Article 125 of the Law on Housing 2014 stipulates:

1. The installment sale of housing shall be agreed by contracting parties and stated in the housing sale agreement; within the installment period, the housing buyer shall exercise his right to use the house and fulfill obligations to maintain that house, unless that house is under warranty period as prescribed in this Law or otherwise agreed.

2. The buyer buying house by installments may not conduct transactions in housing sale, giving, exchange, mortgage, or capital contribution with other person until he/she pays off the total amount, unless otherwise agreed.

During the installment period, if the buyer dies, his/her lawful heir(s) may exercise rights and fulfill obligations of the buyer, when the heir(s) pay off the total amount to the seller, they shall be granted the Certificate.

3. If the buyer wishes to return the house during the installment period and the seller agrees, both parties shall agree about the method of house return and the refund of the housing payment.

On the other hand, in Article 85 of the Law on Housing 2014, the house shall be given warranty from the date on which the construction has been completed and the house is permitted to put into operation with the warranty period below:

a) At least 60 months regarding apartment buildings;

b) At least 24 months regarding separate housing.

Thus, the apartment building will be given warranty for at least 60 months from the date on which the construction has been completed and the house is permitted to put into operation. Therefore, for your case, it is still within the warranty period, so the seller will be responsible for maintenance within the warranty in Vietnam.

How many apartments can foreigners buy in Vietnam?

I am currently living in Vinhomes Tan Cang. I see a lot of foreigners living in the neighborhood where I live. I found out that they not only have one apartment, but also have an apartment for rent. So please ask: How many apartments can foreigners buy?

Reply:

In Clause 1, Article 159 of the Law on Housing 2014, foreign entities eligible for the homeownership in Vietnam and forms of the homeownership in Vietnam relating to foreign entities, including:

1. Foreign entities eligible for the homeownership in Vietnam include:

a) Foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;

b) Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization);

c) Foreign individuals who are allowed to enter Vietnam.

According to Point a, Clause 2, Article 161 of the Law on Housing 2014, there are provisions on rights of foreign entities as homeowners as follows:

a) He/she may not buy, rent and purchase, receive, inherit and own more than 30% of apartments in an apartment building; or more than 250 houses regarding separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division.

Thus, according to the above regulations in Vietnam, foreign individuals are entitled to buy apartments in Vietnam. But how many apartments can be owned depends on the number of apartments in that apartment building, but owning the number of apartments must meet the above requirements.

Can foreign-invested enterprises buy an apartment building in Vietnam?

I have a purchased apartment belonging to an apartment project of a large investor in Ho Chi Minh City. But now I am not here and am also having difficulty and want to sell this apartment. Currently there is a company with foreign capital that wants to buy this apartment. But I don't know if they can buy my apartment?

Reply:

According to the Law on Housing 2014, foreign entities eligible for the homeownership in Vietnam include:

a) Foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;

b) Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization);

c) Foreign individuals who are allowed to enter Vietnam.

Thus: Based on the above provisions in Vietnam, foreign-invested enterprises are eligible to own houses in Vietnam.

Foreign-invested enterprises may own houses in Vietnam through the following forms:

a) Invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;

b) Buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.

Thus: Pursuant to the above provisions in Vietnam, foreign-invested enterprises are entitled to purchase commercial houses including apartments and separate houses in housing construction investment projects (except for the defense and security areas, which shall comply with the Government's regulations).

However, according to the provisions of Clause 4, Article 76 of Decree 99/2015/ND-CP:

4. In an area whose population is equivalent to that of a ward, if there is a commercial housing construction project for sale or lease-purchase, the quantity of detached houses that may be owned by foreign entities is specified below:

a) Where the quantity of detached houses of an project is fewer than 2,500, foreign entities may own up to 10% of the houses of such project;

b) Where there is only one project whose quantity of detached houses is equivalent to 2,500 houses, foreign entities may own up to 250 houses of them;

c) Where there are two or more projects where the total quantity of detached houses does not exceed 2,500 houses, foreign entities may own up to 10% of the houses of each project.

Thus: Based on the above examples, it is possible to determine that a foreign-invested company is eligible to buy the apartment that you are planning to sell. However, in order to determine whether this foreign-invested enterprise can buy that apartment in Vietnam, it is necessary to meet the provisions of Clause 4, Article 76 of Decree 99/2015/ND-CP (above).

If the foreign-invested enterprise satisfies the conditions on the number of apartment buildings that the foreign-invested enterprise can own in Vietnam, that company may buy and own your apartment in accordance with the law in Vietnam.

Best regards!