Most foreign assignees in Hanoi choose to rent furnished apartments in districts formerly held by the French. These neighbourhoods are accessible from international schools, establishments and business areas.
Vietnam is a haven for real estate investments as properties are generally cheaper in the country than in other parts of the region and rental yields have been showing strength over the past years. Effective July 1, 2015, foreigners with valid residence visas may purchase up to 30% of a condo or up to 250 houses in an administrative area with a 50-year lease.
Foreign owners also rent out these properties provided that notify their
local housing authorities. If you’re in the market for a housing unit, be reminded that you’re limited to own up to 30 per cent of the total number of units in a residential building. This is applicable to condominiums. You’re also limited to buy a maximum of 250
houses in an administrative unit. Home ownership of foreigners is up to 50 years, though you can apply for an extension.
Renting is a popular housing option among expats. A one-bedroom semi-furnished
apartment in the French Quarter District can be leased for US$600-700 per month. A fully-furnished studio flat in Tay Ho is available for US$500 per month while a fully-furnished villa in the Old Quarter District can be rented for US$1,500-2,000 per month. Check out real estate listings in major expat neighbourhoods in Hanoi.
