Leasing, lending condominium apartments in Vietnam has always been a conspicuous topic to both Vietnamese and foreigners in case of considering real estate investment in Vietnam. With their merit of multi-purpose, serving both residential function and service office function, shall duly purchasers, especially foreigners, be eligible for using officetels for the business of office leasing, lending or other purposes than residence?

For studying this matter, the Ministry of Construction has sent an Official letter No. 73/BXD-QLN dated 16 April 2018 to the Department of Planning and Investment of Ho Chi Minh City for the case of Sunrise Chemical Supply Co.,Ltd and C.P.M,S.A Co.,Ltd regarding the some problems of investment project registration.

Accordingly, foreigners are allowed to purchase Officetel for residence in Vietnam, not for other non-residential purposes comprising leasing, lending as offices.

Specifically, this Official letter stated that at Article 6.11 Law on residential housing 2014, using condominium apartments not for residential purposes is forbidden. Furthermore, under Article 14.2 of Law on Real estate business 2014, Vietnamese residing in foreign country foreign-invested enterprises are allowed to purchase housings, constructions for the purpose of locating offices, facilities of manufacturing, business, service in conformity with the function of such housings, constructions. Hence, according to the reference herein, (the laws) does not regulate the right to lease or to lend the apartment of foreigners.

Therefore, under the explanation of the Official letter No. 73/BXD-QLN, it is understood that foreigners in case of leasing, purchasing, lease purchase apartments, even officetels, are not allowed to use such apartments for other purposes than residence.