Ownership: indefinite versus 50 years
The decisive difference is in the land registry. Thailand's Condominium Act has allowed foreigners full ownership of apartments within the 49 percent quota for decades, registered in their own name, indefinite and inheritable. Vietnam's Housing Law of 2014 only opened the market to foreigners in 2015: permitted are apartments in commercial housing projects, with a term of 50 years and an option to extend, and no more than 30 percent of the units per building may go to foreigners. Land in Vietnam belongs in principle to the state; owners hold rights of use. Anyone who takes the word ownership literally will find it in Thailand.
The comparison in figures and rules
| Criterion | Thailand (Pattaya) | Vietnam (Ho Chi Minh City, Da Nang, Nha Trang) |
|---|---|---|
| Form of ownership for foreigners | Foreign Freehold, indefinite, inheritable | 50 years with an option to extend, land remains state property |
| Foreign quota | up to 49% of the floor area per building | up to 30% of the units per building, plus caps per district |
| Legal framework | Condominium Act since 1979, standard contract, consumer protection | Housing Law 2014, reformed 2023, practice still developing |
| Capital transfer | FET certificate, repatriation of sale proceeds documented | currency controls, repatriation with proof requirements |
| Entry price new build | from around 2 million THB, about 53,000 EUR | similar or higher per square metre in prime locations of the major cities |
| Realistic rental yield | net 5 to 8% p.a. (rule of thumb: 10 monthly rents divided by purchase price) | gross often 4 to 6%, strongly project-dependent |
| Residency | visa-free entry, retirement, DTV, LTR and Privilege visas | e-visa up to 90 days, long-term stays more complicated |
The yield range for Thailand is our own experience figure from Pattaya; the Vietnam figures are market ranges from Ho Chi Minh City and the coastal cities. You should check both project by project rather than adopting them as blanket values.
Everyday life, healthcare, exit
Anyone who wants to live there or spend the winter compares more than paragraphs of law. Thailand has an expat infrastructure that has grown over decades: private hospitals of international standard, German-speaking doctors and advisers, clubs, a dense network of flight connections. Vietnam is catching up, but in the coastal cities it is noticeably younger in everything long-term residents need. On resale, liquidity counts: Pattaya has an established resale market with international buyers, details in the article Reselling a condo. In Vietnam a foreigner usually sells to another foreigner within the quota or to Vietnamese buyers, with the remaining term as a price factor.
The honest verdict
Vietnam is the growth bet: a young population, industry, rising prices, but with a limited term, currency rules and a legal framework that is still settling. Thailand is the wealth decision: real ownership, a market with 5 to 8% net rental yield and a tendency of 3 to 5% price development per year, plus an everyday life that works for people from the German-speaking countries. Anyone who wants both buys in Thailand first and looks at Vietnam later. How Pattaya compares with Phuket is covered in the article Pattaya or Phuket, and the buying guide explains how to enter the market.
Frequently asked questions
Can foreigners buy property in Vietnam?
Yes, apartments in approved commercial housing projects, since 2015. The term is 50 years with an option to extend, no more than 30 percent of the units per building may go to foreigners, and land remains state property.
What is the biggest difference to Thailand?
The form of ownership: in Thailand a condominium within the 49 percent quota is indefinite, inheritable full ownership. In Vietnam it is a time-limited right with an option to extend.
Where is the rental yield higher?
Comparable, and project-dependent. In Pattaya we realistically reckon with 5 to 8 percent net, while in Vietnam's major cities gross figures are often 4 to 6 percent. What matters is occupancy, not the brochure.
Is resale easier in Thailand?
As a rule, yes. Pattaya has an established international resale market and no remaining term that depresses the price. In Vietnam the 50-year limit weighs more heavily on the value with every passing year.
For whom is Vietnam still interesting?
For experienced investors who put growth above certainty, are rarely on site and can handle currency controls and a young legal framework. For owner-occupiers and winter residents from the German-speaking countries, Thailand remains the simpler choice.
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