One of the first questions international buyers ask about Grand Marina Saigon — Vietnam's first Marriott & JW Marriott Branded Residences, set on the riverfront at Ba Son in District 1, HCMC — is simple: "Can I actually own the apartment, and for how long?" The short answer is yes, but through a 50-year leasehold mechanism reserved for foreign individuals, which differs from the permanent title (pink book) granted to Vietnamese citizens. This article takes a deep dive into exactly that mechanism.
Can foreigners buy and own property in Vietnam?
Yes — foreign individuals who legally enter Vietnam are permitted to buy and hold title to commercial apartments for 50 years, with the right to renew under the law.
Under Vietnam's Housing Law, foreign individuals and organisations may own commercial housing (including condominium apartments) in projects that are eligible for sale to foreigners. At Grand Marina, foreign buyers receive lawful ownership with full rights to use, lease and transfer during the ownership term — the only meaningful difference from Vietnamese buyers is the duration. This is the core distinction to understand clearly before you place a deposit.
How does the permanent pink book differ from 50-year ownership?
Vietnamese buyers receive a permanent (open-ended) pink book, while foreigners receive 50-year ownership counted from the date the certificate is issued, with the option to renew.
The difference lies in the term stated on the land-use and home-ownership certificate (commonly called the "pink book"). To make it concrete, here is a quick side-by-side comparison of the two ownership types within the same project, such as Grand Marina:
| Criterion | Vietnamese buyer | Foreign individual |
|---|---|---|
| Ownership term | Permanent (open-ended) | 50 years, renewable |
| Type of title | Permanent pink book | Pink book stating a 50-year term |
| Right to lease | Yes | Yes |
| Right to transfer | Yes | Yes (to Vietnamese or eligible foreign buyers) |
| Right to inherit | Yes | Yes (subject to eligibility rules) |
| Cap per building | No limit | Max 30% of units per building |
As the table shows, foreigners still hold nearly all practical rights — to live in, lease out, resell, or bequeath the home — simply tied to a 50-year horizon rather than an indefinite one. If you want to understand the pink book itself and the difference between these two terms in more depth, read our guide Vietnam Pink Book Explained: Permanent vs 50-Year Title.
Who is eligible to buy as a foreigner?
Foreign individuals legally permitted to enter Vietnam, as well as foreign organisations operating in Vietnam, are eligible to buy commercial housing.
The eligibility rules are relatively open. In practice, the following groups typically qualify:
- Foreign individuals permitted to enter Vietnam (a valid entry stamp in the passport is enough);
- Foreign organisations, foreign-invested enterprises, branches and representative offices operating in Vietnam;
- Foreign investment funds and branches of foreign banks operating in Vietnam.
Worth noting: you do not need a permanent residence card or a large investment to qualify — legal entry is sufficient. That said, individual eligibility and paperwork can vary case by case, so treat this as general reference information and have your own situation checked before deciding.
Before we move on to the cap, if you want a quick confirmation of whether you qualify, don't hesitate to reach out.
How does the 30% foreign cap actually work?
By law, foreigners may own at most 30% of the total apartments in any single condominium building, so the number of "slots" for foreign buyers is finite.
This is the single most important rule affecting whether you can secure the unit you want. Each tower at Grand Marina (Lake, Lagoon, Cove, Sea) has its own 30% pool of units reserved for foreigners; once that pool is full, the remaining units in the building can only be sold to Vietnamese buyers. As a result, for the most sought-after units — high floors with Saigon River views, or two-bedroom layouts — the foreign quota can sell out early within each sales phase. To learn how to check whether a tower still has slots open, read our deep dive The 30% Foreign Quota: How to Check Slots Are Still Open.
Note: unit counts, remaining ratios and availability lists shift constantly with each sales phase and secondary-market transaction, so the exact figure should be confirmed directly at the moment you ask.
What happens after 50 years? The renewal mechanism
When the 50-year term expires, a foreign individual may be granted a renewal under the Vietnamese law in force at that time, provided they still belong to the eligible ownership category.
Many buyers worry that they will "lose everything" after 50 years, but that is not how it works in practice. The law allows the ownership term to be renewed at expiry, and throughout the ownership period you are fully able to:
- Resell the apartment to a Vietnamese buyer — at which point it typically converts to permanent ownership under the new owner;
- Transfer it to another eligible foreign individual, who continues the remaining term;
- Bequeath it to someone within the category eligible to own homes in Vietnam;
- Apply for renewal as the term nears its end to continue holding title.
In other words, the 50-year mark is the term stated on the certificate, not "the day the apartment disappears." In reality, most foreign investors resell or transfer well before the term runs low, so the renewal mechanism is mainly a safety net for very long-term holders. The detailed renewal rules may be adjusted under the law in force when you file, so treat this as a general framework for reference.
Procedure, paperwork and payments for foreigners
Foreigners need a valid passport, a legal entry stamp, and payments made through official banking channels in order to qualify for the certificate and to repatriate funds later.
On documents and money flow, the core items to prepare are:
- A valid passport including the page with the Vietnam entry stamp;
- A bilingual sale-and-purchase contract with the developer (Grand Marina provides translation and bilingual paperwork support);
- Payment by transfer from a legitimate account, through a bank in Vietnam, to create the records needed to repatriate capital and profits later.
Bringing funds in to buy, and taking capital and profits back out of the country, is a separate and crucial topic for investors — you should read our guide Foreign Buyer Payments: Remitting Funds In and Profits Out to prepare the right documentation from your very first payment. Because Grand Marina is a project of the kind explained in What are branded residences?, operated by Marriott, the legal and sales teams are also familiar with processes designed for international buyers.
Does 50-year ownership affect investment value?
50-year ownership does not erase liquidity: the apartment can still be leased, resold and transferred, and actual value depends on location, brand and market timing.
Grand Marina benefits from its core District 1 location — about 250 m from Ba Son metro station and 200 m from the Saigon River — together with the Marriott operating brand. According to market research firms such as Knight Frank and Savills (2023–2024 data), branded residences globally are typically priced 25–35% above comparable non-branded products. This is market reference data, not a return guarantee — actual outcomes still depend on the specific unit, timing and policy. We make no "will definitely appreciate" promises; you should review the legal documents and the specific price list carefully before deciding. You can also browse common questions on our FAQ page.
The legal mechanism is the part that confuses buyers most, yet it is also the easiest to clear up once someone walks you through it with the actual documents.
Note
Prices, areas and timelines may change per the developer's official announcements. Please contact us on Zalo 0903 475 802 for the latest documents and price list.