The investor’s main fear
“50-year leasehold means they take it back.” In practice the law grants one 50-year renewal on the same terms, and the apartment’s economics (rent plus appreciation) pay back in 8–12 years — long before renewal matters.
Freehold for a foreigner legally means owning a stake in a Vietnamese company that holds the asset. It pays off from ~$500K, where the $2–3K/yr structure costs are marginal.
What matters more than tenure
- the land lease under the building — verify the developer’s land is zoned residential, not “serviced apartments”;
- management quality in year 10 depends on the brand, not tenure.
Bottom line: below $400–500K, leasehold is the sweet spot of liquidity and cost. Freehold structures are a large-portfolio tool — and we build both.
