Ask to see three documents before you commit money: the Department of Construction’s off-plan sale notice, the building permit, and the bank’s guarantee commitment. Law No. 29/2023/QH15 caps the deposit at 5% of the price.
None of these is a formality. Each is required by the Law on Real Estate Business 2023 (No. 29/2023/QH15), in force since 1 August 2024. Each is a numbered document, which makes it something you check rather than a promise you accept.
The Department of Construction’s notice comes first
Article 24 lists the conditions an apartment must meet before it can be sold off-plan. Among them, construction must have started. The developer must hold land-use papers and, where one is required, a building permit. For an apartment building, the foundation work must have passed acceptance.
The developer then notifies the Department of Construction. Under Article 24(4), the department checks those conditions within 15 days and replies to the developer in writing.
That written reply is the document to ask for. Both Hanoi notices in the table below carry a reference number ending in “SXD-QLN”. A sales agent’s word that a project has “full legal status” does not replace it.
The deposit is capped at 5%, and comes after the notice
Article 23(5) of the Law on Real Estate Business 2023 allows a developer to take a deposit of no more than 5% of the sale price. It may do so only once the apartment meets the conditions for sale. The deposit agreement must state the price.
That fixes the order of events: the notice first, the deposit second. A request for money before the notice exists is a question for your lawyer before it is a payment.
The bank guarantee covers you if handover fails
Article 26 requires the developer, before it sells off-plan, to have a guarantee approved by a bank operating in Vietnam. The bank then sends the developer a written commitment to issue guarantee letters to the project’s buyers, and the developer must give you a copy when you sign. If the developer does not hand over as the contract promises and does not repay what you advanced, the bank pays it on your request, under the terms of your guarantee letter.
Two details matter at signing. You choose whether your sale and purchase agreement comes with the guarantee, so declining it is your decision, not the developer’s. If you keep it, the developer may collect contract payments only after you have received the guarantee letter.
What two Hanoi projects on sale publish today
Both developers below list these documents on their own project websites.
| Project | Developer | Building permit | Off-plan sale notice |
|---|---|---|---|
| Celestine Westlake | Vinaenco | 05/GPXD, 27 March 2023 | 7842/SXD-QLN, 24 June 2025 |
| Noble Crystal Tay Ho | Sunshine Group | 19/GPXD, 11 August 2023 | 5156/SXD-QLN |
Celestine Westlake’s developer also lists its bank guarantee agreement with BIDV, No. 01/2023/5812518/HĐCBL, signed on 7 November 2023.
Ask for each document by number. Our page on Hanoi projects now on sale links to every project we follow.
After signing, the payment schedule has limits too
Article 25 of the Law on Real Estate Business 2023 caps what a developer can collect on an off-plan purchase:
- The first payment, deposit included, is capped at 30% of the contract value.
- Payments before handover are capped at 70%, or 50% when the seller is a foreign-invested company treated as a foreign investor under the Law on Investment (Article 10(4)).
- Until your Pink Book is issued, the seller may not collect more than 95%.
Add up every line of the developer’s payment schedule, deposits included, and compare the totals with these caps before you sign.
Foreign buyers have two more checks. The project must be on the Hanoi Department of Construction’s list of projects open to foreign ownership, under Article 16 of the Law on Housing 2023. The 30% foreign quota in your block, set by Article 19 of the Law on Housing 2023 (No. 27/2023/QH15, in force since 1 August 2024), must still have room. Our guide to foreign ownership rules covers how the quota is counted.
What we check before you commit
We are not the developer of these projects, and we have no developer inventory to push. Our buying advisory covers these checks: title and building due diligence, a foreign ownership quota check before the deposit, and contract review in English.
When the apartment is handed over, the same team can lease and manage it for 4% of annual rent. Our handover checklist covers the day you receive the keys.
Common questions
Can a developer take a deposit before the Department of Construction's notice?
Article 23(5) of the Law on Real Estate Business 2023 allows a deposit of up to 5% of the price only once the apartment meets the conditions for sale. The Department of Construction confirms those conditions in writing.
Do I have to take the bank guarantee?
No. Under Article 26, you choose whether your sale and purchase agreement comes with the guarantee. If it does, the developer may collect contract payments only after you have received the guarantee letter.
How much can I be asked to pay before handover?
No more than 70% of the contract value, or 50% when the seller is a foreign-invested company treated as a foreign investor under the Law on Investment (Article 10(4)), under Article 25. The first payment, deposit included, is capped at 30%.
