China
Off-plan property
A home that is still being built, or not yet started, bought from the developer and paid for in stages.
How it works in Vietnam
In Vietnam the buyer signs with the developer and pays in instalments until handover. The ownership certificate (sổ hồng) is issued after handover.
If an off-plan home is resold, it does not qualify for the only-home exemption from personal income tax on transfer. The calculator treats it as a purchase from a developer.
Related terms
- Primary market
Buying a new home directly from the developer, usually an apartment.
- Sale and purchase agreement
The contract between buyer and seller that sets the price, how it is paid and when the home is handed over.
- Personal income tax on transfer
A tax the seller pays when an individual sells a home, charged as a percentage of the sale price.
Learn more
- Buying off-plan in Vietnam: VAT, maintenance fund, payments
Buying a new apartment from a developer in Vietnam: VAT, the maintenance fund, the registration fee, and the legal caps on payments before handover.