While actual land ownership is not possible at this time for non-Vietnamese, it is possible for ANYONE to obtain a 50-year Land lease and build/own a house. It is absolutely advisable to hire proper legal counsel before engaging in the purchase of these leases. Property values despite the downward trend, which began in late 2005, are still quite high in the cities. In Central Saigon, prices for top locations were comparable with major international cities such as New York, London, and Tokyo whereas countryside and non-prime properties are rather inexpensive. Mortgages are available to native Vietnamese however most properties are paid for in full using gold bullion in the form of Taels (slightly more than an ounce). Always check with a licensed real estate company who should also be able to refer you to a qualified and reputable attorney for help.