Three Main Types of Spiritual Real Estate
According to Pham Thi Mien of the Vietnam Association of Realtors’ Institute for Real Estate Research (VARS IRE), the market can generally be divided into three groups.
The first includes traditional burial areas and family memorial plots. The second consists of centralized cemeteries that provide cremation and ash-storage services. The third covers cemetery parks and memorial gardens, which combine burial plots with landscaping, infrastructure, memorial facilities, and long-term management services.
A number of projects in northern provinces, including areas of Tuyen Quang and Phu Tho, span tens to hundreds of hectares. Prices can range from VND 45–75 million for an individual burial plot to VND 800 million–3 billion for family memorial plots.
In the south, particularly in Dong Nai, individual burial plots may be priced at around VND 98–180 million, while family plots ranging from 100 to 300 square meters can cost approximately VND 1.3–5 billion.
These prices have also raised an important legal question: Can buyers obtain a separate land use right certificate for a cemetery plot or burial position, and can such an asset subsequently be mortgaged?
Legal Framework Remains a Key Concern
Lawyer Hoang Ngoc of the Hanoi Bar Association said that obtaining separate certificates and subdividing cemetery land can be difficult because such land is often leased by the State. The legal rights attached to cemetery land therefore differ from those associated with conventional residential property.
In practice, banks generally do not accept cemetery plots as collateral in the same way as residential or commercial real estate. Transactions are often structured through contracts or assignments that provide buyers with rights to manage and use a specific area within a cemetery project.
Against this backdrop, experts have proposed studying a separate certification mechanism specifically for cemetery plots or burial positions. Such a mechanism could clearly define buyers’ rights and, where eligibility requirements are met, potentially provide a legal basis for transfer, gifting, inheritance, or mortgage.
In the longer term, experts also suggest integrating information on management and use rights into electronic identification systems such as VNeID, helping improve transparency and facilitate the management of these assets.
VARS IRE has likewise called for clearer regulations governing certification and the transfer of cemetery-related properties.
Certification May Be Possible Under Existing Regulations
According to Vu Sy Kien, a representative of the land administration authorities, Article 143 of the 2024 Land Law provides for the issuance of certificates for individual land parcels.
Therefore, where a cemetery project has been properly planned and divided into individual areas or land parcels, certification may, in principle, be possible. The duration of land use rights—whether long-term or for a fixed period—would depend on the specific type of land and the nature of the project.
However, the practical implementation of these regulations remains incomplete, while demand for such products has yet to reach a level that would create strong pressure for a separate legal framework.
Beyond Land, Management Services Are Also Important
Unlike conventional real estate, cemetery and memorial products typically involve more than the underlying land. They may include infrastructure, landscaping, management, operation, maintenance, and long-term memorial services.
This means that professional management and operating entities will play an important role in ensuring service quality and maintaining the value of these projects over time.
For developers, experts recommend improving mechanisms for developing and managing land banks, enhancing pricing transparency, and clearly separating the value of land, infrastructure, and service components. Long-term commitments regarding management and maintenance should also be clearly communicated to customers.
Need for a Clearer Legal Framework
The development of spiritual real estate is creating a new set of legal and management requirements for Vietnam’s property market.
A clearer framework is needed to determine buyers’ rights, establish appropriate certification mechanisms, regulate transfers and other transactions, and ensure professional long-term management.
A separate certification mechanism, if carefully designed and incorporated into the broader land administration system, could provide greater legal certainty for buyers while creating a more transparent foundation for the sustainable development of Vietnam’s cemetery and memorial property market.
