diff --git a/libs/vkd3d/memory.c b/libs/vkd3d/memory.c
index 0352fbeb..f54042ff 100644
--- a/libs/vkd3d/memory.c
+++ b/libs/vkd3d/memory.c
@@ -263,6 +263,17 @@ static HRESULT vkd3d_try_allocate_device_memory(struct d3d12_device *device,
     return E_OUTOFMEMORY;
 }
 
+static bool vkd3d_memory_info_type_mask_covers_multiple_memory_heaps(
+        const struct VkPhysicalDeviceMemoryProperties *props, uint32_t type_mask)
+{
+    uint32_t heap_mask = 0;
+    if (!type_mask)
+        return false;
+    while (type_mask)
+        heap_mask |= 1u << props->memoryTypes[vkd3d_bitmask_iter32(&type_mask)].heapIndex;
+    return !!(heap_mask & (heap_mask - 1u));
+}
+
 HRESULT vkd3d_allocate_device_memory(struct d3d12_device *device,
         VkDeviceSize size, VkMemoryPropertyFlags type_flags, uint32_t type_mask,
         void *pNext, struct vkd3d_device_memory_allocation *allocation)
@@ -275,9 +286,24 @@ HRESULT vkd3d_allocate_device_memory(struct d3d12_device *device,
 
     if (FAILED(hr) && (type_flags & optional_flags))
     {
-        WARN("Memory allocation failed, falling back to system memory.\n");
-        hr = vkd3d_try_allocate_device_memory(device, size,
-                type_flags & ~optional_flags, type_mask, pNext, allocation);
+        if (vkd3d_memory_info_type_mask_covers_multiple_memory_heaps(&device->memory_properties, type_mask))
+        {
+            WARN("Memory allocation failed, falling back to system memory.\n");
+            hr = vkd3d_try_allocate_device_memory(device, size,
+                    type_flags & ~optional_flags, type_mask, pNext, allocation);
+        }
+        else if (device->memory_properties.memoryHeapCount > 1)
+        {
+            /* It might be the case (NV with RT/DS heap) that we just cannot fall back in any meaningful way.
+             * E.g. there exists no memory type that is not DEVICE_LOCAL and covers both RT and DS.
+             * For this case, we have no choice but to not allocate,
+             * and defer actual memory allocation to CreatePlacedResource() time. */
+            WARN("Memory allocation failed, but it is not possible to fallback to system memory here. Deferring allocation.\n");
+            return hr;
+        }
+
+        /* If we fail to allocate, and only have one heap to work with (iGPU),
+         * falling back is meaningless, just fail. */
     }
 
     if (FAILED(hr))