Back Stories » Vietnam » Vietnam Removes Housing Restrictions For Overseas Vietnamese

Starting July 1, overseas Vietnamese will be able to buy property in Vietnam without any restrictions.


Related Articles:

Vietnam Approves Law Allowing Foreigners To Buy Property

Foreigners Will Be Able To Own Property In Vietnam For 100 Years: Decree

Can Foreigners Rescue the VN Real Estate Market?


The amended Housing Law will put overseas Vietnamese on equal footing with Vietnamese residents, reports Thanh Nien.

The law also states that foreigners in Vietnam can buy houses in "certain urban areas" though these have yet to be specified. Additionally, diplomats are not eligible to buy property.

“Foreigners and foreign organizations which invest in housing projects in Vietnam can also buy houses in the country, so as foreign-invested companies, banks or funds operating here, the law said,” wrote the paper.

Last November, Vietnamese lawmakers passed a law permitting land ownership for individuals that hold a valid visa and companies operating in the country with the caveat that foreign ownership not exceed 30% of any apartment building or 250 houses in a ward.

Time will tell if the amended law will be effective as previous attempts to even the playing field have proved unsuccessful due to their vagueness and that fact that land-lease certificates granted in real-estate purchases are good for a maximum of 50 years.

A draft degree announced last month sought to increase foriegn ownership periods to 100 years and give foreign individuals married to Vietnamese citizens freehold tenure.

[Photo via Hà Nội: CAPITAL City]

Related Articles

in Vietnam

$14 Million Approved For Restoration Of Hanoi’s 112-Year-Old Long Biên Bridge

The fate of one of Vietnam’s most beloved and storied structures took another positive turn last week when the government approved a $14 million restoration package for Long Biên Bridge.

in Vietnam

'Amazing Race Vietnam' Apologizes for Challenge Harming Coral Reef

An underwater challenge during this year’s installment of The Amazing Race Vietnam is not sitting well with environmentalists.

in Vietnam

'Engaging With Vietnam' Conference Ruminates on Heritage in Huế

“Living with Heritage, (Re)Creating Heritage: Vietnam and the World” is the title of the 14th Engaging with Vietnam conference, a series of activities including academic panel discussions, keynote tal...

in Vietnam

10 Beautiful Photos of Sapa's Majestic Snow

Last weekend's snowstorm in Sapa drew photographers from all over northern Vietnam who jumped at the opportunity to capture some great photos of the town's snow-covered hills, roads and residents.&nbs...

in Vietnam

10 Killed, Over 30 Missing in Central and Northern Vietnam as Storm Son-Tinh Brings Flash Floods

Heavy rains from storm Son-Tinh, which eventually weakened to a tropical depression, have caused flash floods and fatalities in central Vietnam.

in Vietnam

104-Year-Old Great-Great Grandmother Fights Off Robber

Taking advantage of the elderly will inevitably result in some bad karma, a lesson a Dong Nai man quickly learned after attempting to rob Vo Thi Bai, a 104-year-old woman.

Partner Content