Over 750 foreigners receive certificates of home ownership
More than 750 foreigners have received certificates of home ownership in Vietnam since the Housing Law 2014 took effect, according to the Ministry of Construction.
Hanoi (VNA) – More than 750 foreigners havereceived certificates of home ownership in Vietnam since the Housing Law 2014took effect, according to the Ministry of Construction.
However, several real estate experts said the figure is yetto meet expectations though housing policy for foreigners in Vietnam has beenloosened, partly due to their job duration, property location and prices.
Nguyen Khanh Duy, Director of the Savills Ho Chi Minh City’sHousing Sales Department, said legal procedures for foreigners’ home ownership havereceived positive feedback from both sellers and buyers after nearly threeyears of the law enforcement.
Thousands of realty transactions involving foreigners havebeen successful in Ho Chi Minh City over the past two years, he said.
The attraction of foreigner home buyers in Vietnam is hopedto increase the inflow of capital and liquidity in the market, particularly thehi-end segment.-VNA
The Hanoi People’s Committee has agreed to grant certificates of land-use rights and house ownership, known in Vietnam as a “red book”, to overseas Vietnamese and foreign home buyers.
Expanding foreign home buyers is now very necessary to help foreigners enjoy a better life in Vietnam as well as help boost the domestic real estate market.
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Illustrative photo (Source: VNA) 
