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Foreigners still hesitant about buying property in Vietnam

A provision contained in the Housing Law a year ago allowed foreigners to buy houses in Vietnam, but most foreigners are still hesitant about buying property in the country. According to Duong Thuy Dung, Director of Research and Consulting, CBRE Vietnam, foreign buyers still need more time to understand the market, the legal status of a project as well as developer’s reputation, agency trust, etc. in the upcoming time, developers should run large sales programs to promote their products to foreigners in other neighboring countries in order to attract more overseas buyers.