Tackling difficulties to help foreigners buy houses in Vietnam

The Ministry of Construction (MoC) proposed the Government to remove obstacles to create conditions for foreigners to buy houses in Vietnam. Accordingly, all foreigners applying for a visa for Vietnam for at least 3 months will be allowed to buy and own houses in Vietnam.

Duong Thuy Dung from CBRE Vietnam said since the Resolution 19 took effect in 2009, only more than 100 out of 80,000 foreigners (excluding overseas Vietnamese) bought houses in Vietnam. The number of foreign enterprises buying apartments is even lower, at 25.

According to CBRE, foreigners should be considered a group of reasonably expanded objects allowed to buy and own properties, instead of a “fire-controlling” measure when the realty market is in redundancy of high-class properties. Foreigners are watching the market closely. They will only buy houses when the market recovers.

Source:HA NOI MOI ONLINE -Writer: Lan Hương