VOV.VN -Prices of luxury and high-end real estate in Vietnam are still attractive to foreigners when compared with other Southeast Asian regional markets, said the chair of the Vietnam National Real Estate Association, Nguyen Tran Nam, in a recent interview.
More than one year after Vietnam eased restrictions on foreign property ownership laws, the lack of crucial guidelines is proving to be a major challenge for developers on the hunt for foreign buyers.
The development of Cam Ranh has attracted many international resort and hotel management corporations such as Accor, Carlson Rezidor and Mövenpick.
Despite the recent revision to the Law on Housing, which has created a more favourable legal system for foreigners to buy and own houses in Vietnam, there are still some barriers which should be removed to encourage foreign buyers.
Vietnam’s real estate market has been heating up with a rapidly increasing number of purchases made by not only locals but also foreigners and overseas Vietnamese keen to get on the property ladder.
A host of solutions to shape up the Vietnamese fine arts market, which is less developed than its regional peers, were put forward at a workshop in Hanoi on July 30.
With just two months remaining before the implementation of the amended Law on Housing which increases the rights of foreigners to buy house in Vietnam, many concerns still persist among potential foreign property buyers.
Foreign buyers from Japan, the Republic of Korea, Singapore, and the UK are falling for apartments in the Masteri Thao Dien project in Ho Chi Minh City.