Policy to be amended for foreigners’ housing purchase
As many as 126 foreigners have purchased houses in Vietnam as allowed in the National Assembly Resolution No.19/2008.
The Resolution adopted by the 12th National Assembly, permits foreign individuals and organisations to buy, own houses in Vietnam.
It is being executed in a trial basis, which will finish by the end of this year.
About 80% of the buyers are those who were married to Vietnamese citizens and the remaining 20% are from foreign businesses.
Deputy Minister of Construction Nguyen Tran Nam said during the piloting period this policy has revealed shortcomings in comparison with that of neighbouring countries, thus failing to encourage more purchases.
Thus, the Ministry has put forward a proposal to the National Assembly to amend the Resolution to fix these limitations.
Despite the emerging limitations, this is still a sound policy that helps attract foreign investment to Vietnam, affirmed Nam.