VOV.VN - The Ministry of Planning and Investment (MPI) is poised to examine and consider promulgating a new decree relating to foreign investment issues in the country, including foreigners’ land use, according to MPI Minister Nguyen Chi Dung.
VOV.VN - Foreign nationals entering Vietnam are not granted land use rights as enjoyed by local citizens, according to a statement made by the Ministry of Natural Resources and Environment.
An enterprise or the State agency should be responsible for the management of apartment buildings and the building’s maintenance fund with the participation of representatives including residents, investors and local management agencies, said Dong Minh Son from Hanoi Construction Association.
The legal corridor for social housing development has recently changed towards providing more incentives than it was first mentioned in the Housing Law in 2005.
The National Assembly (NA) Standing Committee discussed preparations for the fifth sitting of the legislature and adopted two resolutions during six working days of its 23rd session that wrapped up in Hanoi on April 17.
The government will have breakthroughs in the reform of legal regulations and business investment conditions for the domestic real estate market this year, according to experts.
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.
The regulation on allowing foreigners to buy houses in Vietnam took effect three years ago, but the list of projects that can be sold to foreigners has still not been released.
Experts claim that despite the 2014 policy permitting non-Vietnamese citizens to purchase houses in Vietnam, variations in the interpretations of the policy leave investors sceptical and unsure about how to calculate risk.
Though some problems still exist in the legal framework, more and more foreigners are registering to buy houses in Vietnam.
Remittances to HCM City in the first quarter of this year are estimated to have reached US$1.15 billion, up US$250 million against last month.
(VOV) - Overseas Vietnamese (OVs) remittances to HCM City hit US$4.76 billion in the first 11 months of this year, said Nguyen Hoang Minh, deputy director of the State Bank of Vietnam (SBV), HCM City branch.
A provision contained in the Housing Law two months ago allowed foreigners to buy houses in Vietnam, but most real estate developers still have few foreign clients.
Overseas Vietnamese who want to buy a home in Vietnam are concerned regarding the sheer volume of evidence they must furnish to prove that they are in fact of Vietnamese heritage.
Vietnam’s real estate market has been heating up with a rapidly increasing number of purchases made not only by locals, but also foreigners and overseas Vietnamese who are keen to get on the property ladder.
The HCM City housing market is recovering thanks to effective government policies like allowing foreigners and overseas Vietnamese to buy houses, an industry insider has said.
Real estate companies have launched sale programs to attract foreign buyers as the revised Housing Law with effect from July 1 eases restrictions on foreign property ownership in Vietnam.
There will not be many foreign homebuyers who immediately jump into the Vietnamese market as soon as a new policy allowing them to do so takes effect, said an expert from US-owned realty consultant firm CBRE Vietnam.
(VOV) - Vietnam’s revised Housing Law officially came into effect on July 1, which allows Overseas Vietnamese (OVs) and other foreigners to acquire an ownership interest in real estate in Vietnam.
(VOV) - Last year, foreign direct investment (FDI) in real estate accounted for 40% of Vietnam’s total foreign investment.