Foreigners allowed house ownership in Da Nang

The Department of Construction of central Da Nang city has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Son Tra peninsula and six in downtown Hai Chau district.
Foreigners allowed house ownership in Da Nang ảnh 1FPT City in Da Nang offers apartments, trading centres and offices for more than 10,000 people (Photo: VNA)
Da Nang (VNS/VNA) - The Departmentof Construction of central Da Nang city has listed 17 commercial housingprojects that allow foreigners to own homes, including eight in Son Trapeninsula and six in downtown Hai Chau district.

The department made an official announcement onFebruary 14, stating that these projects were built as trading centres,condotel complexes and apartments.

It said foreigners will be given ownershipcertificates when buying apartments or houses at the Lapaz Tower apartment; theHan River side 34-storey Aruza, Hoang Anh Gia Lai Lake View; Da Nang Plaza; FPTCity, An Vien Residential Zone and Harmony Apartment Tower.

Other projects, including Blooming Tower,Golden Square complex; Summit Son Tra View; Thuy Tu Urban, Green Hoa Binh DaNang Complex; the Monarchy; Garden Tower Apartments; P.A condotel tower arealready available for foreign buyers and investors.

The department also announced that threeprojects – F-Home apartment, Da Nang Diamond tower and Indochina Riversidetower – will not allow foreigners to buy and own houses.

It has yet to review the expansion of housingownership for foreigners at other projects not included in the list of 17.

Hotel and resort projects have been boomingin the city, offering 28,000 rooms for accommodation of 15 million tourists.

Soleil Da Nang is the biggest apartment andhotel complex project in the city with a 58-storey five-star hotel and three47-storey apartments, and will launch 1,000 luxury flats in 2020.

According to the ministry of construction,750 foreigners have been given housing ownership in Vietnam between 2014-2017.

Da Nang is the most mature coastal market,catering to a range of visitors, including traditional and MICE guests. Apartfrom its beautiful beaches, it is also an economic hub. Most ofits upscale accommodation is found along the white sandybeaches of Ngu Hanh Son district.

The city hosted 7.6 million tourists, ofwhich 2.87 million were foreigners, earning revenue of 24 trillion VND (over 1billion USD) in 2018.

Da Nang officially announced the highestprice for land at coastal property projects in Ngu Hanh Son, Son Tra and Hai Chaudistricts worth 98 million VND (4,300 USD) per square metre.-VNS/VNA
VNA

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