In the revised version, Vietnamese people residing abroad who are Vietnamese citizens, and those of the Vietnamese origin residing abroad, are eligible to own land use rights at home.
According to the Vietnam Association of Realtors, the new legal corridor will provide a more favorable conditions for OVs to own houses in Vietnam, thus driving remittances into the real property markets.
Experts held that, new regulations included in the Land Law 2024, which allow OVs to own land use rights in Vietnam, are suitable to international trends and have positive impacts.
The amount of remittances to Vietnam, estimated at billions of dollars each year and on the rise, will be a support for the real estate market in the coming time, especially amid the sector’s current thirst of capital, the experts noted./.
