Newly-ratified law allows foreigners’ property ownership Business

Newly-ratified law allows foreigners’ property ownership

Foreigners now feel secure to buy houses in Vietnam, Savills Vietnam Co., Ltd said on November 26, the day after the National Assembly adopted the amended Law on Housing, which allows foreigners and Vietnamese people residing abroad to hire and own real estate in Vietnam.

Foreign real estate investors set to pounce

The State Bank of Vietnam's tightening of monetary policies will benefit powerful foreign real estate investors and hamper local firms, according to property market analysts.

SBV and Government efforts to curb inflation since February this year, have made it difficult for real estate developers to access credit, leading to a decline in property projects.

Real estate ranks third in FDI attraction

The real estate sector currently ranks third in attracting foreign direct investment (FDI) in Vietnam , according to the Ministry of Planning and Investment’s Foreign Investment Agency.

By the end of the third quarter this year, foreign investors had disbursed a total of 8 billion USD to real estate projects in Vietnam, the Foreign Investment Agency reported at an international seminar on experiences in developing housing and real estate worldwide, along with options for Vietnam.


Knight Frank opens office in HCM City

Knight Frank, the leading independent global property consultancy company, opened its office in Ho Chi Minh City on May 6 to enhance its presence within the Asia-Pacific region.

Domestic investment to drive realty market

Vietnamese investors will dominate the domestic real estate market for the immediate foreseeable future, experts said at a seminar on property trends held in HCM City on Sept. 29.

Marc Townsend, managing director of CBRE, a real estate service provider, said the prolonged global economic downturn has forced a lot of foreign investors to halt or reconsider their property projects in Vietnam.