Better infrastructure and revitalized urban areas are tipped to drive growth in housing demand in Vietnam’s major cities, especially where public transport offers convenience.
According to current regulations, foreign organizations and individuals are allowed to own up to 30 percent of the apartments in a condominium building. For individual houses, foreigners can own no more than 250 units in an area with a population equivalent to a ward.
A number of amendments are contained within the draft revised Law on Housing, including rules on homeownership by foreign organizations and individuals.
They are former Prime Minister Nguyen Xuan Phuc, former Head of the Central Commission for Mass Mobilization Truong Thi Mai, and former Standing Deputy Prime Minister Truong Hoa Binh.
Under a new decree from the Government, foreigners who wish to bring foreign vehicles to Vietnam for general use shall have to obtain approval from relevant authority.