Foreigners buying houses are mainly condominiums, while individual houses are not in demand. Because so far, the Land Law 2013 is inconsistent with the Housing Law on selling houses to foreigners.

1. Overview

Foreign investment in the real estate sector has continuously increased and made an important contribution to the development of the market. Accumulated up to now, FDI in real estate has reached 66.4 billion USD, accounting for 15.1% of total FDI into Vietnam. Real estate is the second sector to attract FDI, only after the manufacturing and processing industry. However, in the last few years, the real estate market has faced many difficulties, challenges and problems that need to be solved.

2. Accompanying businesses and investors to promote sustainable development of the real estate market

Within the scope of its authority and responsibility, the Ministry of Construction has presided over the drafting of the Draft Law on Housing (amended) and the Law on Real Estate Business (amended). The amendment and completion of these two Laws will have a positive impact on the housing and real estate market, drastically improving confidence in the investment environment, creating transparency and stability for the housing market. housing and real estate in Vietnam.

3. Solutions to attract FDI into the real estate sector

Firstly, continue to review and complete legal regulations on the real estate market, especially new types of real estate in line with international practices.
Second, actively attract investment selectively, targeting investors with good financial capacity, with solutions associated with the model of green and sustainable economic transformation; at the same time, uphold the responsibility of investors towards the environment and society during the investment process in Vietnam.
Third, urgently and flexibly and synchronously operate monetary policy tools to meet the demand for credit capital for development of the real estate market.

4. Conclusion

In conclusion, removing regulations on apartment ownership periods in Vietnam has the potential to attract foreign investors to the real estate sector. By easing restrictions, allowing for longer ownership periods, and implementing other favorable policies, the Vietnamese government can create a more attractive investment environment thereby encouraging foreign individuals and entities to invest in residential properties. 
For the full detail of this post, please reference on this link: http://hmlf.vn/remove-regulations-on-apartment-ownership-period-to-attract-foreign-investors/

Harley Miller Law Firm “HMLF”
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