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Jun 08, 2020 / 10:11

Hanoi announces 22 more housing projects allowing foreign ownership

Foreigners can buy houses from developers of residential projects on the primary market.

Hanoi’s Department of Construction has made public a list of 22 more housing projects that allow foreign individuals and organizations to own homes, the Kinh te & Do thi reported.

 So far, Hanoi annouces 32 projects for foreign ownership

In the latest list, Ha Dong district remains top localities for the number of projects with four, namely Terra An Hung high-end apartment and commercial complex and HH mix-used project in La Khe ward invested by Van Phu Invest JSC; Military Petrochemical JSC (MIPEC)’s Kien Hung residential area; and CapitaLand Hoang Thanh apartment and mix-used complex in Mo Lao ward.

Long Bien district has three projects, including the Sai Dong New Urban Area by Hanoi Housing Development and Investment Corp (Handico), a housing and commercial complex in Bo De ward by Bac Chuong Duong Co., Ltd, and Plaschem apartment, commercial and office complex.

Thanh Xuan district is home to two projects namely Stellar Garden apartment complex by Quang Minh Business and Construction and Nguyen Tuan DLC complex project.

Hoang Mai district has two sections in Rose Tower complex project invested Xuan Mai Investment and Construction Corp and Production for Packing and Exporting Goods JSC (Promexco).

Hoai Duc district has two projects in Nam An Khanh urban area while Son Tay town has two attached house projects.

Other projects are in the districts of Nam Tu Liem, Cau Giay, Ba Dinh, Bac Tu Liem, and Gia Lam.

In total, Ha Dong takes the lead with 9 projects, followed by Nam Tu Liem, Thanh Xuan, and Long Bien.

Earlier in mid-May, the department announced a list of 10 projects for the foreign ownership.

Under Vietnam’s revised Law on Housing that took effect from July 2015, all foreigners who are granted a visa to the country and not entitled to privileges and diplomatic immunity are eligible to buy not only apartments but also landed property (villas and townhouses), and requirements for their home ownership rights have been significantly relaxed.

The tenure is 50-year leasehold with renewal possibility. Foreign individuals married to Vietnamese citizens are entitled to freehold tenure.