The Housing Law of 2023, approved by the National Assembly on November 27th, 2023, will take effect on August 1st, 2024.
Accordingly, housing ownership regulations in Vietnam for foreign organizations and individuals have some notable points as follows:
Conditions for housing ownership for foreign organizations:
+ Foreign-invested economic organizations investing in housing construction projects in Vietnam according to the provisions of the Housing Law of 2023 and other related laws.
+ Foreign-invested economic organizations, branches, representative offices of foreign enterprises, foreign investment funds, and branches of foreign banks operating in Vietnam.
Conditions for housing ownership for foreign individuals:
+ Foreign individuals are allowed to enter Vietnam.
Foreign organizations and individuals are permitted to own housing in Vietnam, including apartments and individual houses, through the following forms:
+ Foreign-invested organizations investing in housing construction projects in Vietnam can own housing by implementing housing construction investment projects in Vietnam;
+ Foreign organizations and individuals can own housing through purchasing, and lease-purchase commercial housing from investors of housing construction investment projects, receiving housing as a gift, or inheriting commercial housing within housing investment projects that are not located in areas that need to ensure national defense and security according to the provisions the Housing Law.
+ Foreign organizations and individuals can own housing through purchasing, and lease-purchase housing from foreign organizations and individuals who already own housing according to the above regulations.
Foreign organizations and individuals are only allowed to purchase, lease-purchase, receive as gifts, receive inheritance, and own no more than 30% of the total apartments in one apartment building. For individual houses, including villas and adjacent houses, they can only purchase, lease-purchase, receive as gifts, receive inheritance, and own no more than 250 houses in an area with a population size equivalent to a ward.
In an area with a population size equivalent to a ward with multiple apartment buildings or individual houses along a street, foreign individuals can only purchase, lease-purchase, receive as gifts, receive inheritance, and own no more than the number of apartments or individual houses specified above.
