Key facts
- Foreigners would be barred from buying single houses in Vietnam.
- Foreigners would retain the right to own apartments.
- The proposed change aligns with a resolution to prevent land privatization.
- Homes owned by foreigners must be outside national defense and security zones.
Vietnam has proposed barring foreigners from purchasing single houses, restricting them to owning only apartments. This proposed revision to the Housing Law aims to align with Resolution 21-NQ/TW, which emphasizes that land is a strategic national resource and should not be privatized in any form, except for certain cases involving overseas Vietnamese.
The Ministry of Construction has finalized and supplemented regulations for home ownership by foreign organizations and individuals. Under the draft, foreigners would be allowed to own no more than 30 percent of the total number of apartments in a condominium building. Homes owned by foreign entities must be located in projects outside areas designated for national defense and security.