Ho Chi Minh City adds 10 housing projects eligible for foreign buyers

The municipal People’s Committee announced the additional projects on Thursday, marking the 13th time the city has published a list of housing developments approved for sale to foreign buyers, Tien Phong (Vanguard) newspaper reported.

The 10 newly added projects are:

- The C1 and C2 high-rise apartment buildings in the Hung Phu Residential Area in Tam Binh Ward, developed by Hung Phu Invest JSC.

- The Hoang Ha My Residential Area in An Phu Ward, developed by Hoang Ha My Real Estate Co. Ltd.

- The residential, commercial, service and office complex in An Khanh Ward, developed by G Homes House Development JSC.

- The Emerald 68 apartment complex in Binh Hoa Ward, developed by Le Phong Group JSC.

- The Emerald River Park apartment complex in Lai Thieu Ward, developed by Minh Phuc Real Estate Investment and Development Co. Ltd.

- The Thanh Loc apartment, commercial and hotel complex in Thuan An Ward, developed by Thanh Loc Real Estate Investment Co. Ltd.

- The Loc Phu Gia Residential Area in Phuoc Hoa Commune, developed by Levacom Real Estate JSC.

- The high-rise apartment building on Lot A of the Tan Phu Residential Area in Tan My Ward, developed by Bao Gia JSC.

- Phase 1 of the Dong Duong apartment and commercial-service complex in Dien Hong Ward, developed by Kingdom Dong Duong JSC.

- Phases 1, 2 and 3B of the Saigon Pearl riverside mixed-use residential complex in Thanh My Tay Ward, developed by Vietnam Land SSG Co. Ltd.

The expansion comes as Ho Chi Minh City pursues its ambitions to become an international financial center, develop free-trade zones and promote its semiconductor industry.

Demand for housing from foreign experts and engineers is expected to rise as these sectors grow.

Adding more eligible housing projects is intended to meet that demand and help the city attract investment, according to local media.

Under Vietnam’s 2023 Housing Law and Decree 95/2024, foreign organizations and individuals may buy, lease-purchase, receive as gifts or inherit homes in eligible projects.

To own homes in Vietnam, foreign individuals must be permitted to enter the country, while foreign organizations must meet the applicable requirements for operating or investing in the country. Homes must be located in projects outside areas subject to national defense and security restrictions.

Foreign ownership is capped at 30 percent of the total number of apartments in each condominium building. For individual houses, including villas and townhouses, the limit is 250 houses in an area with a population equivalent to that of a ward.

Foreign organizations and individuals have so far obtained ownership certificates for around 6,188 homes in Vietnam. Of these, 1,519 were apartments acquired since August 1, 2024, when the 2023 Housing Law took effect, according to a report by the Ministry of Construction.

Meanwhile, the latest draft of the amended Housing Law proposes changes to foreign homeownership rules.

The draft would retain the cap allowing foreign organizations and individuals to own no more than 30 percent of the apartments in a condominium building.

However, it proposes removing provisions that currently allow foreign organizations and individuals to own individual houses, including villas and townhouses, in housing projects.