Vietnam relaxes foreign property ownership rule
It expands criteria for foreigners to buy homes with the aim to create favourable conditions to draw foreign investment
Ho Chi Minh City
VIETNAM'S Parliament approved a law allowing broad foreign ownership of property, as the government seeks to boost an ailing real-estate market and accelerate economic growth. Foreigners with a valid visa as well as foreign companies and international organisations operating in Vietnam will now be permitted to purchase houses and apartments, according to the National Assembly's website on Tuesday.
Current laws restrict ownership to foreigners married to Vietnamese and those foreigners deemed to make significant contributions to the nation's development.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2