Vietnamese National Assembly has issued an updated law on housing law, which comes into force on 1 July 2015 and allows foreigners to buy real estate - on the condition of ownership on loan for a period of 50 years with possibility of extension. The number of possible to purchase the apartment in apartment buildings - individual consumers and companies - should not exceed 30% of the apartments in the house. The total number of homes purchased by foreigners in each administrative district, should be less than 250. This was reported by media group an OPP (the Overseas Professional, the Property) .
Representation of a major real estate company CBRE Vietnam draws attention to the fact that all foreign nationals who have received a Vietnamese visa, will be able to buy property here, including condominiums, villas and townhouses. These objects can be put into a sublease, sold, transferred by inheritance, and put on bail, whereas before owners could only use their holdings for its intended purpose. Up to this point only foreigners who are married to citizens of Vietnam, may acquire real estate in the property.
"With the launch of the Economic Association of South-East Aziii (ASEAN) last year, there was hope that the Vietnamese law is waiting for further changes to the section on foreign ownership of real estate in the country," - said Andrew Batt, editor of the international media group PropertyGuru Group is .
Despite the fact that the new law requires the request increase in property, some time innovations may not be visible in the market. "We do not expect a rapid rise in sales, because Vietnam is still the most attractive destination for foreign buyers of homes," - said Le Hoang Chau, chairman of Ho Chi Minh City Real Estate Association (HoREA).
Don Lam, CEO Vinacapital, one of the leading asset management companies in Vietnam, predicts that foreign investors want to buy real estate on the coast of Central Vietnam as a "second home".
CBRE Vietnam said that "the easing of restrictions on foreign ownership of property is a very big step towards the opening of the Vietnamese market for investors from abroad. For foreigners, there are only two significant limitations: possession on loan for 50 years and a limit on the total number of objects in the possession of foreigners in the same apartment building, or administrative district. Restrictions on the size or number of objects in the property, as well as additional taxes will not. "
HomesOverseas.ru
