Posted on 01-01-2018 20:22:39
In 2015, the Vietnamese government came out with a decree allowing foreign nationals to purchase apartments to be licensed under their name for a maximum of 50 years without having to hold Vietnamese citizenship. However, there is still law in place that prevents foreigners from owning any Vietnamese land.
As of 20 December 2017, the Ministry of Natural Resources and Environment is raising a resolution in order to expedite Article 5 of the Land Laws, hoping to push through a decree that allows foreigners to own land and houses in Vietnam, without having a Vietnamese citizenship. They are also looking to expedite Article 10 of the Urban Planning Laws that will allow more freedom to plan, build and alter properties on owned lands.
This must come as a blessing for foreigners looking to make Vietnam their permanent country of residence. And why not? Vietnam is beautiful. It has beautiful natural landscaping, sunny beaches, cheap fresh foods and fruits, nice warm weather and everything is cheaper in comparison to what expats experience at home.
This alteration of the Vietnamese Laws would be aligned to Malaysia’s recent promotion of its “ Malaysia My Second Home” program. This program allows foreigners to purchase houses in Malaysia with a 70% bank loan and 100% ownership. It also has benefits including: a 10 year pass to live and work in Malaysia, a multiple-entry visa, a Malaysian Identification Card and automatic student passes for dependants. From 2006, since its launch, till 2016 around 31,700 foreigners have applied for and enjoyed the benefits of the “Malaysia My Second Home” Program.
Perhaps one day, Vietnam will adopt this program and then we may have foreigners owning villas in Thao Dien to properties in Sala Sarimi and Empire City in the upcoming Thu Thiem New Urban Area to be completed around 2022.
In the meant time, if you wish to rent a villa in Thao Dien or apartments in Sala Sarimi or want more information on Empire City, please follow these links:
Villa for Rent in District 2
Apartments for Rent in Sala Sarimi, District 2
Information about Empire City
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Quarter 3, Hanoi Highway, An Phu ward, District 2, Ho Chi Minh City
$950 - 3,500/ month
THAO DIEN PEARL
No 12, Quoc Huong Street, Thao Dien Ward, District 2, Ho Chi Minh City
$800 - 2,500/ month
628 Ha Noi Highway, An Phu, District 2, Ho Chi Minh City
$900 - 4,600/ month
XI RIVERVIEW PALACE
No 190, Nguyen Van Huong Street, Thao Dien Ward, District 2, Ho Chi Minh City
$1,800 - 3,500/ month
No 170, Nguyen Van Huong street, Thao Dien Ward, District 2, Ho Chi Minh City
$1,000 - 2,300/ month
Villa for rent in District 2, HCMC - D220075
Thao Dien Ward, District 2, Ho Chi Minh City, Vietnam
Apartment for rent - Icon 56 - D401331
No 56, Ben Van Don Street, Ward 12, District 4, Ho Chi Minh City
APARTMENT FOR RENT - VISTA VERDE - D221069
Dong Van Cong Street, Thanh My Loi Ward, District 2, HCMC
Quiet The Manor apartment in Binh Thanh District - BT104020
No 91, Nguyen Huu Canh Street, Ward 22, Binh Thanh District, Ho Chi Minh City
Serviced apartment for rent in district 3 D399102
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