Foreigners receive consultation on buying a house in Vietnam.-Photo baoxaydung.com.vn “To promote foreigners’ trading of real estate products on the local market, Vietnam should increase the portion of property products available for foreigners in each project,” Nguyen Hoai An, director of CBRE Vietnam’s Hanoi, branch told Vietnam News. “It is necessary to complete legal documents, circulars, procedures and support for foreigners in buying property products in Vietnam,” she said. “The nation needs to complete the process of issuing pink books and certificates of ownership for property belonging to foreigners.” “Meanwhile, banks need to increase support for foreigners in property transactions,” she said. Existing projects that want to attract more foreign customers should develop professional customer care processes for foreigners, she said. Foreign buyers have often faced barriers to buying real estate in Vietnam, including the limitation of the law on the foreign ownership portion of each property project, An said. “For apartment projects, foreigners can only own up to 30 per cent of the apartment volume, while for townhouse projects the portion is not to exceed 10 per cent or 250 units,” An said. According to Nguyen Manh Ha, former head of the construction ministry’s Housing and Market Management Department… Read full this story
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