The number of foreigners buying property in Viet Nam on the 2015-20 period increase sharply compared with 2008-14 period, especially in HCM City. — VNS Photo Foreigners have bought some 16,000 housing properties across the country since they were allowed to in 2015, according to the Ho Chi Minh City Real Estate Association (HoREA). Their number is increasing, especially of those buying in HCM City, with most buyers coming from mainland China, Japan, Singapore, and South Korea. Vingroup, Novaland, Phu My Hung, CBRE, and Hung Thinh sold around 10,571 of the units. HCM City has accounted for about 80 per cent of all their purchases. Many apartments in major projects in HCM City like the luxury Centennial Bason, The Grand Manhattan and Alpha City in District 1, where prices range between US$6,000 and US$10,000 per square metre, have been bought by foreigners. Developers need to work with foreign real estate agencies to look for foreign buyers and investors, experts said. Companies like Khang Dien, Novaland, Vingroup, and Him Lam Land work with TVC Communication Company (Singapore) to sell apartments they build to foreign buyers. Such co-operation is especially useful to sell in the high-end and luxury apartment segments, which attract… Read full this story
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