Number of houses eligible for ownership by foreign organizations, individuals in Vietnam

Number of houses eligible for ownership by foreign organizations, individuals in Vietnam (Image from the Internet)

Number of houses eligible for ownership by foreign organizations, individuals in Vietnam

(1) The population equivalent to a ward, regardless of administrative unit level, is determined as the basis for calculating the number of individual houses that foreign organizations and individuals are allowed to own as stipulated in Article 19 of the Housing Law 2023 is 10,000 people according to the plan approved by the competent authority. The provincial planning management authority is responsible for announcing the population equivalent to a ward as specified in this section on their electronic information portal upon approval of the plan.

(2) According to Clause 2, Article 5 of Decree 95/2024/ND-CP, the number of houses in housing investment projects that foreign organizations and individuals are allowed to own is determined as follows:

- For an apartment building (including mixed-use apartment buildings), foreign organizations and individuals are allowed to own up to 30% of the total number of residential apartments in that building. If the apartment building has multiple blocks or sections sharing a common podium, foreign organizations and individuals are only allowed to own up to 30% of the total number of residential apartments in each block or section;

- For individual houses in an area with a population as specified in section (1), if there is only one housing investment project, foreign organizations and individuals are only allowed to own no more than 250 houses.

In the case that the area specified in this point has 2 or more housing investment projects, foreign organizations and individuals are allowed to own in all projects but no more than 250 houses; if in an area with a population specified in section (1), there are multiple housing investment projects, and foreign organizations and individuals have already owned the maximum number of individual houses as regulated, they are not allowed to own additional individual houses in other projects within that area.

Foreign organizations, individuals allowed to own houses and form of house ownership in Vietnam

According to Article 17 of Housing Law 2023, foreign organizations, individuals allowed to own houses and form of house ownership in Vietnam include:

- Foreign-invested economic organizations investing in housing construction projects in Vietnam as per the regulations of Housing Law 2023 and other related legal provisions: allowed to own houses through the implementation of housing construction investment projects in Vietnam.

- Foreign-invested economic organizations, branches, representative offices of foreign enterprises, foreign investment funds, and branches of foreign banks operating in Vietnam; foreign individuals permitted to enter Vietnam are allowed to own houses through:

+ Purchasing, leasing-buying commercial houses from the investors of housing construction investment projects, receiving gifts, and inheriting commercial houses in housing construction investment projects that are not in areas requiring national defense and security assurance as stipulated in Article 16 of Housing Law 2023;

+ Purchasing, leasing-buying houses from foreign organizations, and individuals who have already owned houses.

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