Foreigners Allowed to Own Property in Ho Chi Minh City: A Comprehensive List of Eligible Projects
The People’s Committee of Ho Chi Minh City has released a list of 48 real estate projects in which foreign organizations and individuals are permitted to own property. This is a significant development, offering a wide range of investment opportunities for overseas investors.
Phú Mỹ Hưng Development Corporation dominates the list with an impressive 39 projects, all located in Area A of the new urban area in South Saigon, specifically in Tân Hưng and Tân Mỹ wards. Notable projects include The Panorama, Park View Apartments, Riverpark Residences, Sky Garden, Scenic Valley, and Happy Valley, among others.
Additionally, three projects in the Midtown complex (lot M5 – M7) in Area A are also open to foreign ownership, developed by Phú Hưng Thái JSC, a joint venture between Phú Mỹ Hưng and three Japanese partners.
In the eastern part of the city, The Privé, a high-rise apartment complex developed by Đất Xanh Group in Bình Trưng ward, is also on the list. Cat Lai ward boasts another three eligible projects: Vista Verde (lot Y2), the Y1 commercial apartment area, and Define (lot Z2) by Capitaland – Thiên Đức JSC. Furthermore, a project in Bình Trưng Đông ward by CVH Mùa Xuân JSC is also open to foreign buyers.
Previously, the Ho Chi Minh City People’s Committee had announced 17 construction projects in which foreign organizations and individuals were allowed to own property. This new announcement adds to the growing list of opportunities for foreign investment in the city’s real estate market.
Midtown, a project by Phú Mỹ Hưng, is among the properties that can be sold to foreigners.
The eligible projects for foreign ownership include high-rise residential areas in Hiệp Bình Phước ward (now Hiệp Bình) by Ladona Real Estate JSC, and the Complex Urban Area on the Island – Phase 1 by Binh Thien An Real Estate JSC.
Additionally, lots B1, B2, B3, and B4 in the high-rise residential area of old Tân Phú ward, District 7, by Dynamic Innovation JSC and Phát Đạt JSC, along with City Garden Apartments by City Garden JSC, and Dragon Village by Dragon Village Real Estate JSC, are all open to foreign buyers.
The list continues with Subdivision 15A2 and Subdivision 15B of the Phu Long Complex High-rise Area, the Tan Thang Sports and Residential Complex by Gamuda Land JSC, Thao Dien Green Apartments by SIC Real Estate Investment JSC, and Pi City High Park by Sole Member Company Gia Cư JSC.
Furthermore, the Mizuki Park project, including CC1 and CC2 apartments, by Mizuki NNH JSC, is also eligible for foreign ownership, in accordance with the 2023 Housing Law and Decree 95/2024.
To be clear, foreign organizations and individuals can own property in Vietnam if they meet the legal requirements and fall under the specified categories. For domestic organizations, this includes possessing a business registration certificate, investment registration certificate, or similar documents issued by authorized agencies.
Foreign organizations investing in construction projects in Vietnam must have an investment registration certificate as per the law on investment. Foreign organizations that do not fall under the specified categories must have an investment certificate, investment registration certificate, or similar documents permitting their operation or establishment in Vietnam, valid at the time of the housing transaction.
It’s important to note that foreign individuals are only permitted to purchase commercial housing in projects that do not impact national defense and security. The ownership ratio is limited to 30% of the apartments in a condominium or 250 separate houses in a ward.
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