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Update news housing policies
Hanoi’s authorities have granted approval for more than 1,200 apartments in two prominent residential projects, Lumi Hanoi and Heritage West Lake, to be sold to foreign buyers.
Hanoi has announced five residential projects that allow foreign ownership, with prices between 60 and 100 million VND ($2,500 - $4,200) per square meter.
Foreigners are entitled to own houses for a limited time but cannot own land; when the ownership period expires, they can extend once and be allowed to buy and sell houses like domestic citizens.
HCM City is home to thousands of migrant labourers working in industrial parks (IPs) and export processing zones (EPZs), but its housing projects meet only a fraction of the demand for stable accommodations.