VietNamNet Bridge - Prime Minister Nguyen Tan Dung asked relevant bodies to compile the revised Housing Law in the direction of making it more convenient for foreigners and overseas Vietnamese to buy houses in Vietnam.

PM Nguyen Tan Dung.

Reporting to the Government on December 25 on the amended Housing Law, Minister of Construction Trinh Dinh Dung said that it is called revised law but the law is almost changed with over 80 articles and three chapters.

One of the most important content of the revised Housing Law is extending the subjects and conditions for overseas Vietnamese, as well as foreign organizations and foreigners to buy and own houses in Vietnam.

In the view of the drafting body, this is to mobilize the resources of capital, technology and experience of these subjects to serve the development of the country and at the same time to contribute to the development of the construction market.

Sharing this view, Minister of Planning and Investment – Mr. Bui Quang Vinh said that he used to ask the Ministry of Construction to advise the government to sell houses to foreigners in order to remove real estate inventory, which are mainly luxurious apartments and villas.

Vinh said that currently 130,000 Koreans are living in Vietnam and they have to rent houses of Vietnamese because they are not allowed to buy houses in the country. Many landlords evade from house leasing to foreigners. Vinh affirmed that allowing foreigners to buy houses would be a solution for removing difficulties for the real estate market in 2014.

Prime Minister Nguyen Tan Dung agreed with Minister Vinh and he asked the revised Housing Law compilation committee to open up this regulation, except the subjects to security checks.

Tran Cham