The Ministry of Construction (MOC) has asked to amend the 2014 Housing Law and Real Estate Business Law, allowing foreign institutions and individuals to buy tourism properties in Vietnam.

 The Khanh Hoa Province Department of Construction has warned over the illegal sale of tourism properties to foreigners, asking project developers to comply with the established laws.

Vietnam’s tourism real estate market has the potential for strong development, but utilities and services are needed to attract investors, heard a recent seminar organised by the Vietnam Real Estate Association (VNREA).

While the other investors get bogged down in the frozen real estate market, the ones who poured money into high-end coastal resorts now can pocket big money they earn from the right investment deals.