Many overseas Vietnamese want to buy apartments, property
By Quoc Hung - The Saigon Times Daily
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| Viet Kieu view modern housing of the Sunrise City project in HCMC - Photo: Quoc Hung |
HCMC - Some 400 Vietnamese living abroad, or Viet Kieu, gathered at the Sunrise City complex project in HCMC’s District 7 last week for a meeting, with many of them showing keen interest to buy houses or invest in the property sector in Vietnam.
At the meeting, which was held by the Overseas Vietnamese Communication Association and Novaland, developer the project, 98 Viet Kieu said they wanted to buy hi-end apartments and invest in the property sector.
Do Thi Loan, general secretary of the HCMC Real Estate Association, explained that huge investment into the city’s traffic and infrastructure was driving up the development of the property market. This is also a good opportunity for Viet Kieu to buy a house as a good investment because property prices continue to increase.
Lawyer Truong Thi Hoa attended the event, offering legal information about the policy allowing Viet Kieu to purchase houses in Vietnam.
She said the legal corridor allowed most Viet Kieu to own housing with the right to give as a present, lease, resell or mortgage their properties.
However, Viet Kieu who want to buy houses in Vietnam are worried about legal procedures. “Therefore, Viet Kieu should chose good projects, which will supply housing ownership certificates, and should look for project developers who abide by legal procedures,” Hoa noted.
City vice chairman Nguyen Thanh Tai told the meeting the Government had advanced new policies like the citizenship law, the exemption of entry visas and especially the land, housing, estate, property law to help Viet Kieu buy and own houses in Vietnam easily.
However, relevant agencies are waiting for clear instructions from the Construction Ministry to make it easier for Viet Kieu to buy houses in Vietnam.
To help Viet Kieu with legal information on property and house ownership in Vietnam, Novaland has cooperated with law offices to establish a service division to supply free information at +1 (714) 793 8186 in the U.S., +61 (2) 8005 6725 in Australia and +44 (20) 3239 9091 in the UK and in Europe.