HCMC – HCMC has approved 65 real estate projects where foreigners can own homes, up from 17 previously.
The move is expected to draw more overseas capital and create legitimate demand for the city’s housing market.
Under current rules, foreigners can buy up to 30% of apartments in a building or 250 landed houses per ward. Nguyen Khanh Duy, director of residential sales at Savills HCMC, said the cap would help attract international investment while keeping prices stable. He noted that this could provide a boost to market liquidity.
In the long term, industry insiders expect further growth as new housing regulations and streamlined administrative procedures come into effect. Foreign capital is gradually returning as the legal framework becomes more open.
The 2023 Housing Law allows foreign ownership of commercial housing for 50 years, with renewal possible. But the 2024 Land Law still does not classify foreigners as “land users,” posing a barrier.
Most overseas buyers, particularly from Singapore, Hong Kong, South Korea, Taiwan, and Vietnamese diaspora, look for mid- to high-end apartments of moderate size, developed by international brands, and located in central areas or near metro stations.
