The authorities of Ho Chi Minh City have officially approved an additional list of 24 residential projects in which foreign citizens and companies have the legal right to own real estate. This decision supplements the list of 93 properties published earlier. Thus, the total number of residential projects in the city where foreigners are allowed to buy housing has increased to 117.
The new list was prepared by the city's construction department in accordance with the current regulations governing the participation of foreign buyers in the Vietnamese real estate market.
Most of the new projects are located in the south of the city (District 7). 19 out of 24 properties on the list are implemented by Phu My Hung Development Corporation, which has been developing this territory for over twenty years.
The remaining projects are located in the eastern part of the city, including the rapidly developing district of Thu Duc and neighboring Di An. Over the past few years, this part of the city has become one of the most actively developing: new residential areas, technology parks, business centers, and infrastructure are being built here. The authorities consider Thu Duc as the future center of technological and business development of Ho Chi Minh City.
According to current Vietnamese law, foreign citizens can own no more than 30% of the apartments in one condominium. For private houses, a limit of up to 250 properties within one city block is set.
The expansion of the project list is part of the city's strategy to attract foreign specialists and investments. Against the backdrop of economic growth and the development of technological and financial centers, the demand for housing from foreigners in Vietnam continues to increase.