The Ministry of Construction has just sent an official dispatch to the General Department of Land Management (Ministry of Natural Resources and Environment) guiding the number of apartment buildings that foreign organizations and individuals can own in housing investment projects.
According to the Ministry of Construction, Article 161 of the Law on Housing 2014 and Decree No. 99 of the Government detail and guide the implementation of a number of articles of the Law on Housing on foreign organizations and individuals permitted to own.
Specifically, foreigners are not allowed to own more than 30% of the apartments in each apartment building, and not more than 30% of the total number of apartments in all apartment buildings in an area. In case the individual houses in the project are owned, not exceeding 10% of the number of houses in the project and not exceeding 250 units of the total number of separate houses in the projects in an area with a population equivalent to a ward-level administrative unit.
Foreigners are not allowed to own more than 30% of the apartments in each apartment building.
“The law on housing does not stipulate the number of houses that each individual or organization can own. Therefore, it is recommended that the General Department of Land Management base on the provisions of the law on housing to implement”, the Ministry of Construction commented.
Recently, the Hanoi Department of Construction has just announced a list of housing projects in the city that allow foreign organizations and individuals to own.
Specifically, in Bac Tu Liem district, there is a high-rise housing project in the Diplomatic Corps and low-rise housing project in Tay Tuu urban functional area. Long Bien district has high-rise apartment buildings in lots HH4 and HH5 and project to build high-rise housing for sale in Phuc Dong ward.
Tay Ho district has a high-rise housing project combining commercial services and low-rise housing, a high-rise apartment complex combining commercial services and low-rise housing in Nam Thang Long urban area. Hoang Mai district has 1 project; Nam Tu Liem district has 1 project.
Previously, in the period 2018 – 2019, Hanoi had 50 housing projects that were allowed to be sold to foreigners. In the period of 2020 – 2021, there are 17 housing projects that foreign organizations and individuals are allowed to own in Hanoi city.
@ Cafef