The Ministry of Construction (MoC) has recently finalized a draft scheme on housing policies applicable to foreigners in Vietnam.
The scheme opens up the opportunity to own a house in Vietnam to foreigners who have direct investment activities in Vietnam; who are awarded medals, badges, diplomas of merits or commemorative medals by Vietnamese agencies for their contributions to Vietnam; who are cultural activists, scientists, socio-economic specialists and skilled workers currently working in Vietnam; and who get married to Vietnamese citizens and are residing in Vietnam.
To buy a house in Vietnam, these foreigners must obtain permission for residing in the country for one year or more. The to-be-purchased house must not be located in areas subject to residence or travel restrictions on foreigners.
Under the draft scheme, foreigners may also bequeath, sell or donate their houses to others eligible for owning a house in Vietnam or mortgage their houses for bank loans.
The draft also allows foreign economic organizations operating in Vietnam to buy dwelling houses for sub-lease to their foreign staff. However, they may not re-sell or donate the purchased houses.