Tuesday, June 05, 2012

Foreign buying in Vietnam set to rise

Vietnam has always been an attractive destination for many property buyers and investors from around the world, especially from Japan, India and Thailand. In recent years, an increasing number of foreigners have also been looking to settle in the country.

According to data from the Registry and Land Statistics (Ministry of Natural Resources and Environment), as of April 10 there were 299 foreigners registered or had official home ownership in Vietnam. By far the most popular location is Ho Chi Minh City where 252 people have chosen to buy and own their houses. Next is Can Tho Province, where 12 units were transferred to new foreign owners.

In each of the cities and provinces such as Hanoi, Hai Phong, Binh Duong, Ba Ria – Vung Tau, Dong Thap, etc., there are between one and six houses owned either by Vietnamese residing overseas or by a ‘genuine foreigner’.

Data from the Registry and Land Statistics also mentioned that of the 299 individuals owning houses in Vietnam, the vast majority are Vietnamese residing overseas and who have foreign nationality. The number of foreign nationals who own houses in Vietnam is still a relatively modest number.
Staff at the Ministry noted that the number of Vietnamese residing overseas or foreigners wanting to buy houses in Vietnam is likely to be higher than the official numbers as some buyers are using names of their friends or relatives on the related ownership documents.

Vietnam enjoys status as an attractive investment destination, and also has many urban residential projects, as well as resort real estate opportunities in places such as Hai Phong City, Da Nang City and in Nha Trang Province.

Batdongsan.com.vn, Vietnam’s leading property portal and partner of PropertyGuru, said that the purchasing power of foreigners working and living in Vietnam is great, since the government relaxed regulations governing foreign property purchases in 2009. The number of foreigners buying property in Vietnam will increase over the coming years.

View the original article here

Source From Property Guru

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