02:42 (GMT +7) - Sunday 28/05/2017

Property

Still tough for foreigners to secure house ownership certificates

Released at: 16:03, 09/05/2017

Still tough for foreigners to secure house ownership certificates

Illustrative image (Source: luatvietan.vn)

Granting of certificates of ownership of houses to foreigners who signed purchase contracts after December 10, 2015, suspended in HCMC.

by Nguyen Vu

It remains no easy task for foreigners to obtain a housing ownership certificate in Vietnam despite the government permitting them to purchase homes.

Tuoi Tre (Youth) online recently reported that the Ho Chi Minh City Land Registration Office has suspended the granting of certificates of land use rights and ownership of houses and other land-attached assets to foreigners who signed housing purchase contracts after December 10, 2015 (the effective date of Government Decree No.99/2015/ND-CP guiding the Law on Housing).

The suspension was due to the unavailability of lists of residential housing projects allowed to be owned by foreigners, which are supposed to be issued by city or provincial-level Departments of Construction, leaving no legal basis for the office to transfer ownership rights to foreigners.

Under Decree No.99, foreigners are not permitted to own houses in national defense and security areas in localities specified by the Ministry of Public Security and the Ministry of National Defense. Neither, however, have announced such areas.

As a result, city and provincial-level Departments of Construction have no grounds to publicize lists of local housing projects in areas eligible for ownership by foreigners.

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