Ho Chi Minh City Approves 24 New Residential Projects for Foreign Buyers
Ho Chi Minh City has approved 24 new residential real estate projects for foreign buyers, increasing eligible projects to 93. Most approvals are in the Phú Mỹ Hưng urban area, developed by Phú Mỹ Hưng Development Co Ltd. The revised housing regulations allow foreign ownership in eligible commercial projects, with restrictions in defense or security areas, aiming to stabilize the Vietnamese real estate market.
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Ho Chi Minh City authorities have approved 24 new residential real estate projects for foreign buyers, increasing the total number of eligible projects to 93. Of these, 19 projects are in the Phú Mỹ Hưng urban area, developed by Phú Mỹ Hưng Development Co Ltd.
The approvals are in line with the 2023 Construction Law and Decree 95, which permit foreign individuals and organizations to own properties in certain commercial projects, while imposing restrictions in defense or security areas. These measures are intended to stabilize the Vietnamese real estate market and enhance transparency for foreign investors.
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