Doan Van Binh, Chairman of CEO Group and Vice President of the Vietnam National Real Estate Association, introduced his latest book, “Vietnam Real Estate for Foreigners,” at a launch event in Hanoi on Friday.
Foreigners who contract coronavirus will have to pay for treatment but will still have testing fee waived.
Quang Ninh, Hai Phong, Quang Nam and other provinces has announced temporary closure of tourist destinations after Vietnam confirmed more Covid-19 infected patients, of whom most are foreigners.
Foreign businesspeople and experts working in Binh Duong are favouring foreign-invested real estate projects for their property purchase in Vietnam.
Allowing foreigners to own resort properties will be a catalyst for the real estate market in Vietnam.
Up to now, Vietnam has a total of seven licensed and operational casinos for foreigners and three major casinos are under construction, including Van Don (Quang Ninh), Phu Quoc and Nam Hoi.
According to the draft Law on Special Economic Administrative Units, the regulation which may allow foreigners to own houses for maximum 99 years can increase the price of real estate and also pose hidden other negative impacts.
Several real estate enterprises have been expecting to sell houses to foreigners since the amended 2014 Housing Law came into effect; however, so far, this expectation remains beyond a reach because of unresolved restrictions.
Thousands of successful real estate deals have been closed relevant to foreigners but up to date a modest number granted home-ownership certificates may hinder foreigners' eagerness.
Prime Minister (PM) Nguyen Xuan Phuc demanded that the revision of the draft law on Special Administrative-Economic Units should aim at increasing the term of land allocation, land lease and land use and allowing foreigners to own apartments for a maximum term of 99 years.
According to the draft circular of the State Bank of Vietnam (SBV), non-resident foreigners can deposit savings in both local and foreign currency at commercial banks, a positive move not only to limit speculation in the market but also guarantee legal reights for non-residents presenting in Vietnam.
