Vietnam to allow foreigners to buy flats
HANOI - Some 10,000 foreigners in Vietnam will be, under a pilot scheme worked out by the Vietnamese government, eligible for purchasing flats in the country in the near future, local newspaper New Hanoi reported Wednesday.
Under the scheme slated for being approved by the National Assembly of Vietnam, the country's top legislature, some 10,000 foreigners living and working in Hanoi and southern Ho Chi Minh City will be permitted to buy flats, not villas.
If the pilot scheme proves successful, foreigners in all other Vietnamese localities will be allowed to buy flats. The country's Construction Ministry said foreigners' purchase of villas will be complex because it is much related to land-ownership issues.
According to the ministry, foreigners' demand for flats and villas is very high. Now, 84,000 foreigners are living and working in Vietnam, of whom 1,600 work for diplomatic corps, 24,000 are businesspeople, and the remainders work in other fields.
Xinhua - February 13, 2008.