HCMC adds two more housing projects eligible for ownership by foreigners

Ho Chi Minh City has approved two additional residential developments for sale to foreign organizations and individuals, expanding the list of projects open to these groups.

The newly approved projects include the Phu Hung apartment complex in Chanh Hiep ward, developed by Ryby Investment Business Co. Ltd., and the New Tech mixed-use residential and commercial complex in Phu Thuan ward, developed by New Tech Construction Investment JSC, according to the city government's announcement.

Since the beginning of 2025, HCMC has issued seven rounds of approvals for projects eligible for foreign ownership, bringing the total number of qualified residential developments to 133.

The approvals come under provisions of Vietnam’s 2023 Housing Law and Decree 95/2024, which allow foreign organizations and individuals to own homes in Vietnam provided that they meet legal requirements and the projects are not located in areas designated for national defense or security purposes.

Under current regulations, foreign organizations investing directly in projects must hold valid investment registration certificates, while non-investing foreign entities must possess valid operating licenses recognized in Vietnam.

Foreign ownership is capped at 30% of apartments within a condominium building and no more than 250 landed housing units in areas with populations of 10,000 residents.

Vietnam has increasingly positioned foreign homeownership policies as a way to attract international capital and support the real estate market, particularly in major urban centers.

The latest approvals also reflect continued demand from foreign investors and expatriates seeking access to Vietnam’s residential property market, especially in projects linked to expanding urban infrastructure and mixed-use developments.