Nghe An: 112 real estate projects allow foreigners to own

Specifically, according to statistics from the Department of Housing and Real Estate Management (Nghe An Department of Construction), housing construction investment projects located in areas allowing foreigners to own houses in the province are mainly concentrated in Vinh City with 98 projects.

For example, projects such as: Housing area for low-income people (Trung Do Joint Stock Company); New urban area West of Xo Viet Nghe Tinh Avenue, Hamlet 19, Nghi Phu Commune (Vinaconex 9); C1 Quang Trung commercial service area (Tecco Corporation, Nghe An branch); Project of mixed-use service housing and social housing in Hung Loc Commune, Vinh City (Tecco Central Company); Project of Complex of Commercial Center, High-rise Hotel, Office for rent, CCCT and townhouses (Vinaconex 20); Eurowindow Nghe An Tower (Vinh Trade Center Investment Joint Stock Company); Project of mixed-use area of ​​Commercial Center, Service, Office, Housing and Luxury Apartments (T&T Group Joint Stock Company)...

The remaining projects are in Hoang Mai town, Quynh Luu, Dien Chau, Nghi Loc, Anh Son Con Cuong and Nam Dan districts.

Nghe An has 112 real estate projects that allow foreigners to own. (Photo: luxury apartment project in Hung Binh ward, Vinh city).

According to Mr. Phan The Phiet - Deputy Head of Housing Management and Real Estate Market, Nghe An Department of Construction, up to now, after announcing housing construction projects located in areas allowing foreigners to own, only 1 individual with Korean nationality has completed procedures to be granted the right to use a house in Vinh City.

After Circular 19/2016/TT-BXD of the Ministry of Construction guiding the implementation of the Housing Law and Decree 99/2015/ND-CP of the Government were issued, clearly regulating the ownership of houses in Vietnam by foreign organizations and individuals. Nghe An Department of Construction and related departments and agencies have received procedures for investors applying to register housing construction investment projects in the area that allow foreign ownership.

At real estate trading floors in Nghe An, the housing market segments are very diverse, but there are still not many foreigners participating in ownership.

The housing market segment for foreigners allowed to own in Nghe An is currently very quiet, and foreign individuals and organizations participating in registering ownership are currently concentrated in big cities such as Hanoi, Ho Chi Minh City, Da Nang...

This also causes the real estate market in Nghe An to not have many major fluctuations due to foreign individuals and organizations pouring capital into investment to buy and resell.