Foreigners Buy Houses In Phu My Hung – Phu My Hung, a modern urban area located in District 7 of Ho Chi Minh City, Vietnam, is increasingly attracting the attention of foreigners when they decide to buy houses here. With a convenient location, classy infrastructure, and airy green space, Phu My Hung has become one of the ideal destinations for those who are looking for a desirable life in Vietnam.
Contents
Phu My Hung’s attraction to foreigners
Phu My Hung is a new urban area located in District 7, Ho Chi Minh City, Vietnam, and it has attracted many foreigners to live and work in the past few years. Here are some reasons why Phu My Hung is attractive to the foreign community:
Utilities and services
Phu My Hung is designed to meet the needs of both domestic and foreign residents. This area has many shopping centers, restaurants, cafes, international schools and convenient medical services. This makes life here easy and comfortable for foreigners.
Security and living environment
Phu My Hung is considered a safe area with a 24/7 security system and strict management. In addition, this urban area is also carefully cared for with green parks, a convenient transportation system and a clean living environment.
Diverse community
Phu My Hung has a diverse expat community, including mixed-race people and foreign residents from many different countries. This creates a multicultural environment that is conducive to integration and communication.
4 Reasons foreigners choose Phu My Hung
You have given 4 important reasons why Foreigners Buy Houses In Phu My Hung:
Favorable geographical location: Phu My Hung is located in a strategic geographical location in District 7 of Ho Chi Minh City, near the city center and has convenient access to other important areas. This helps foreigners easily move to work, schools, shopping centers and entertainment areas.
Infrastructure and service facilities: Phu My Hung is equipped with a modern infrastructure system and diverse amenities such as shopping centers, restaurants, cafes, international schools, hospitals and parks. . This convenience helps residents, especially foreigners, have a comfortable and convenient life.
Security and living environment: Phu My Hung ensures a high level of security with a 24/7 security system and strict urban management. A clean and green living environment is an important factor that makes foreigners feel secure and satisfied.
Safe investment and profit potential: With the rapid development of Ho Chi Minh City, Phu My Hung becomes an attractive choice for investors. Real estate projects here have high profit potential, and investing in real estate in Phu My Hung is considered a notable opportunity with the ability to preserve and increase asset value.
Phu My Hung real estate market for foreigners
Foreigners Buy Houses In Phu My Hung – Phu My Hung is a developed urban area located in District 7, Ho Chi Minh City, Vietnam. This area has attracted many foreigners to live and work due to the development of infrastructure, services and international community.
Home buying trends of foreigners in Phu My Hung
Foreigners often look for housing types such as luxury apartments, villas, and townhouses in Phu My Hung urban area. This often depends on their needs and financial capabilities.
The type of housing and price are suitable for them
Phu My Hung has many high-end apartment projects with modern designs and diverse areas. Prices fluctuate depending on the location, area and amenities of the project. The price can range from several hundred million to several billion USD.
Process and instructions for buying a house for foreigners
Before buying real estate in Vietnam, foreigners need to check the regulations on real estate ownership and related provisions of Vietnamese law. Some regulations may change over time.
Following: Foreigners Buy Houses In Phu My Hung
Challenges and difficulties in buying houses for foreigners
Buying a home as a foreigner can present a number of challenges and difficulties, especially when buying in a country with different legal regulations and culture. Here are some common challenges that foreigners often face when buying a home in another country:
Related laws and procedures
Each country has its own legal regulations regarding real estate ownership, and foreign ownership rights may be limited or conditional. Legal procedures need to be carried out to determine ownership.
Financial situation and sponsorship
Expats often do not have a credit history in the new country, which can make securing a loan more difficult. Some people have to make large deposits or find independent financing.
Social and cultural factors
Foreigners may have difficulty understanding and negotiating with relevant parties if they do not know the language of the country of purchase. A translator or support person with communication skills is required.
Conclude
Ultimately, buying a home is not only a financial investment but also an investment in life and the future. By creating a good and favorable living environment for foreigners, Phu My Hung has been contributing to building a diverse and developed community, bringing benefits to both domestic and international residents.
FREQUENTLY ASKED QUESTIONS
Can people of Vietnamese origin residing in the US buy houses in Vietnam?
Article 159, Housing Law 2014, Subjects eligible to own housing and forms of housing ownership in Vietnam by foreign organizations and individuals
- Foreign organizations and individuals eligible to own housing in Vietnam include:
- a) Foreign organizations and individuals investing in housing construction projects in Vietnam according to the provisions of this Law and relevant laws;
- b) Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter collectively referred to as organizations foreign);
- c) Foreign individuals are allowed to enter Vietnam.
- Foreign organizations and individuals can own housing in Vietnam through the following forms:
- a) Invest in housing construction according to projects in Vietnam according to the provisions of this Law and relevant laws;
- b) Buy, lease-purchase, receive as a gift, or inherit commercial housing including apartments and individual houses in housing construction investment projects, except for areas ensuring national defense and security according to regulations. Government regulations.
Article 161. Rights of house owners who are foreign organizations and individuals
- Foreign organizations and individuals specified in Point a, Clause 1, Article 159 of this Law may exercise the rights of housing owners as prescribed in Article 10 of this Law; In case of building a house on rented land, only the right to rent the house is allowed.
- Foreign organizations and individuals specified in Points b and c, Clause 1, Article 159 of this Law have the same rights of home owners as Vietnamese citizens but must comply with the following regulations:
- a) Only be allowed to buy, rent-purchase, receive gifts, receive inheritance and own no more than 30% of the number of apartments in an apartment building; If it is an individual house including villas and townhouses, then in an area with a population equivalent to a ward-level administrative unit, you can only buy, rent-purchase, receive gifts, inherit and own. no more than two hundred and fifty houses.
In case an area with a population equivalent to a ward-level administrative unit has many apartment buildings or individual houses on a street, the Government shall stipulate specifically the number of apartments and the number of apartments. Individual houses that foreign organizations and individuals can buy, lease, receive as gifts, inherit and own;
- b) In case of being given or inheriting a house that is not specified in Point b, Clause 2, Article 159 of this Law or exceeds the number of houses specified in Point a of this Clause, you will only enjoy the value of the house. there;
- c) For foreign individuals, they are allowed to own housing as agreed in transactions of purchase and sale contracts, lease purchases, gifts, and inheritance of housing but for a maximum of 50 years from the date of issuance of the Certificate. Certification and can be extended according to Government regulations if needed; The term of home ownership must be clearly stated in the Certificate.
In case a foreign individual marries a Vietnamese citizen or marries a Vietnamese residing abroad, he/she can own a stable, long-term house and has the rights of a house owner like a Vietnamese citizen. Male;
- d) For foreign organizations, they are allowed to own housing as agreed in contract transactions of buying and selling, renting, donating, or inheriting housing but must not exceed the time limit stated in the Certificate. investment granted to that organization, including extended periods; The housing ownership period is calculated from the date the organization is granted the Certificate and is clearly stated in this Certificate;
- d) Before the expiration of the house ownership period according to the provisions of this Law, the owner can donate or sell this house to subjects eligible to own houses in Vietnam; If the house ownership period has passed and the owner does not sell or donate the house, then that house is state-owned.
Can foreign individuals buy apartments in Vietnam?
Specifically, based on the provisions in Clause 1, Article 74 of Decree 99/2015/ND-CP stipulating the documents required to prove the subjects and conditions for owning housing in Vietnam for foreign individuals. as follows:
For foreign individuals, they must have a valid passport with an entry verification stamp from the Vietnamese immigration management agency and are not subject to diplomatic privileges and immunities according to French regulations. Order on privileges and immunities for diplomatic missions, consulates and representative offices of international organizations in Vietnam.
Conclusion in the above case, a foreigner who has entered Vietnam for 3 months, if not eligible for diplomatic and consular privileges and immunities according to the provisions of law, is already a homeowner. residing in Vietnam, and must have documents proving that the subject is eligible to own housing according to regulations. Foreigners who meet the above conditions can only buy housing in the form of apartments and individual houses in housing construction investment projects with the condition that they are not located in defense and security areas. according to regulations of the Government of Vietnam.
Can foreigners buy apartments directly from Vietnamese individuals?
According to the provisions of Clause 2, Article 76 of Decree 99/2015/ND-CP as follows:
Foreign organizations and individuals eligible to own housing in Vietnam are only allowed to buy or lease-purchase housing from investors in housing construction projects or purchase housing from foreign organizations and individuals specified in Clause 1 of this Article. Point b, Clause 4, Article 7 of this Decree and are only allowed to inherit, receive as gifts of houses from households, individuals or receive as gifts of houses from organizations within the number of houses as prescribed in Clause 3, Clause 4 of this Article in housing construction investment projects that are allowed to own; In cases where a foreign organization or individual is given or inherits a house in Vietnam but is not eligible to own a house in Vietnam, it shall be resolved according to the provisions of Article 78 of this Decree.
Thus, according to the law, you as a Vietnamese person do not have the right to sell commercial apartments to foreigners. Foreigners can only buy, lease-purchase housing from housing construction project investors and buy and receive housing as gifts from foreign organizations and individuals who own housing in Vietnam. In addition, foreigners are not allowed to own more than the number of houses prescribed by law.
Please visit our website at:
Contact Info
BEST HOUSE SERVICES COMPANY LIMIDTED
- Adress: 38 Hung Gia 4, Phu My Hung, Tan Phong Ward, District 7, HCMC
- Hotline: 0909 197 412 or 0911 74 5505
- Gmail: jenny.besthouse@gmail.com
- Website: https://besthousevn.com/
