Da Nang disallows foreigners from owning property in 3 projects

By Nguyen Ha   February 15, 2019 | 10:24 am GMT+7
Da Nang disallows foreigners from owning property in 3 projects
Foreign buyers are now allowed to own property in most housing projects in Da Nang. Photo by VnExpress

Foreigners are now allowed to own housing in most projects in Da Nang except for three. 

The city Department of Construction has announced the list of 17 projects in which foreign organizations and individuals can buy units.

The list includes condotels and service apartments. 

Only three projects are off-limits -- Indochina Riverside Tower, F - Home Apartment complex and the Danang Diamond Tower – but no reason was given for these exceptions.

Since July 2015 Vietnam has allowed foreigners to buy properties though not land with a ceiling of 30 percent of a residential quarter or apartment project.

Areas considered sensitive to national defense and security are off-limits to foreign buyers.

Official data shows there are now 83,500 foreigners working in Vietnam.

 
 
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