I have some quick questions which are absolutely related to real estate law. Vietnamese Law says a foreigner can purchase apartment under their name. Some of you already purchased one too.
My questions are :
1. What type of apartment they can purchase?
2. If your answer is "all types of apartment", say whether this law only applicable in main cities or all over Vietnam.
According to Article 161 (2)C of The Law on Housing, 2014:
"The foreign individuals are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not more than 50 years, from the day on which they are granted the Certificate and they may be also granted extension as prescribed in regulations of the Government; the duration of the homeownership must be stated in the Certificate.
If a foreign individual marries to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens;"
Hope to get some serious replies from experienced ones