Regulations on Conditions for Foreigners’ Housing Ownership in Vietnam: Inadequacies and Possible Solutions

Abstract

In Vietnam, the concept of “settling down, having a good career” becomes an important goal of each individual. It means having a stable place to live can be guaranteed when you get a job. Therefore, home ownership becomes a basic human right. In the current integration trend, when the opening to trade between countries around the world is deepening, the demand for house ownership is not only limited to Vietnamese citizens, but also to foreigners. Vietnam has also recognized the problem of foreigners owning houses in Vietnam, but there are still restrictions on the number of houses, the area of houses owned and other issues. Currently, the Government is implementing a policy to attract investment in housing in order to exploit the development potential of this field in Vietnam as well as to solve the outstanding housing problem and expand the housing market. Therefore, the issue of foreigners’ home ownership becomes an important concern and is one of the research subjects to implement this policy.The article presents the provisions of Vietnamese law, international law on home ownership rights of foreign individuals and organizations in Vietnam, as well as conditions for foreign individuals and organizations to own housing in Vietnam, a guarantee of human rights. In addition, the article also points out to the shortcomings of the national legal regulation, thus making some recommendations to overcome the difficulties of the real estate market and housing development in Vietnam.