The government has issued requirements and procedures on house purchases by foreigners in Vietnam.

Under it, foreign individuals and institutions wanting to obtain a government certificate on using land, inheriting, presenting or owning houses in the country according to National Assembly's Resolution No 19/2008 must meet full of following requirements:

Now it's official. A new law on the real estate market in Vietnam will allow foreign nationals to buy certain residences. The existing regulations in that field thus far allowed individual foreigners only to lease residences for longer or shorter periods. New policy aims to provide more legal security for small foreign investors, and for those expatriated former Vietnamese who may decide to return to their and their parents' homeland.

Vietnam, China's neighbor to the south, has huge plans for developing its trade and tourism centers in the coming years. These plans include developing Phu Quoc Island into a major tourist destination that could attract a flood of vacationers from China's mainland. See the following article from Property Wire for more on this developing real estate market.

Vietnam's property market is showing signs of recovery with quality investors now entering the market as opposed to speculators.

Source: http://www.intellasia.net/news/articles/property/111268341.shtml

Saigon South is confirming itself as HCM City's new business and entertainment hub with the launching of the area's first ever luxury shopping centre.

Kim Cuong Limited Company (paragon), a joint venture between Khaisilk Corp and Thuy Loc Corporation, last week launched Saigon Paragon Shopping Centre at Phu My Hung new township's Nguyen Luong Bang Street.