Real estate developments in downtown HCM City. City authorities have approved six additional residential projects for sale to foreign individuals and organisations. — VNS Photo Bồ Xuân Hiệp

HCM CITY — HCM City authorities have approved six additional residential projects for sale to foreign individuals and organisations, expanding access to the market as Việt Nam steps up efforts to attract overseas talent and capital.

The newly cleared projects span multiple locations, including Bình Dương and Thủ Đức City, marking a wider geographic rollout of housing supply open to non-residents.

The largest development is The One World, built by Kim Oanh Group, covering more than 495,000 square metres.

Other approved projects include Phú Đông SkyOne and several mixed-use complexes integrating residential, commercial and service components.

The latest approvals bring the total number of projects in the city eligible for foreign ownership to 123, following a series of additions since 2025, according to local authorities.

The move comes as Việt Nam seeks to position its southern commercial hub as an international financial and innovation centre, with demand for housing rising among foreign professionals, engineers and investors relocating to the city.

Expanding the list of eligible projects is expected to support liquidity in the property market, which has been under pressure from tighter credit conditions and regulatory scrutiny, while also helping retain high-skilled labour, analysts said.

Under current rules, foreign buyers may purchase units in commercial housing projects that are not located in areas linked to national defence or security.

Ownership is capped at 30 per cent of apartments in a single building, or up to 250 landed homes within a ward, subject to legal eligibility and valid entry into Việt Nam.

Foreign organisations must hold valid investment licences or equivalent legal documentation to participate in property transactions.

The framework is governed by the 2023 Housing Law and Decree 95, which define eligibility criteria for foreign ownership, including legal status requirements for both developers and buyers.

Việt Nam first opened its residential property market to foreign buyers in 2015 and has since gradually refined regulations to improve transparency and compliance.

The latest expansion comes as authorities seek to revive the real estate sector after a prolonged slowdown, with policymakers balancing market stability against efforts to draw in foreign capital.

Data from PropertyGuru show more than 70 per cent of homebuyers in Việt Nam prioritise developers with strong financial capacity and established track records.

According to investment advisory publication Vietnam Briefing, the country’s middle class will account for around 26 per cent of the population by the end of this year, supporting demand for higher-quality housing.

Analysts said publishing project-by-project approval lists could improve legal clarity for overseas investors and expatriates navigating one of Southeast Asia’s fastest-growing urban property markets. — VNS