The Tâm Lực residential project in An Phú Ward has been approved for foreign ownership in HCM City. — Photo tienpong.vn

HÀ NỘI — HCM City has expanded foreign access to its housing market, raising the number of eligible residential projects to more than 130 in a move aimed at supporting property demand and attracting overseas talent.

The two latest additions are the Phú Hưng apartment complex in Chánh Hiệp Ward and the New Tech mixed-use residential project in Phú Thuận Ward.

The city had previously approved eight other projects for foreign ownership, including the 36.2-hectare An Điền Eco Residential Area, the Vista luxury apartment project, CapitaLand’s Sensation development and An Khang (A&K Tower), among others.

The new approvals bring the total number of housing projects in HCM City eligible for foreign ownership to 133.

Since the start of 2025, city authorities have updated the list seven times, reflecting a broader push to increase transparency and improve access for overseas buyers.

The move comes as policymakers look for new sources of demand to support a property market that is gradually recovering after several years of weak liquidity and limited transaction activity.

Under Việt Nam’s Housing Law 2023 and related regulations, foreign organisations and individuals may own homes in approved commercial housing projects, provided the developments are not located in areas related to national defence or security.

Foreign buyers may own up to 30 per cent of units in a condominium building or up to 250 landed homes in an area with a population of 10,000 people.

Market observers say the expansion of eligible projects could help developers broaden their customer base at a time when many are seeking to accelerate sales and improve cash flow.

The policy is also expected to attract demand from expatriates, senior executives and highly skilled workers living and working in HCM City.

Unlike speculative investors, many foreign residents purchase homes for long-term accommodation, particularly in projects offering convenient transport links, established infrastructure and professional property management. This could provide a more stable source of demand for the city’s mid-range and premium housing segments.

The latest approvals also signal continued government support for foreign participation in Việt Nam’s real estate market.

Authorities have increasingly promoted policies aimed at improving market transparency and creating a clearer legal framework for overseas investors.

In the longer term, analysts say demand from foreign buyers could rise further as HCM City pursues its ambition of becoming an international financial centre. The strategy is expected to attract more multinational companies, financial institutions and foreign professionals, increasing demand for high-quality housing across the city. — BIZHUB/VNS