The People’s Committee of Ho Chi Minh City has just announced a new list of 48 commercial housing projects where foreign individuals and organizations are allowed to purchase properties — nearly tripling the number compared to the previous announcement.
Among these, Phu My Hung Development Corporation alone accounts for 39 projects, primarily concentrated in Zone A of the Saigon South Urban Area, in Tan Hung and Tan My Wards. Notable developments include The Panorama, Riverpark Residences, Sky Garden, and Scenic Valley.
In addition, three other projects developed by Phu Hung Thai Development JSC — a joint venture between Phu My Hung and three Japanese partners: Daiwa House Group, Nomura Real Estate, and Sumitomo Forestry Group — are also included on the list.
Other Approved Developers
Beyond Phu My Hung, several other developers also received approval.
- Dat Xanh Group: High-rise residential complexes CC1 and CC5 (commercially branded as The Privé) in Binh Trung Ward, with a total scale of nearly 43,000 m².
- CapitaLand – Thien Duc: Three projects in Cat Lai Ward, including Vista Verde (Lot Y2), Commercial Apartment Complex Y1, and Define (Lot Z2).
- CVH Mua Xuan Co., Ltd.: Permitted to sell units to foreigners at its housing development in Binh Trung Dong Ward.
Previous Announcements
Earlier, Ho Chi Minh City had published a list of 17 projects open to foreign buyers. These included well-known developments such as City Garden (by City Garden JSC), Dragon Village (by Dragon Village Real Estate JSC), and Celadon City (by Gamuda Land JSC).
All approved projects are located in areas deemed non-sensitive to national defense and security, in compliance with legal requirements allowing foreign homeownership.
With this expansion, the city now has a total of 65 projects eligible for foreign ownership.
Real estate in downtown Ho Chi Minh City, July 2025
Market Impact
Experts believe this broader approval will not only improve liquidity in the housing market but also help attract high-quality international talent.
As Ho Chi Minh City pursues its ambition to become an international financial hub, a free-trade center, and a semiconductor industry hub, demand for housing from foreign specialists and engineers is expected to rise significantly. Having more projects suitable for foreign buyers will support this demand, while simultaneously enhancing the city’s real estate market appeal.
Legal Framework
Under the 2023 Housing Law and Decree 95/2024, foreign individuals and organizations may own housing in Vietnam if they meet certain legal requirements, such as holding an investment registration certificate, having valid establishment papers in Vietnam, or being permitted to enter the country.
They may only purchase commercial housing within projects not affecting national defense and security, and ownership is capped at 30% of the apartments in a condominium building or 250 landed houses within a ward-level administrative unit.
Foreign organizations investing in housing projects must obtain an investment registration certificate. Those not directly investing but seeking ownership must present valid investment licenses or other documents issued by competent Vietnamese authorities at the time of transaction.
In short: The expansion of eligible projects represents not just an opportunity for foreign buyers but also a strategic move by Ho Chi Minh City to align its real estate sector with broader economic ambitions.
Source: https://vnexpress.net/tp-hcm-bo-sung-48-du-an-cho-nguoi-nuoc-ngoai-duoc-mua-nha-4929405.html#
