The Housing and Real Estate Market Management Office of the Da Nang Department of Construction recently warned that local individuals are not allowed to sell houses to foreign subjects.

According to the current national government-issued housing laws that came into effect in 2015, eligible foreign individuals and entities are only be allowed to buy, receive, or inherit apartments and houses in commercial projects and not in areas that limit or ban foreigners.

They are able to own at most 30% of the apartments in a condo building. For individual properties in an area with a population equivalent to that in a ward-level administrative unit, foreigners are permitted to own a maximum of 250 houses.

Individual foreigners may extend their home ownership after 50 years, according to their need. The government provides further details about the extension process in the future.

They may lease their property for any “purposes that is not banned by law” but must also inform the provincial house management agency before leasing the property.

Foreign property owners will also be subject to the nation's property taxes.

Foreign entities can already buy property to house their employees, but they are not able to lease or use it toward any other purpose.

Recently, the Da Nang Construction Department has listed 17 commercial housing projects that allow foreigners to own homes.

In detail, foreigners will be given ownership certificates when buying apartments or houses at the La Paz Tower, the Han River side 34-storey Aruza, Hoang Anh Gia Lai Lake View, Da Nang Plaza, FPT City, An Vien residential zone, Harmony Tower, Blooming Tower, Golden Square complex, the Summit Son Tra, Thuy Tu Urban, Hoa Binh Green Da Nang complex, the Monarchy, Hiyori Garden Tower, P.A Tower, Marina Complex Da Nang, and Condotel Quang Nguyen Tower Da Nang.

Meanwhile, 3 projects – F-Home, Da Nang Diamond Tower and Indochina Riverside Tower – will not allow foreigners to buy and own houses.