According to an official statement, Vietnamese authorities have announced that foreigners are allowed to own an apartment in Vietnam for up to 50 years.

Foreigners include investors, persons who contribute to national development, experts in various fields, persons with a Vietnamese spouse, and non-real estate companies.

Foreign owners will have to sell or transfer the house when the ownership tenure ends.

In addition, the statement announced that foreign buyers will receive their ownership titles within 30 days of submitting applications to the construction department.