Despite ownership issues, many foreigners are looking to buy property in Vietnam, Photo: Le Toan Feelings among first buyers Kevin Hawkins, co-executive partner of ZICO Law Vietnam, bought an apartment in Saigon Pearl from a deposit contract from a Vietnamese owner who already paid 95 per cent of the price in 2009. “I have been living here since 2003 and was tired of wasting money on renting a house. Thanks to the pilot programme permitting foreigners to buy houses, now I can make my dream of owning a home come true and register it under my name,” Hawkins told VIR. Meanwhile, Leung Kai Sun Sunny, a buyer from Hong Kong, believes foreigners are mostly waiting to come across the ideal property that ensures long-term benefits. Leung had bought four units in high-end projects in Ho Chi Minh City and said that he received a good yield and much better benefits than what is available in neighbouring countries. “The expense of buying land plots and construction in other countries like China and Japan is very high, which drives up prices for buyers or homeowners, mostly to three to four times higher than here,” he told VIR. “I would say investors face… Read full this story
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