Both overseas Vietnamese and foreigners are now allowed to buy into condominium developments and own an apartment in Hanoi or Vietnam once they meet certain conditions. The law states that foreign organisations and individuals are allowed to buy and own an apartment in a commercial housing development project and that foreign individuals can own an apartment for 50 years and extend ownership once for another 70 years. They must be backed up by documents that prove that they will stay in the country for a year or that they already have stayed for a year. Each foreigner can own only one apartment at a time although foreign organisations can own an apartment for as long as the period specified in their investment license. Continue reading “Buying apartments in Hanoi” »