HANOI, May 11 (Xinhua) -- Foreigners have got 549 home ownership certificates from Vietnamese authorities since the country's amended Housing Law went into force on July 1, 2015, according to the Vietnamese Ministry of Construction.
Since foreigners were formerly banned from owning houses in Vietnam, the new Housing Law was set to spur the local real estate market.
As it has been nearly two years since the law took effect, the mentioned number of home ownership certificates issued for foreigners is considered small and falling short of expectation, viewed local experts.
Under Vietnam's prevailing regulations, foreign organizations and individuals can buy and own homes at commercial residential projects outside restricted areas of the two ministries of public security and defense.
