Vietnam Property: Buying property in Phu Quoc

Phu Quoc

Phu Quoc’s property market is something of an anomaly in Vietnam Property market as the Vietnamese government recently announced that it was to allow permanent foreign residents and overseas Vietnamese to purchase houses there. The move was included in a recent prime ministerial decision on the region’s operation statute, which was issued as part of a bigger plan to build the largely undeveloped area into a world-class tourist destination. The Vietnam government’s decision allows permanent foreign residents to take out long-term leases on land and overseas Vietnamese to purchase houses with attached land use rights. However, the government is yet to confirm the duration the land leases being made available to foreigners will be for.

Read More