Society

Hanoi to grant land use right certificates to foreigners

The Hanoi People’s Committee has agreed to grant certificates of land-use rights and house ownership, known in Vietnam as a “red book”, to overseas Vietnamese and foreign home buyers.
The Hanoi People’s Committee has agreed to grant certificates ofland-use rights and house ownership, known in Vietnam as a “redbook”, to overseas Vietnamese and foreign home buyers.

As of May 4 this year, eligible home buyers who meet all the necessaryrequirements will be able to obtain a red book to certify their homeownership and land-use rights. They can own the property for no morethan 50 years.

Within 12 months of the ownershipcertificate expiring, foreign home-owners must sell or donate theirproperty. A foreigner is permitted to own one property only.-VNA
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Illustrative image (Photo: VNA)

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(Photo: VNA)

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