Can foreigners own property in Viet Nam?

According to Article 159 of the Law on Housing No. 65/2014/QH13 dated on November 25, 2014, as from July 1, 2015, foreigners including a group of "foreign organizations” and individuals shall be allowed to own residential property in Viet Nam.

In particular, the group of "foreign organizations” allowed to own houses in Viet Nam includes foreign invested companies; branches and representative offices of foreign enterprises, foreign investment funds and foreign bank branches.

Foreign individuals, who are permitted to entry into Viet Nam, shall have right to own houses without further requirements on residency, investment in Viet Nam, work permit, social contribution and/or marriage to a local Vietnamese. However, Article 9 and 10 of the Law on Entry, Exit, Transit and Residence of Foreigners in Viet Nam 2014 provides certain types of permit to entry into Viet Nam with the terms from 1 month to 5 years. Individuals wishing to entry into Viet Nam for investing, working and studying have to prove their purposes of entry while applying visa to Viet Nam. 

Source: AsiaReal