The Government confirms that new laws will allow foreigners to buy condominiums beginning 1 August 2009.
Previously, the announced date for this law to come into force was the 1st of January 2009, but because of undeveloped procedures the time was delayed.
This pilot project will allow for foreigners living here for more then 6 months and having a one year labor contract with a local or foreign company, or for foreigners married to Vietnamese, to buy condos.
At this time Vung Tau has several condo complexes with available units for sale, such as Sea View, Hodeco Plaza and 15 store buildings on Nguyen Thai Hoc street.
Also 4 new complexes under development now those offer units for sale. These will be available to move into in 1-2 years. Lake Side buildings and Luxury towers on the Thy Van street are being developed by DIC group. Two new complexes on Le Hai Phong street near the Central post office, Vungtau Plaza and Saigonres Towers, are presently under construction as well.