The Ho Chi Minh City People’s Committee has issued an administrative penalty against CapitaLand, Vista Co Ltd over violations related to housing sales to foreign individuals and organisations.
According to authorities, the developer sold 87 apartments at the luxury residential project located at 628C Vo Nguyen Giap, also known as The Vista An Phu complex in An Khanh Ward, to foreign buyers without submitting mandatory notifications to the city’s Department of Construction.
Current regulations require developers to send information by both email and written notice for publication on the department’s electronic information portal after selling homes to foreign purchasers.
For the violation, CapitaLand, Vista was fined VND 280 million (approximately USD 10,800).
Vietnamese law does not prohibit foreigners from buying or owning property in Vietnam. However, foreign ownership remains subject to limits on the proportion and number of units allowed.
Under the 2023 Housing Law, foreign organisations and individuals may own no more than 30 per cent of apartments within a condominium building, or no more than 250 houses in an area with a population scale equivalent to a ward.
To monitor these ownership limits, current regulations require sellers to notify provincial housing management authorities within three working days from the date a sales contract is signed. The notice must include the buyer’s name and the address of the property sold for publication on the authority’s official portal.