The municipal People's Committee said City Garden JSC, based at 59 Ngo Tat To Street in Thanh My Tay Ward, had signed sales contracts for 148 apartments at the City Garden apartment project with foreign individuals and organisations.
However, the company failed to submit information by email and in writing for publication on the Ho Chi Minh City Department of Construction's website, as required by law.
City Garden apartment block on Ngo Tat To Street, Thanh My Tay Ward (Photo: Google Maps).
The violation falls under Article 64 of Government Decree 16/2022, which sets out administrative penalties for violations in the construction sector. Acting on a recommendation from the director of the Department of Construction, the municipal People's Committee ordered City Garden JSC to pay a VND 280 million (USD 10,800) fine.
The company must pay the fine and submit proof of payment to the authorities within 10 days of receiving the decision.
Under Vietnam's 2023 Housing Law, foreign individuals and organisations face limits on the proportion and number of homes they can own in the country. They may purchase and own no more than 30 per cent of the apartments in a condominium building, or no more than 250 houses in an area with a population equivalent to that of a ward.
To monitor these ownership limits, current regulations require sellers of houses or apartments to notify the provincial housing authority by email and in writing of the buyer's name and the address of the property sold within three working days of signing a sales contract.
The information is then published on the authority's official website.