Foreign ownership approved at Vinhomes Ocean Park 2-3

On June 28, Vinhome Ocean Park 2 and 3 were officially licensed to sell housing to foreign individuals and organizations.

According to the new Housing Law and Land Law regulations, expected to take effect August 1, the issuance of individual home ownership certificates to foreigners buying houses in Vinhomes Ocean Park 2, 3 will be allowed.

Non-Vietnamese will be permitted to own a house for a term of 50 years, with the option to extend it only once for a maximum of another 50 years.

Vinhomes Ocean Park 2 boasts many high-class utilities that meet the long-term needs of foreigners. Photo courtesy of Vinhomes

Lee Jang-wol, a Korean engineer working in Bac Ninh, said he and his wife have intended to buy a house to settle down.

He aimed to buy one at Vinhomes Ocean Park 2, especially after it launched K-Town Korea.

Now that the project has officially been sold legally to foreigners, the Lee family decided to Ocean City to live.

Yang Ji-hyo’s family made their goal to buy atVinhomes Ocean Park 3 because of its dynamic design style.

Each project can only sell a maximum of 250 individual houses to foreigners, so next week he and his wife will survey available units to choose a house and sign a sales contract.

Vinhomes Ocean Park 3. Photo courtesy of Vinhomes

Along with the strong growth of FDI capital flows, the foreign labor force coming to Vietnam is increasing rapidly.

By the end of 2023, this number was nearly 136,800 people.

Instead of renting a house, many of them aim to buy and own a house.

Many foreign individuals and organizations also own houses for rent and operate their own businesses.

However, the number of successful transactions in recent years has been low due to scarce supply.

The official licensing of Vinhomes Ocean Park 2 and 3 will add quality supply to the market, helping to meet the housing ownership needs of foreigners in Vietnam.

K-Town Night Street at Grand World brings many interesting experiences to foreigners in general and Koreans in particular. Photo courtesy of Vinhomes

Located in the heart of Ocean City, the “Capital District” of Vinhomes Ocean Park 2 and the “Resort District” of Vinhomes Ocean Park 3 meet the standards of the international community: prime location, convenient transportation, clean living environment, and civilized community.

Both cities have their own high-class amenities designed to serve the long-term settlement needs of foreigners.

Regarding connectivity, the two projects benefit from the area’s radial traffic system that includes the Co Linh intersection, the Hanoi-Hai Phong-Ha Long-Mong Cai Expressway, National Highway 5A, the Hanoi-Bac Giang and Hanoi-Thai Nguyen expressways, and the bridge systems of Thanh Tri, Vinh Tuy, Chuong Duong, Dong Tru, as well as Nhat Tan.

Foreign residents can move quickly and conveniently into the center of Hanoi as well as to industrial centers in the Northern Key Economic Region.

Vinhomes Ocean Park 2, 3 are also home to resort and entertainment amenities, including VinWonders Wave Park and VinWonders Water Park, commercial streets in K-Town, the “Venice” area, the artificial lake Crystal Lagoon, as well as a green park system, an amusement park, and an exercise area.

Many Koreans said that the K-town feels familiar, like being at home. Photo courtesy of Vinhomes

In the near future, Vinhomes Ocean Park 2 will also have a KGS Korean International School and a Vinmec Korea Medical Center, contributing to completing the high-end utility system and meeting the needs of living, working, playing, entertainment, studying, and taking care of the health of the foreign community.