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Foreigners buying homes in Vietnam: “Golden” opportunity for brokers

26/06/2017
Since July 1, 2015, the 2014 Housing Law and 2014 Real Estate Law, passed by the Vietnam National Assembly on November 25, 2014, have come into effect. These new legislation looks set to address the needs of a developing real estate industry in Vietnam and give foreign individuals and entities, local developers and brokers more "golden" opportunities.
Since July 1, 2015, the 2014 Housing Law and 2014 Real Estate Law, passed by the Vietnam National Assembly on November 25, 2014, have come into effect. These new legislation looks set to address the needs of a developing real estate industry in Vietnam and give foreign individuals and entities, local developers and brokers more "golden" opportunities. 
 
 

The 2014 Housing Law states that any foreigner with an entry visa is authorised to purchase, lease-purchase or receive home as a donation or heritage. Almost forms of investment by foreign entities are permitted. Besides, ownership period for foreign individuals is 50 years and can be extended. Especially, any foreign individual who marries a Vietnamese or an overseas Vietnamese is entitled to long term home ownership. 

The relaxed regulations of the 2014 Housing Law have opened up many opportunities for people involving in the real estate market: foreigners wishing to buy homes in Vietnam, real estate developers as well as brokers.

Foreigners buying homes in Vietnam: “Golden” opportunity for realtors
Trainees participate in "Senior real estate brokers" program will be directly trained
by NAR experts. 

According to a report of the Vietnam Real Estate Association (VNREA), in 2016, the number of foreigners living and working in Vietnam reached over 320,000 people. The firgure continues to increase in 2017, leading to a large demand for home ownership of foreigners in Vietnam. Real estate brokers play the role of a bridge between foreign buyers and local developers.

Statictis of National Association of Realtors (NAR) reveals that 88% of buyers in US purchase homes through real estate brokers. In Vietnam, there is no official statistics, but according to data from Batdongsan.com.vn, more than 80% of buyers purchase homes through brokers and trading floors. These figures show real estate brokerage plays an important role in the real estate business in particular and the needs of the whole society in general.

However, most real estate brokers in Vietnam are not trained properly. The lack of knowledge and skills of brokers makes foreign customers worry. In addition, some regulations on property ownership of foreign investors in Vietnam are still unclear, making foreigners face challenges in buying process.

With the aim of improving the professional qualification of Vietnamese brokers, especially in the process of dealing with foreign clients, in June 2017, Batdongsan.com.vn in collaboration with NAR and Vietnam Association of Realtors (VAR) hold a special training program named “Senior real estate brokers". 

Participating in the program, trainees will learn about key knowledge such as real estate business model in developed countries; qualification of exclusive agent for seller, buyer and tenant under international standards; branding and marketing in real estate brokerage ... In addition, after the training program, trainees will be granted a Certificate of Completion issued by NAR for business promotion and marketing.

Special training program of the National Association of Realtors (from US): SENIOR REAL ESTATE BROKER

In Ho Chi Minh City: Monday, June 26, 2017 at InterContinental Asiana Saigon Hotel, Corner Hai Ba Trung St-Le Duan St, District 1

In Ha Noi: Wednesday, June 28, 2017 at JW Marriott, No. 1 Do Duc Duc, Nam Tu Liem District 

CONTACT DETAILS
Hotline: 0904 64 81 83
Email: experttalk@batdongsan.com.vn

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