transport costs in Singapore are almost three
times higher than in New York.”
But Singapore does offer relative value in other
categories, especially compared to regional
cities. Basic groceries are 11% more expensive
than in New York. However, groceries are 49%
higher in Seoul, 43% more in Tokyo and 31%
more in Hong Kong.
Vietnam to allow foreign ownership
of property
Vietnam is opening its real estate market to
foreign buyers effective 1st July, 2015. Under
the new law, non-citizens will be allowed, with
a valid visa, to own houses and apartments.
The law applies to foreign companies and
organizations, too. The old law allowed only
foreigners married to Vietnamese nationals,
and those making contributions to the
country, to purchase real estate.
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Non-citizens will be allowed to own up to
30% of any apartment building. The law is
similar to one in force in Thailand, where
foreigners my own up to 49% of space in any
condo development.
The law opens the way to foreign investment funds, banks, Vietnamese branches and
representative offices of overseas companies.
Purchases may consist of residential property,
including condos, as well as “landed” property
such as villas and townhouses.
There are no limits on the number of dwellings
a foreigner may own, provided the number
does not exceed 30% of the condo complex, or
250 units in any particular administrative ward.
The previous law allowed eligible foreigner to
buy just one condo in Vietnam.
Foreigners may sublease, trade, inherit and
collateralise their property, whereas previously the foreign owner could only occupy the
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