This decision is part of the city's continued efforts, to attract international investment in its real estate market.

The two projects are Lumi Hanoi, which is located within the Vinhomes Smart City complex in Tay Mo, Nam Tu Liem District, and Heritage West Lake in Tay Ho district, which is popular with foreigners.

This follows a similar approval in October, when five residential projects in Hanoi were also opened for sale to foreign buyers.

According to data from the Ministry of Construction, between 2015 and the third quarter of 2023, over 3,000 foreigners bought homes in Vietnam, with more than 50% of these properties located in Hanoi (over 1,760 units).

The majority of foreign buyers hail from China, the Republic of Korea, Singapore, the United States, Australia, Japan and Malaysia. In the first half of this year alone, over 1,000 apartments in Hanoi were sold to foreign nationals./.