According to announced information, the Song Hong Housing Area and Agricultural Products Market project has a scale of about 7.96 hectares, construction location in Viet Yen commune, Hung Yen province.
Regarding the number of houses that foreign organizations and individuals are allowed to own in the project, the Department of Construction said that the maximum number of detached houses is 195 units. For apartments, foreign organizations and individuals are allowed to own no more than 30% of the total number of apartments intended for living in the building, corresponding to 78 apartments.
According to the Hung Yen Provincial Department of Construction, investors are only allowed to sell houses to foreign organizations and individuals when they have been notified by competent state agencies that they are eligible, and must ensure the maximum quantity according to regulations.
All transactions of buying, selling, leasing, buying, and donating houses of foreign organizations and individuals exceeding the number owned according to the provisions of Article 19 of the Housing Law, or transactions in projects that foreign organizations and individuals are not allowed to own, have no legal value and are not granted Certificates by competent authorities.
In this case, the seller or lease-purchasing party of the house is responsible for compensating the buyer and lease-purchasing party for damages according to regulations.
