The Win City: What Foreign Buyers Should Check Before Investing in Duc Hoa Dong Duc Hoa Long An

Updated: October 2024

Yes, foreigners can legally purchase apartments at The Win City in Duc Hoa, Long An, provided they comply with ownership limits defined under the Housing Law 2023 (Law No. 27/2023/QH15) and Decree 95/2024/ND-CP. As a foreign individual or organization, you are legally entitled to purchase up to 30% of the total units in any single apartment building, with an ownership term of 50 years, renewable upon expiration.

Why does the location in Long An matter for foreign buyers?

The Win City is located in Duc Hoa Dong, Duc Hoa, Long An, situated directly on Provincial Road 10 (Tran Van Giau). This site functions as an industrial-corridor investment rather than a central luxury play.

• Tenant Profile: Demand is driven by local Vietnamese households and industrial workers in the surrounding 2,000-hectare industrial zone network, rather than international expatriates.
• Capital Growth: Your returns depend on the westward expansion of Greater Ho Chi Minh City’s infrastructure and the migration of manufacturing labor to Long An.
• Liquidity: Resale strategies must prioritize local buyers, as selling to a Vietnamese national converts the property title to a permanent freehold, significantly increasing its market value and ease of disposal.

What is the scale and planning of The Win City?

Developed by Thang Loi Group, the project occupies a 12-hectare site featuring 18 residential towers totaling approximately 10,000 apartment units. The developer maintains a 40% building density, leaving 60% of the land for community facilities and landscape.

• Project Status: Units currently range in size to cater to the mid-market segment. Prospective investors should verify the construction status of specific towers, as handover schedules significantly impact your immediate rental yield.
• Integrated Amenities: The project features an "One Stop Living Hub" including retail outlets, educational facilities, and healthcare centers. These are essential for maintaining high tenant occupancy rates in a high-density development of this scale.

How does the foreign ownership process work under the 2024 regulations?

Under the Housing Law 2023 and Decree 95/2024/ND-CP, foreign investors must execute a Sale & Purchase Agreement (SPA) directly with the developer.

• Quota Management: Foreign ownership is capped at 30% of units per tower. You must request written confirmation from the developer verifying that your unit falls within this legal foreign quota before signing the SPA.
• Financial Compliance: You must transfer funds from an overseas bank account into a designated investment account in Vietnam. Keep all receipts, as proof of legal capital inflow is mandatory for the future repatriation of sales proceeds.
• Multilingual Support: This project documentation is available in English for international investors. For non-English speakers, additional translated materials can be provided to ensure full understanding of the legal obligations.

How should you approach rental and exit strategies?

With 10,000 units in the master plan, supply-side competition for tenants is a primary risk factor for investors.

• Yield Modeling: Base your projections on a conservative 4%–6% gross annual yield. Deduct 10% for management fees, 5% for potential vacancy, and local administrative taxes to determine your actual net cash flow.
• Physical Due Diligence: Since the project is in the active handover phase, do not rely on digital brochures. Conduct a physical inspection—or hire a local agent to do so—to verify plumbing, electrical safety, and interior finishing standards.
• Exit Strategy: Maintain a clean, chronological paper trail of your SPA, tax receipts, and bank transfer records. A clear financial history is the most critical requirement for a successful, tax-compliant exit when you sell your unit to a local buyer.

Sources

• Law on Housing No. 27/2023/QH15 (Housing Law 2023).
• Decree No. 95/2024/ND-CP guiding the implementation of the Housing Law.
• Official project disclosures, Thang Loi Group.

Reviewed by Nguyen Minh Duc, licensed Vietnamese real-estate attorney specializing in foreign investment law.