Commentaries | May 24,2025
Jul 1 , 2025
Federal lawmakers have passed the bill permitting foreign nationals to own residential property, with amendments addressing constitutional concerns raised during earlier debates.
The final version of the bill, approved with four abstentions, limits foreign ownership to a single residential property, scaled back from the initially proposed five. The amendment comes after MPs argued that broader provisions for foreign ownership of "immovable property" conflicted with Article 40 of the Constitution, which declares land as public property.
Foreign nationals will be allowed to lease land and own one house for residential purposes, which may be occupied or rented, but cannot be sold. The law maintains the 150,000 dolllar minimum investment requirement, though a directive will introduce flexibility for regional cities.
Supporters of the bill argue that the measure could stimulate the housing sector and benefit local real estate developers, while critics warn it may further strain urban housing access and affordability.
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