The draft resolution on piloting a number of special mechanisms and policies for developing social housing aims to attract businesses' investment in the construction of social housing and promote the development of this type of accommodation.
Prime Minister Pham Minh Chinh has signed to issue an official dispatch directing ministries, sectors, and localities to effectively implement the Land Law, Housing Law, and Real Estate Business Law, all of which came into force on August 1.
Prime Minister Pham Minh Chinh has signed to issue an official dispatch directing ministries, sectors, and localities to effectively implement the Land Law, Housing Law, and Real Estate Business Law, all of which came into force simultaneously on August 1.
The new Land Law, the Law on Real Estate Business, and the Housing Law should ease bottlenecks in the sector, helping improve supply and transparency in Vietnam’s real estate market.
Individuals with a monthly income not exceeding 15 million VND, or married couples with a combined income not exceeding 30 million VND, are eligible for social housing support policies.
Under the chair of Vice Chairman of the National Assembly (NA) Nguyen Duc Hai, the legislature on June 29 voted for approval of the Law on amendments and supplements to a number of articles of the Law on Land, the Law on Housing, the Law on Real Estate Business and the Law on Credit Institutions.
The Government on May 17 issued a Resolution approving the proposal to draft amendments to the Housing Law and the Real Estate Business Law, specifically Clause 1 of Article 197 and Clause 1 of Article 82, respectively.
The newly approved Land Law, Housing Law, and Law on Real Estate Business, which will take effect from 2025, are expected to create more favourable conditions for Overseas Vietnamese (OVs) in owning and trading real estate, according to experts.
Experts say the key to revitalizing the real estate market lies in the swift refinement of the legal framework, specifically through the issuance of detailed guidelines for laws, particularly the Land Law and the Real Estate Business Law.
With 433 out of the 472 participating deputies saying “yes”, the National Assembly (NA) approved the Housing Law (amended) at its sixth session on November 27 morning.
Foreigners have the right to own houses for a set period, but land ownership is not permitted. Once their ownership duration concludes, they may renew it once and have the privilege to purchase and sell houses similarly to local residents.
Prime Minister Pham Minh Chinh on April 10 chaired a Government’s law-building meeting focusing on the collection of public opinions on the draft Land Law (revised) to submit to the National Assembly (NA), and the absorption of the NA Standing Committee’s ideas on the draft Housing Law (revised).
The Ministry of Construction (MoC) has submitted a plan to build over 1.8 million apartments under a social housing scheme for low-income earners and workers in industrial zones (IZs) by 2030.
The legal corridor for social housing development has recently changed towards providing more incentives than it was first mentioned in the Housing Law in 2005.
The price growth rate of real estate will hit its peak in 2016, according to the Vietnam Market Outlook released recently by CB Richard Ellis Vietnam Co. Ltd. (CBRE) .
Savills Vietnam on October 27 announced the launch of its International Residential Sales and Leasing Department in Ho Chi Minh City intended to provide services for foreigners.
Foreigners buying or selling houses in Vietnam are required to carry out transactions through banks in the country and not in cash, the central bank has decreed.
