What are procedures for purchasing commercial housing as official residences in Vietnam? How is the selling price determined?
How to determine the selling price of commercial housing as official residences in Vietnam?
First of all, the definition of commercial housing and official residence is specified in Clauses 4 and 5, Article 3 of the 2014 Law on Housing of Vietnam as follows:
- Commercial housing means any house which is built for sale, lease, or lease purchase according to market mechanism.
- Official residence means any house rent by entities entitled to live in official residences as prescribed in this Law over the duration in which they are on duty.
Pursuant to Clause 3, Article 30 of the 2014 Law on Housing of Vietnam stipulating the selling price of commercial housing as official residences as follows:
Buying or renting commercial housing for official residences
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3. The selling price of the commercial housing shall be decided by the person in charge of investment decision refer to market selling prices of housing and price appraisal of the appraising agency on the date on which the housing is sold.
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Thus, the selling price of the commercial housing shall be decided by the person in charge of investment decision refer to market selling prices of housing and price appraisal of the appraising agency on the date on which the housing is sold.
What are procedures for purchasing commercial housing as official residences in Vietnam? How is the selling price determined?
What are the regulations on the purchase of commercial housing as official residences in Vietnam?
Pursuant to Clauses 1 and 2, Article 24 of Decree 99/2015/ND-CP stipulating the purchase of commercial houses as official residences, specifically as follows:
- If the existing commercial houses in the area is not adequate and there are commercial houses whose quality, type and standards are suitable for being used as official residences according to regulations of law on construction, the competent authorities mentioned in Clause 2 Article 28 of the 2014 Law on Housing of Vietnam may purchase them as official residences.
- Commercial housing shall be purchased as official residences as follows:
+ If the houses/apartments are intended to be rented by central agencies (except for those mentioned in Point d Clause 1 Article 32 of the 2014 Law on Housing of Vietnam), the Ministry of Construction shall cooperate with the Ministry of Finance in planning the project and submit it to the Prime Minister for approval or approves it themselves if authorized by the Prime Minister;
+ If the houses/apartments are intended to be rented the entities mentioned in Point d Clause 1 Article 32 of the 2014 Law on Housing of Vietnam, the Ministry of National Defense or the Ministry of Public Security shall plan the project, reach an agreement with the Ministry of Construction, the Ministry of Finance, the Ministry of Planning and Investment before submit it to the Prime Minister for approval; after the Prime Minister grants an approval, the Ministry of National Defense or the Ministry of Public Security shall ratify the housing purchase project;
+ If the houses/apartments are intended to be rented by local entities, the Department of Construction shall cooperate with the Department of Finance of the province in planning the project and submit it to the People’s Committee of the province for approval;
+ The project for purchase of commercial housing as official residences shall specify the locations, types and quantity of houses/apartments, usable area of each type, prices, relevant costs, capital sources, methods of payment, contracting agency, managing agency, and responsibilities of relevant agencies for the project execution.
What are procedures for purchasing commercial housing as official residences in Vietnam?
According to the provisions of Clause 3, Article 24 of Decree 99/2015/ND-CP, the procedures for purchasing commercial housing as official residences are as follows:
(1) Depending on the approved project content, the agency appointed as investor in the purchase project shall conclude a house purchase contract with the investor in the housing construction project in accordance with regulations on trade in commercial housing;
(2) According to the concluded house purchase contract, the investor in the housing construction project shall transfer the houses/apartments and provide related legal documents to the buyer;
(3) After receiving the houses/apartments, the investor in the purchase project shall manage and lease them out in accordance with the Law on Housing and this Decree;
(4) The Investor in the commercial housing construction project shall follow procedures for obtaining the Certificates for the buyer. In the case mentioned in Point a Clause 2 Article 24 of Decree 99/2015/ND-CP, the Ministry of Construction, the Ministry of Construction shall be the holder of the Certificates.
In the case mentioned in Point b Clause 2 Article 24 of Decree 99/2015/ND-CP, the Ministry of National Defense shall be the holder of the Certificates of the houses/apartments purchased by the Ministry of National Defense, the Ministry of Public Security shall be the holder of the Certificates of the houses/apartments purchased by the Ministry of Public Security. In the case mentioned in Point c Clause 2 Article 24 of Decree 99/2015/ND-CP, the People’s Committee of the province or the Department of Construction (if authorized by the People’s Committee of the province) shall be the holder of the Certificates.
Procedures for issuance of Certificates to the authorities mentioned in this Point shall comply with regulations of law on land.
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