Vietnam: What does the information on off-plan housing or building to be disclosed before being put on market include?
- What does the information on off-plan housing or building to be disclosed before being put on market in Vietnam include?
- What are the documents proving off-plan housing and buildings to be put on market in Vietnam?
- What are the state policies for real estate business in Vietnam?
- What are the state policies for real estate business in Vietnam?
What does the information on off-plan housing or building to be disclosed before being put on market in Vietnam include?
Under the provisions of Clause 3, Article 6 of the Law on Real Estate Business 2023, information on off-plan housing or building to be disclosed in Vietnam includes::
(1) Type; location, scale, construction schedule and uses of the real estate; information on the shared area if the real estate is an apartment of the apartment building, building or multipurpose building;
(2) The fundamental design included in the prefeasibility study report which has been duly appraised in accordance with regulations of the Construction Law; building permit, if required; notice of construction commencement date; documents on the prescribed acceptance testing of finished infrastructure facilities according to the project schedule; and, in case of an apartment of the apartment building or building used for multiple purposes, including for residence, documentary evidences of the acceptance testing of finished foundation in accordance with regulations of the Construction Law;
(3) Documents on LURs as prescribed in clause 2 Article 24 of this Law, including:
+ Land allocation decision;
+ Land lease decision and contract for lease of LURs as prescribed by the Land Law;
+ Decision on approval of land repurposing;
+ Certificate of LURs;
+ Certificate of housing ownership and residential LURs;
+ Certificate of LURs and ownership of housing and other property on land;
+ Another certificate of LURs and ownership of property on land as prescribed by the Land Law.
(4) Agreement on grant of guarantee for sale or lease purchase of off-plan housing;
(5) Certification given by a competent authority that the off-plan housing meets conditions for sale or lease purchase;
(6) Limitations on ownership or rights to use the real estate (if any); mortgage of housing, building or building’s floor area, LURs or real estate project to be put on the market.
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What are the documents proving off-plan housing and buildings to be put on market in Vietnam?
Under the provisions of Article 24 of the Law on Real Estate Business 2023, the documents proving off-plan housing and building to be put on market in Vietnam include:
One of the following documents on LURs is available:
+ Land allocation decision;
+ Land lease decision and contract for lease of LURs as prescribed by the Land Law;
+ Decision on approval of land repurposing;
+ Certificate of LURs;
+ Certificate of housing ownership and residential LURs;
+ Certificate of LURs and ownership of housing and other property on land;
+ Another certificate of LURs and ownership of property on land as prescribed by the Land Law.
The following documents are available:
- Permit to build the housing or building and application for such permit, in case such permit is required in accordance with regulations of the Construction Law;
- Notice of construction commencement date and design dossier of the housing or building in case the building permit is not required in accordance with regulations of the Construction Law;
- Documents on the acceptance testing of finished infrastructure facilities according to the project schedule, as prescribed by the Construction Law; in case of an apartment of the apartment building or building used for multiple purposes, including for residence, documentary evidences of the acceptance testing of finished foundation in accordance with regulations of the Construction Law.
What are the state policies for real estate business in Vietnam?
Under the provisions of Article 7 of the Law on Real Estate Business 2023, the state policies for real estate business in Vietnam are specified as follows:
- The State encourages organizations and individuals of all economic sectors to invest and engage in real estate business in conformity with the national and local socio-economic development objectives set out in each period.
- The State encourages and provides organizations and individuals with incentive policies for investment in social housing and real estate projects given investment incentives.
- The State shall invest in, and encourage organizations and individuals to make investments in, technical infrastructures outside the project perimeter; assist in the construction of technical infrastructures within the perimeters of real estate projects given investment incentives.
- The State shall invest in, and encourage organizations and individuals to make investments in, urban public utility works and social infrastructure works within the scope of real estate projects.
- The State shall adopt policies for regulating the real estate market to ensure its healthy, safe and sustainable growth.
- The State shall adopt policies for facilitating non-cash payment for real estate transactions.
- The State encourages the conduct of sale and purchase, transfer, lease, sublease and lease purchase of housing, buildings, and LURs through the real estate trading floor.
What are the state policies for real estate business in Vietnam?
Under the provisions of Article 7 of the Law on Real Estate Business 2023, the state policies for real estate business in Vietnam are specified as follows:
- The State encourages organizations and individuals of all economic sectors to invest and engage in real estate business in conformity with the national and local socio-economic development objectives set out in each period.
- The State encourages and provides organizations and individuals with incentive policies for investment in social housing and real estate projects given investment incentives.
- The State shall invest in, and encourage organizations and individuals to make investments in, technical infrastructures outside the project perimeter; assist in the construction of technical infrastructures within the perimeters of real estate projects given investment incentives.
- The State shall invest in, and encourage organizations and individuals to make investments in, urban public utility works and social infrastructure works within the scope of real estate projects.
- The State shall adopt policies for regulating the real estate market to ensure its healthy, safe and sustainable growth.
- The State shall adopt policies for facilitating non-cash payment for real estate transactions.
- The State encourages the conduct of sale and purchase, transfer, lease, sublease and lease purchase of housing, buildings, and LURs through the real estate trading floor.
Law on Real Estate Business 2023 will come into force from January 1, 2025.
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