Vietnam: Guidelines for buying and selling car parking spaces in apartment buildings

According to Clause 1 Article 8 of the Regulation (enclosed with Circular No. 02/2016/TT-BXD of the Ministry of Construction of Vietnam): Parking lot may be located at basement floor or ground floor or in other areas inside or outside an apartment building and should be specified in the purchase and lease purchase contract.

According to Point c Clause 4 Article 8 of the Regulation, purchase or lease of auto parking spaces may be specified in the apartment purchase and lease purchase contract or in a separate contract, of which terms will be agreed upon by the parties involved, specifically as follows:

- The parking rental fee can be paid monthly or periodically, while the purchase fee for parking spaces can be paid in one lump sum or in installments, according to the agreement between the parties.

- In the case of renting parking spaces, the responsibility for paying management and operation fees, as well as parking surveillance fees, will be determined in the parking space rental contract.

- In the case of purchasing parking spaces, the buyer is responsible for paying management and operation fees, as well as parking surveillance fees, as stipulated by law and agreed upon with the service provider.

Also according to this Regulation, if a parking space buyer needs to transfer or rent out this parking space, such transfer or rent out is only be made with owners or occupants of such apartment buildings or with the investor.

According to the Ministry of Construction, the issuance of the Certificate of Land Use Right for car parking spaces, as well as the recording in the certificate and the procedures for registering changes when buying or selling car parking spaces, is not regulated by the housing law but is carried out according to the provisions of the Land Law 2013 and relevant implementing guidelines.

The above is the complete explanation provided by the Ministry of Construction in Official Dispatch No. 217/BXD-QLN dated September 26, 2018.

- Thuy Phu -

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