03 Laws on Real Estate which comes into force in Vietnam from August 1, 2024

03 Laws on Real Estate which comes into force in Vietnam from August 1, 2024

The Law Amending the Land Law, Housing Law, Real Estate Business Law, and Credit Institutions Law 2024 amends and supplements several articles of the Land Law 2024 as follows:

- Amends and supplements Clause 2, Article 251 to abolish Resolution 132/2020/QH14, piloting some policies to remove obstacles and backlogs in the management and use of defense and security land in combination with production, labor, and economic construction activities from January 1, 2025.

- Amends and supplements Clause 1, Article 252 of the Land Law 2024 effective from August 1, 2024, except as provided in Clauses 2 and 3 of this Article.

- Amends and supplements Clause 10, Article 255 of the Land Law 2024 towards projects falling under the case of land allocation, land lease without auction of land use rights as prescribed by the Land Law 2013, relevant laws and in accordance with the land use planning, which have not been allocated or leased land, shall continue to follow the next steps in the process, procedures for land allocation, land lease to allocate or lease land to investors as prescribed by this Law if they fall into one of the following cases: Projects that have selected investors according to the provisions of the laws on investment, housing, and bidding from July 1, 2014, to before August 1, 2024; Projects where investors have submitted valid dossiers to carry out investor selection procedures before August 1, 2024, and have selected investors before January 1, 2025...

Additionally, the Law also amends and supplements Clause 1, Article 197 of the Housing Law 2023; amends and supplements Clause 1, Article 82 of the Real Estate Business Law 2023; and amends and supplements Clause 2, Article 209 of the Credit Institutions Law 2024, which all comes into force in Vietnam from August 1, 2024.

More details can be found in the Law Amending the Land Law, Housing Law, Real Estate Business Law, and Credit Institutions Law 2024, which comes into force in Vietnam from August 1, 2024.

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