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Official Gazette

Monday, October 21, 2019
Tags: Apartment buildings
Management of apartment building maintenance funds clarified Management of apartment building maintenance funds clarified
The Ministry of Construction has publicized a draft circular on the Regulation on the management and use of apartment buildings, requiring each apartment building maintenance fund to have three to five account co-holders.
House ownership by foreigners in Vietnam House ownership by foreigners in Vietnam
Under Vietnam’s law, foreign organizations and individuals may own houses, including apartments and private houses, built under commercial housing investment projects in areas where they are allowed to own homes.
Official Gazette issues Nos 10-12 February 2017 issued on May 16 2017 Official Gazette issues Nos 10-12 February 2017, issued on May 16, 2017
Loans poured into real estate sector to be tightened Loans poured into real estate sector to be tightened
In order to tighten lending for real estate projects, the State Bank of Vietnam (SBV) recently revealed a draft circular amending Circular No. 36 issued in 2014, on prudential ratios of credit institutions and foreign bank branches.
Apartment buildings to be classified into three categories Apartment buildings to be classified into three categories
In the coming time, apartment buildings put into use from July 1, 2015, would be classified into categories A, B and C.
Foreigners may own thirty percent of apartments in a building Foreigners may own thirty percent of apartments in a building
From December 10, foreigners may own up to 30 percent of the total number of apartments in an apartment building.
Guarantees for housing projects: what risks for bondsmen? Guarantees for housing projects: what risks for bondsmen?
Under the Law on Real Estate Business, before selling or granting hire-purchase of a future house, the project owner imust sign a guarantee contract with a commercial bank to secure the refund to the customer of an advance of a percentage of the contract price and all other amounts in case of the owner’s failure to hand over the house to the customer according to an undertaken schedule.
Old condominium reconstruction projects opened to foreign investors Old condominium reconstruction projects opened to foreign investors
Wholly foreign-owned enterprises, joint-venture companies with foreign investors and overseas Vietnamese businesses would be permitted to implement projects to reconstruct old apartment buildings.
Guidelines for the Construction Law to be shortly issued Guidelines for the Construction Law to be shortly issued
The Ministry of Construction is working on six draft decrees guiding the Construction Law, which will come into force from January 1 next year.
Nine solutions proposed to revive real estate market Nine solutions proposed to revive real estate market
The Ministry of Construction has recently sent to the Prime Minister for consideration a strategy for real estate market development, which sets forth nine solutions regarding legal framework and real estate registration system improvement and foreign capital attraction.

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