Highlights of New Real Estate Business Law: Enhanced Home Buyer Protections, Reduced Dispute Risks
PolicyThe new Real Estate Business Law will enhance transparency and disclosure of project information, providing buyers with greater access to accurate and reliable data. This will strengthen consumer protection and mitigate the risk of disputes.
Major advances offered in new real estate business rules
PolicyThe Real Estate Business Law in Vietnam introduces significant amendments compared to its predecessor, with a particular emphasis on the rights and responsibilities of foreign investors.
The robust industrial real estate sector faces the impact of the global minimum tax
PolicyRecently, the Hanoi Tax Department issued a letter requesting businesses to inform their parent companies about the supplementary corporate income tax policy in accordance with the regulations on combating global base erosion and profit shifting (BEPS) in Vietnam from 2024, to determine whether the businesses are subject to Resolution 107/2023/QH15. Not only foreign-invested enterprises in Hanoi but also those in other localities such as Hai Phong, Thai Nguyen, etc., are also concerned and have proposed that the Ministry of Finance issue supporting policies.
Counter-cyclical fiscal policy recommended to continue in 2024
PolicyAccording to experts, in 2023, although there were still many difficulties in promoting economic growth, the positive effects of fiscal and monetary policies were shown.
VAT to be reduced by 2% from January 1
PolicyThe value-added tax (VAT) for most of goods and services will be cut by 2% from January 1, 2024.
“Significant” land division changes set
PolicyThe new regulations issued under the Real Estate Business Law to tighten land subdivision are hoped to have a strong impact on land plots nationwide.
Stock market development strategy approved
PolicyVietnam’s stock market is set to grow in a stable, safe, healthy, effective and sustainable fashion under a freshly-approved strategy.
New law clears path for foreign buyers
PolicyThe new Law on Housing passed by the National Assembly will bring positive changes related to housing ownership of foreigners in Vietnam when it comes into effect in 2025.
New real estate law to clean up conditions
PolicyThe new Real Estate Business Law, passed by the National Assembly in November and effective from 2025, could narrow the scope of regulation and tighten conditions for transferring real estate projects.
Dong Nai province considers to halt opening of more industrial parks
PolicyThe Southern Province of Dong Nai has been considering to halt opening of additional industrial parks in Bien Hoa Town and Long Thanh and Nhon Trach districts.
Newly issued Decree 25 unplugs bottlenecks for real estate projects
PolicyDecree No.25/2020/ND-CP (Decree 25) issued by the prime minister on February 28, 2020 has broken through the biggest obstacles facing real estate projects nationwide in land bidding and implementation.
More regulations needed to promote condotel market development
PolicyDetailed regulations are needed to promote a healthy condotel market, which has been going off-track for years due to an unclear legal framework, experts have said.
Vietnamese infrastructure policy earns investors’ thumbs-up
PolicyTo lure more foreign investment in infrastructure, Vietnam needs to have a clear public-private partnership (PPP) framework.
Credit quality of real estate sector continues to be controlled
PolicyMr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam-Ho Chi Minh City Branch (SBV-HCMC Branch), reported that the city’s banking industry’s capital mobilization nearly reached VND2.5 quadrillion last year.
Real estate credit under control
PolicyOutstanding loans for the real estate sector grew by 8.8% last year, below the banking sector’s credit growth of 13.7%, said Nguyen Quoc Hung, director of the Credit Department of the State Bank of Vietnam.
Ex-Danang leaders slapped long jail terms for illegal land transfers
PolicyFormer chairman of Danang City Tran Van Minh and his successor, Van Huu Chien, were sentenced to jail terms of 17 and 12 years, respectively, for their involvement in the acquisition of public land by Phan Van Anh Vu.
PM urges Ha Nam to make development breakthroughs
PolicyPrime Minister Nguyen Xuan Phuc on January 11 urged the northern province of Ha Nam to further carry forward its potential and advantages as a gateway of Hanoi capital city, and make breakthroughs in development.
Negligence blights Danang social housing project
PolicyLax management has been blamed for the failure of social housing in Danang City. Many social apartments are being sold or rent at commercial prices and low-income people can hardly afford them.
PM approves IT park establishment in Danang
PolicyThe prime minister has just signed a decision approving the establishment of an information technology park in Danang City, which is expected to be modeled after the United States’ Silicon Valley.
