Detailed 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.
The policy on allowing foreigners to own houses associated with land in Vietnam has been studied and considered very carefully.
Multiple experts have expressed concern over the Ministry of Natural Resources and Environment’s proposal to double the land prices, as higher prices will result in higher land use fees for businesses and residents.
Ministry has proposed factories, including Rang Dong Light Source and Vacuum Flask JSC’s facility, where a fire broke out on August 28, make plans to relocate, away from residential areas to avoid similar incidents.
Prime Minister (PM) Nguyen Xuan Phuc has requested the Ministry of Natural Resources and Environment to conduct a nationwide inventory and mapping current land use status this year.
Ministry of Construction (MoC) in collaboration with Ministry of Natural Resources and Environment will complete regulations relating to condotel and officetel within 2019, its Minister Pham Hong Ha said at a recent meeting of the National Assembly.
Prime Minister Nguyen Xuan Phuc has asked the People’s Committees of Da Nang and Quang Nam to work with the Ministry of Natural Resources and Environment and the Ministry of Finance to devise measures to stabilize their local property markets, preventing the recent “chaos” as reported by the media.