Apartment with complete legal documents: More opportunities, less risks

According to the records of leading real estate market research companies in Vietnam today, the Ho Chi Minh City apartment market in 2024 will close with the opening of projects such as The Opus One (Samty), Kieu by Kita (KITA Group) and King Crown Infinity (BCG Group) with about 3,000 apartments. This not only strengthens market confidence but also opens up opportunities for strong development in the coming years. A representative of Avison Young Vietnam commented that the apartment market in 2025 continues to expect many improvements thanks to completed infrastructure and legal clarity.

In that context, it is easy to understand why apartment projects with completed legal procedures, granted pink books, complete investment, and clear handover time are becoming the optimal choice, especially in the high-end real estate segment.

A study by Ho Chi Minh City University of Economics (UEH) on factors affecting individual customers' decisions to buy apartments in Ho Chi Minh City, recently published, shows that legality is the factor that has the strongest impact on customers' decisions.

With transparent legality, buyers have full rights to use, buy, sell, mortgage or transfer without having to wait for lengthy procedures. The value of the property is also preserved and increased thanks to high liquidity, easy trading or leasing at attractive prices. Moreover, owning a pink book from the beginning helps investors be more proactive in financial plans, flexibly rotating capital without being bound by legal obstacles, and the value of the apartment is also higher.

In the context of the Ho Chi Minh City real estate market still having nearly 38,000 unregistered apartments, owning a property with complete legal documents and a pink book in hand becomes a decisive factor for buyers.

According to real estate experts, normally, housing projects that want to be granted pink books for each unit must go through a very long journey, meeting many mandatory legal conditions such as financial obligations, including land use fees, taxes and related fees. In addition, the project must have full legal status on land use rights, planning, and usage functions - something that does not always go smoothly.

In addition, construction must comply with the permit, not violating density, height or function is also an important factor. Even when completed, the project must undergo a strict acceptance process for safety and fire prevention. Many projects have been stalled due to disputes between investors and residents, or have been stuck in mortgage release procedures when parts of the project have been mortgaged to banks.

Only when all of the above conditions are met can a project be granted a pink book. In general, for an apartment to have a pink book depends a lot on the financial potential of the investor and the transparency in the project implementation process.

In fact, many customers in recent years have been in trouble because they bought apartments that had not been granted a certificate. Buying and selling is difficult because many people are afraid to transact with apartments that do not have complete documents. In many cases, the waiting time for the pink book lasts for years, making the homeowner passive, unable to actively turn around capital or carry out investment plans as desired.

Typically, at the luxury apartment project Kieu by KITA in District 5 invested by KITA Group, all 82 apartments have been completed by the investor with all legal procedures, ensuring that each apartment has its own pink book, ready to hand over the house and pink book immediately to the buyer. A representative of KITA Group said that with the strategy of developing real estate projects with clear legal status, providing smart solutions, green and modern spaces, the Kieu by KITA project is attracting the attention and choice of many customers.

Regarding the removal of difficulties in granting certificates of land use rights and ownership of assets attached to land for commercial housing projects in the area, the Department of Natural Resources and Environment of Ho Chi Minh City said that the city has established a working group to monitor, urge, and inspect the progress of removing difficulties and obstacles and comprehensively assess the development situation as well as the work of granting certificates at commercial housing development projects in the city from the time the project is licensed for investment and construction until the completion and acceptance of the project into use, and the issuance of certificates related to the work of granting certificates at commercial housing projects... Up to now, difficulties and obstacles have been removed for 41/66 projects with 27,575/37,214 apartments/houses/land plots/officetels. It is expected that in 2025, about 38,000 units will continue to be processed.

In the near future, experts from Avison Young Vietnam believe that with the support of infrastructure and technology, the mid-range and high-end apartment segment is expected to continue to grow, especially in large cities such as Ho Chi Minh City, Hanoi and Da Nang. Foreign investors are increasingly interested in the Vietnamese market thanks to its potential for increasing value and sustainable profits.

In addition, the model of complex urban areas integrating housing, commerce, entertainment and education will become the main development trend, bringing outstanding added value. In addition, with the support of the Government in legal reform and investment licensing, the Vietnamese apartment real estate market is expected to achieve stable and attractive growth in the long term.

Source: https://doanhnghiepvn.vn/kinh-te/can-ho-hoan-thien-phap-ly-them-co-hoi-bot-rui-ro/20250219110633496