On the afternoon of August 5, at the regular Government press conference in July, Deputy Minister of Construction Bui Xuan Dung shared new points in the documents guiding the implementation of the Law on Real Estate Business, the Law on Housing, and the Law on Land.
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| On June 29, the National Assembly passed the Law amending a number of articles of the Land Law, Housing Law, Real Estate Business Law and Credit Institutions Law. (Photo: Linh Chi) |
According to Deputy Minister of Construction Bui Xuan Dung, on June 29, the National Assembly passed the Law amending a number of articles of the Land Law, the Housing Law, the Real Estate Business Law and the Law on Credit Institutions. In which, the Housing Law and the Real Estate Business Law are amended and supplemented, and will take effect from August 1.
To date, the Government, the Prime Minister and the Ministry of Construction have issued 5 decrees, 1 decision and 2 circulars under the authority of the Ministry of Construction detailing and guiding the implementation of the Housing Law and the Law on Real Estate Business, all of which will take effect from August 1, 2024.
Thus, the promulgation of legal documents guiding the implementation of the Law on Real Estate Business and the Law on Housing has promptly ensured implementation progress and will take effect from August 1, 2024.
Deputy Minister Bui Xuan Dung said that there are some new things affecting the real estate market.
Firstly, the Housing Law as well as the Real Estate Business Law have overcome the shortcomings and overlaps between legal regulations related to investment, land, housing, real estate business, and construction; creating a clear and transparent legal corridor for implementation, while the guiding decrees have clearly stipulated the procedures for implementing projects in the direction of simplifying procedures and shortening the implementation time of these projects.
The 2023 Housing Law has been amended and supplemented with a number of regulations on the development of commercial housing, social housing, resettlement housing, and individual housing to create favorable conditions for organizations, businesses, and individuals to participate in development in Vietnam.
In particular, it is necessary to supplement the provisions on the stages of housing investment projects such as Article 34 of the Housing Law. At the same time, Decree 95/2024/ND-CP of the Government also clearly stipulates the stages of investment in housing construction projects, the order of project implementation in the direction of simplifying procedures, shortening project time to ensure convenience for organizations, businesses and individuals participating in housing development.
Regarding social housing development, it is especially clear that the responsibility for allocating land for housing development is the responsibility of local authorities according to Article 83 of the Housing Law.
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| Deputy Minister of Construction Bui Xuan Dung at the regular Government press conference in July 2024. (Photo: Nhat Bac) |
Second , reduce the regulations on residence conditions, the subjects buying and renting social housing only have one condition on income. For social housing subjects, the conditions of residence and income are not determined, just need to be the right subject.
Third, the investor is exempted from land use rights and land lease rights for the entire project area without having to carry out procedures to determine land prices, land use rights, and land taxes are exempted according to the provisions of the Land Law, and is entitled to a maximum profit of 10% and the preferential social housing area is up to 2% of the total land area or 2% of the total construction floor area of the project for construction of commercial services and commercial housing.
Fourthly , workers and armed forces are entitled to separate policies on accommodation for workers in industrial zones and housing for armed forces according to Article 80 of the Housing Law.
In the Law on Real Estate Business 2023, legal documents also directly stipulate, guide implementation and clearly stipulate the types of real estate products and projects put into business, publicize information about real estate, real estate projects put into business according to the provisions of Decree 94/2024/ND-CP on conditions for organizations and individuals doing real estate business.
The Deputy Minister of Construction informed that in August and September, the Ministry of Construction and specialized agencies will disseminate laws, especially the Decrees effective from August 1 on procedures, the Housing Law, the Real Estate Business Law effective from August 1, to 63 provinces and cities in the Northern, Central and Southern regions to bring the Law and Decrees into life and promote the stable, healthy and transparent development of the real estate market.
Source: https://baoquocte.vn/nhung-diem-moi-noi-bat-cua-luat-kinh-doanh-bat-dong-san-luat-nha-o-luat-dat-dai-281449.html
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