New Real Estate Regulations in Ho Chi Minh City
The Department of Construction of Ho Chi Minh City (HCMC) has mandated that real estate businesses and property developers operating within the city must publicly disclose transaction details for completed and future housing projects.
These disclosures must be made immediately after each transaction occurs. Quarterly reports, following the templates outlined in Decree No. 94/2024, are also required to ensure transparency and compliance.
Non-compliance with these regulations will result in penalties under Article 58 of Decree No. 16/2022. Additionally, businesses found transferring projects without proper procedures or misusing funds from buyers, tenants, or investors will face suspension of their real estate operations.
The Department emphasizes that real estate companies are prohibited from authorizing third parties to sign deposit, purchase, transfer, or lease agreements for properties within their projects. Developers must also notify the provincial real estate management authority before selling or leasing future housing units, confirming compliance with all legal requirements.
All real estate businesses are required to submit written reports to the Department of Construction at 60 Truong Dinh Street, Xuan Hoa Ward, HCMC. Once the Ministry of Construction’s housing and real estate market information system is operational, electronic data submissions will also be mandatory.
