The People’s Committee of Binh Dinh province has recently issued a document to the Department of Natural Resources and Environment and the Department of Construction to review Condotel projects and consider granting property ownership certificates (“red books”).
According to the document, the Chairman of the People’s Committee of Binh Dinh province assigned the Department of Natural Resources and Environment to coordinate with the Department of Construction and related agencies to review tourism apartment projects (Condotels) in the province and consider granting “red books” to eligible cases as per regulations.
The provincial leaders requested the units to synthesize and report their proposals to the People’s Committee before November 10, 2024.
The People’s Committee of Binh Dinh province requests relevant agencies to review Condotel projects and consider granting “red books” to eligible cases. Illustrative image. |
At the end of 2023, the Ministry of Natural Resources and Environment issued a document to the People’s Committees of provinces and centrally-run cities regarding solutions to remove obstacles, provide support, and promote the real estate market.
The document stated that, according to reflections from some localities and media outlets, many cases of tourism apartments (Condotels), resort villas (Resort villas), and apartment offices combining accommodation, commerce, and services (Officetels) have not been granted “red books.” This situation affects the legal rights and interests of related parties and hinders the development of the real estate market.
Therefore, the Ministry of Natural Resources and Environment requested the People’s Committees of provinces and centrally-run cities to direct relevant agencies to review, synthesize, and statistically analyze the number of cases of construction works belonging to real estate projects, such as tourism apartments, resort villas, and apartment offices combining accommodation, commerce, and services, that have not been granted certificates.
At the same time, they should instruct the implementation of granting “red books” to the above-mentioned apartment types following regulations. Synthesize and categorize projects that have not fully complied with or correctly implemented the provisions of the law on investment, construction, real estate business, and land.
This includes clarifying the responsibility and authority for resolution of each local agency to direct the implementation according to legal regulations. In cases where it is unclear or beyond their authority, they should report to the relevant ministries and sectors for consideration and resolution.
In addition, localities should synthesize and categorize projects with difficulties in implementing the provisions of the law on investment, construction, real estate business, and land. Clearly state the reasons for the difficulties, the responsibilities, and the authority for resolution of each ministry and sector, and propose solutions to remove these obstacles.
Lam Vy
The New Land Price List Adjustment’s Impact on Ho Chi Minh City
The recent land price adjustments in Ho Chi Minh City are a significant move, reflecting the city’s development and the need to adapt to the changing reality. Despite short-term challenges, the new land price list brings about a host of positive impacts. It lays the foundation for a sustainable real estate market, promoting transparency, fairness, and the city’s comprehensive development while addressing the current situation.
The Billion Dollar Question: Will Offshore Wind Power Blow Hot Air or Bring a Green Revolution to Vietnam’s Shores?
Foreign investors remain keen on Vietnam’s offshore wind power and are actively seeking opportunities to enter this field.
“The Murky Waters of Real Estate: A Delicate Dance of Uncertainty and Valuation”
At the 8th session of the 15th National Assembly on October 28, National Assembly deputies pointed out the inadequacies of the current real estate prices and urged the Government to continue implementing social housing policies for low-income earners.
The Local Real Estate Market: Where the Shortage Doesn’t Halt and the Surplus Doesn’t Sell.
“A thorough assessment of the local real estate markets is imperative to identify areas where there is a shortage of development and where there is an oversupply of properties that remain unsold.” This was one of the key messages conveyed by Deputy Prime Minister Tran Hong Ha during the Central Steering Committee meeting on housing policies and the real estate market, held on October 24th.
“Addressing the Soaring Property Prices: A Proposal to Tax Vacant Properties”
The Parliamentary Supervision Delegation recommends expediting the completion of research and proposing amendments and supplements to the tax laws. This includes the enactment of new legislation that introduces higher tax rates for individuals who occupy large land areas and own multiple residences, as well as for those who fail to utilize their land promptly or leave it abandoned.
