National Assembly spends full day debating three draft laws on land, housing and real estate

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• 'Firms That Have Not Fully Paid Land Fees Should Be Allowed to Transfer Stalled Projects'

  Nguyễn Thị Việt Nga, deputy head of the Hải Phòng delegation to the National Assembly, proposed letting businesses that have not fully paid land fees transfer unfinished projects, so frozen resources can return to the economy. Draft Article 30 of the amended Real Estate Business Law requires investors to complete land financial obligations before transferring all or part of a project. Nga agrees with the rule, which prevents debt write-offs through transfers, but says investors that lose or seriously weaken financial capacity need a solution, as stalled projects tie up land and credit. Her proposal allows the buyer to take over outstanding obligations, subject to the authority confirming the amount, the buyer proving financial capacity, and the balance being paid from the transfer price into the budget, with no debt write-off. Bùi Xuân Hải, rector of Hải Phòng University, backs a similar approach but asks for written commitments on deadlines for meeting obligations to the State.

  VnExpress·22/10, 05:47• VNINDEXreal estateVietnamregulation
• Prime Minister: High land prices have serious consequences for economic development

  Prime Minister Lê Minh Hưng said the State must manage and regulate land prices, since high real estate prices have serious consequences for economic development. Speaking to the National Assembly panel on the afternoon of October 22 about draft revisions to three laws on land, housing and real estate business, he said the draft Land Law would remove specific land price rules and let the State set prices under four principles, in line with Resolution 21. He argued that high land prices raise project costs and home prices, making it very hard to address housing for priority groups such as civil servants, workers, students and the armed forces. Under the draft Housing Law, which defines four housing categories, the State would prioritize social and rental housing, while commercial housing would follow market rules. The revised Land Law is expected to take effect in 2028.

  VnExpress·22/10, 11:31▼ DIG▼ DXG▼ DXS▼ HDCreal estatehousingVietnam
• Proposal to withhold 5% of bank-held home purchase payments until buyers get red books before paying developers

  Justice Minister Hoàng Thanh Tùng presented to the National Assembly on October 22 a draft amended Law on Real Estate Business with 10 chapters and 61 articles. Under the draft, developers could not collect more than 95% of contract value until buyers receive land-use right and property ownership certificates, and the remaining 5% would sit in an account at a credit institution, going to the developer only after certification or once the buyer agrees to handle the procedures; buyers would keep any interest earned. The draft would also let provincial People's Committee chairs approve transfers of all or part of projects that the Prime Minister approved in principle. The Economic and Financial Committee asked that the law set principles for managing the 5% and handling risks, and clarify the “voluntary” element.

  CafeF·22/10, 05:36• VNINDEXreal estateregulationhousing
• Amended Law on Real Estate Business: Seven business conditions and four administrative procedures cut

  The draft amended Law on Real Estate Business submitted to the National Assembly proposes cutting 4 of 12 administrative procedures and 7 business investment conditions. The draft has 10 chapters and 61 articles, 22 fewer than the 2023 law, and adds a real estate transaction framework and a mechanism placing the remaining 5% of future-property contract value in a blocked account or as agreed by the parties. It also expands the types of transferable contracts and lets provincial People's Committees approve transfers of whole or part of projects. The Committee for Economic and Financial Affairs supports the amendment but asks for refinements, including rules for managing the 5% sum and handling risks, clarification of the “voluntary” element in buyer-led certificate applications, and consideration of project transfers when developers lack capacity.

  CafeF·22/10, 04:55▲ DXG▲ DIG▲ DXS▲ KDHreal estateregulationVietnam
• Proposal to let off-plan home buyers earn interest on final 5% payment

  The government proposes moving the final 5% payment for future-formed homes into a guarantee account, with buyers entitled to any interest it earns. Under the draft amended Law on Real Estate Business submitted to the National Assembly on 22/10, the first instalment may be up to 30% of contract value, and sellers may not collect more than 95% until buyers receive their land-title certificate. The 5% is released to the developer only after buyers receive that certificate. The draft also allows homes other than apartments to be sold earlier once construction has begun and land and building papers are in place. The Committee for Economic and Financial Affairs asks for rules on managing the 5% and handling risks, clarification of the “voluntary” element, and a distinction between deposits and fundraising.

  VnExpress·22/10, 04:53▼ DIG▼ DXG▼ NLG▼ PDRreal estatehousingVietnam
• Social housing credit expands , but disbursement constrained by supplyvietnamnews.vn·19/10, 08:00• VNINDEXcredithousingreal estate

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