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.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Đề xuất người mua nhà trên giấy được hưởng lãi từ 5% tiền đợt cuối
Read the original on VnExpress ↗
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Related tickers and likely impact
DIG
▼ Likely negativeDIC Corp
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 8,611 bn VND |
| P/E | 11.2 |
| P/B | 0.86 |
| Close on 10/21/2026 | 10.20 |
| Change that session | +6.47% |
DXG
▼ Likely negativeBluemarq Group
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 13,379 bn VND |
| P/E | 69.6 |
| P/B | 0.94 |
| Close on 10/21/2026 | 10.55 |
| Change that session | +2.93% |
NLG
▼ Likely negativeNam Long Investment
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 11,084 bn VND |
| P/E | 18.0 |
| P/B | 0.89 |
| Close on 10/21/2026 | 22.85 |
| Change that session | +6.78% |
PDR
▼ Likely negativePhat Dat Real Estate
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 11,974 bn VND |
| P/E | 19.5 |
| P/B | 0.95 |
| Close on 10/21/2026 | 12.00 |
| Change that session | +5.73% |
VHM
▼ Likely negativeVinhomes
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 507,676 bn VND |
| P/E | 6.4 |
| P/B | 1.93 |
| Close on 10/21/2026 | 61.80 |
| Change that session | +6.92% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- 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.
- 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.
- National Assembly deputy: Developers should be allowed to receive property deposits earlier
National Assembly deputy Bùi Xuân Hải proposes letting property developers collect deposits on future properties earlier, once basic legal procedures are completed, including investment policy approval, a 1/500 detailed planning approval and a construction permit, rather than waiting until construction begins. The current draft Law on Real Estate Business keeps the 5% deposit cap and requires that the project has started construction or holds construction documents, which he considers unreasonable. He suggests placing deposits in blocked bank accounts to protect buyers and tightly controlling cash flows among companies within the same ecosystem. The Banking Association and Vingroup have also proposed earlier deposit collection, while deputy Phạm Hùng Hưng calls for mandatory notarization of future property deposit contracts.
- Deputy proposes letting developers collect property deposits earlier
Deputy Bùi Xuân Hải proposed letting developers collect the 5% deposit on future real estate earlier, once basic legal steps are complete, including investment policy approval, 1/500 detailed planning approval and a construction permit, rather than waiting until construction starts. He suggested holding the deposits in a blocked bank account to protect buyers and called for tight control of cash flows among affiliated companies. The Banking Association and Vingroup also proposed earlier deposit collection, while deputy Phạm Hùng Hưng called for mandatory notarization of these deposit contracts to prevent one unit being sold to several buyers or deposits being misappropriated.
- '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.
- Government proposes adjusting land price tables once every three years
The Government proposes amending the Land Law so that land price tables and the price adjustment coefficient (K), set by provincial People's Councils, are revised once every three years instead of annually. The draft removes specific land price rules and price advisory bodies, with the State setting prices under principles of honesty, objectivity, openness and transparency. Land price tables and K coefficients would be applied uniformly for budget land revenue, auction starting prices, compensation for land recovery, and related taxes and fees. The draft also allows recovery of abandoned land, such as agricultural land left unused for more than 24 months after an administrative penalty, or project land unused for over 60 months. The draft has 3 chapters and 112 articles, 148 fewer than the current law, and is scheduled for a National Assembly vote on 21 November.
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