Ho Chi Minh City Real Estate Association (HoREA) has just sent a document to the Ministry of Justice and the Ministry of Natural Resources and Environment recommending many solutions to implement the Land Law and related laws that will remove many problems in practice. practice so that land becomes a resource for socio-economic development and the real estate market develops safely and sustainably.
Accordingly, HoREA believes that 70% of the difficulties of real estate and housing project investors in recent times are due to legal problems. Therefore, according to Mr. Le Hoang Chau, Chairman of HoREA, piloting commercial housing projects through agreements on receiving land use rights or having land use rights on other land will promote development. The socio-economic and real estate market will soon develop sustainably.
A series of real estate projects in Ho Chi Minh City are facing legal problems.
Citing data from the Ministry of Construction, Mr. Chau said that by 2023, the country will have about 1,200 real estate and commercial housing projects facing problems (mainly legal). Among them, Ho Chi Minh City has more than 148 projects that are stuck, cannot be implemented, and cannot carry out construction investment procedures.
Therefore, the Prime Minister has decided to immediately remove problems with legal documents under the authority of the Government and the Prime Minister. For example, the promulgation of Decree 10/2023/ND-CP has initially created conditions for issuing pink books for about 100,000 condotel units; Promulgating Decree No. 12/2023/ND-CP basically removes obstacles in land valuation, land price appraisal, and land price determination to calculate land use fees and land rents for real estate projects. Real estate, commercial housing…
“Thanks to the active activities of working groups, the whole country has resolved obstacles and difficulties for about 100 real estate and housing projects,” Mr. Chau said.
However, currently some real estate and housing projects still encounter problems due to the provisions of the law. For example, Article 23 of the 2014 Housing Law and Article 127 of the 2024 Land Law stipulate that businesses can only agree to receive residential land use rights or have the right to use residential land or have the right to use residential land and other land. to implement commercial housing projects.
