Article 57 of the 2023 Housing Law stipulates the development of multi-storey, multi-apartment housing for individuals (also known as mini-apartments) for sale, lease-purchase, or rent. Accordingly, individuals who want to build mini-apartments (houses with 2 or more floors, each floor has apartments, or 2 or more floors and a scale of 20 apartments or more) for sale or lease must meet the conditions for being investors in housing construction projects. Apartments that are eligible for a certificate under the land law (pink book) can be sold, leased, or lease-purchased according to the provisions of this law and the law on real estate business. In addition, investing in mini-apartments for lease must meet the construction requirements issued by the Minister of Construction. The building must meet the requirements on fire prevention and fighting (PCCC) according to the provisions of law.

From August 1, mini apartments will be granted pink books when meeting fire prevention and fighting requirements and many other regulations. Photo: Hong Khanh

In addition, it is necessary to meet the conditions prescribed by the Provincial People's Committee on traffic routes for fire fighting vehicles to perform firefighting tasks at places with mini apartments. From a legal perspective, the regulations on the development of mini apartments and the granting of certificates for this type have been amended to be more stringent than before. Mr. Pham Duc Toan, General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property), assessed that the regulation that mini apartments are granted pink books in the Housing Law 2023 will have a positive impact on the psychology of many people who are using apartments with the desire that their property is recognized by law. According to Mr. Toan, the regulation that individuals who want to build mini apartments must meet the conditions of being investors in housing construction projects has tightened management of investment in this type such as the construction of commercial apartments. Along with that, the requirements on fire prevention and fighting... will solve previous shortcomings. However, according to Mr. Toan, there needs to be strict management by management agencies. Because, if not managed well, it can create the first wave of mini apartments, causing distortions for this type of real estate. According to preliminary statistics, the whole country currently has about 10,000 mini apartments, mainly concentrated in Hanoi and Ho Chi Minh City. Source: https://vietnamnet.vn/dieu-kien-de-chung-cu-mini-duoc-cap-so-hong-tu-1-8-2301897.html