On August 5th, at the regular government press conference for August 2024, Deputy Minister of Construction Bui Xuan Dung stated that, to date, the Government, the Prime Minister, and the Ministry of Construction have issued 5 decrees, 1 decision, and 2 circulars under the authority of the Ministry of Construction, providing detailed regulations and guidance for the implementation of the Housing Law and the Real Estate Business Law.
Thus, the issuance of guiding documents for the implementation of the two laws was timely, ensuring progress, implementation, and effectiveness from August 1, 2024.
Several new developments have impacted the real estate market. The Housing Law, effective from August 1st, addresses overlapping and inconsistent regulations related to investment procedures, land, housing, real estate business, and construction, creating a clear and transparent legal framework for implementation. Simultaneously, guiding decrees clearly define project implementation procedures, simplifying processes and shortening project timelines.
The 2023 Housing Law has been amended and supplemented with several regulations on the development of commercial housing, social housing, resettlement housing, and individual housing to create favorable conditions for organizations, businesses, and individuals to participate in the development of projects, especially by adding regulations on the stages of housing investment projects as in Article 34 of the Housing Law; at the same time, Government Decree 95/ND-CP of 2024 has clearly stipulated the stages of investment in housing construction projects; the procedures for implementing projects have been simplified and the time has been shortened.
Regarding the development of social housing, regulations clearly define the responsibility of allocating land to localities; and reduce residency requirements for those renting or purchasing social housing, leaving only one income requirement.
The investor is exempt from land use fees and land lease fees for the entire land area of the project. Furthermore, the investor is not required to go through the procedures for determining land prices, calculating the exempted land use fees and land lease fees, and is not required to apply for exemption from these fees.
With the 2023 Law on Real Estate Business, the detailed regulations and implementing guidelines clearly define the types of real estate products and projects that can be put into business, the public disclosure of real estate information; and the conditions for application to organizations and individuals engaged in real estate business…
In August and September, the Ministry of Construction and relevant agencies will coordinate the dissemination of laws and decrees effective from August 1st to all 63 provinces and cities nationwide to bring these laws and decrees into practice and promote the transparent and healthy development of the real estate market.
Source: https://kinhtedothi.vn/thuc-day-thi-truong-bat-dong-san-phat-trien-minh-bach.html
