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What Are New Conditions on Real Estate Purchase and Sale in 2022?

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Real estate business activities have a great influence on socio-economic development. Accordingly, in order to ensure the legal framework for the current real estate business activities, the Government has issued Decree 02/2022/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Business (“Decree 02/2022/ND-CP”) in order to promptly amend and supplement inadequate regulations to be consistent with reality. In which, conditions for the transfer of contracts of purchase and sale, lease-purchase of houses and construction works are mentioned. The demand for the transfer of purchase and sale contracts, lease-purchase of houses, real estate, construction works on the market is at a high level, although there are no regulations on the transfer of contracts for the sale of non-residential real estate not to be formed in the future. Therefore, there is no legal basis to carry out these transactions in reality. Therefore, Decree 02/2022/ND-CP has had a number o...

Highlights in Real Estate Investment in Vietnam

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Vietnam is attracting interest of investors in both domestic and foreign market. Overall, investor confidence was returning to the Vietnam real estate market . Both buyers and sellers have enhanced activity in recent months. The real estate market of Vietnam has overcome the recession period within 4 or 5 years ago but in the last 12 months, the market has recovered and noted positive signs as well as confidence in the market in general. Law on housing and real estate business Law takes effect in July 2015 and has acted quickly and positively on the real estate market in Vietnam. The changes in the Law on housing have significantly eased the regulations on home ownership for foreigners, although there are still some limitations. “Hot spots” of FDI inflows According to a recent report of Jones Lang LaSalle Vietnam (JLL), a series of free trade agreements such as TPP, EU and ASEAN will further promote the medium and long term development. Interest rates and inflation rate have declined s...

Vietnam Real Estate Attracts Singapore Investors

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Investment flows from Singapore to Vietnam real estate sector are increasing with the presence of many huge investors. According to the Consulate General of Republic of Singapore in Ho Chi Minh City (HCMC), Vietnam is one of the leading markets for investment of Singapore businesses. Currently, Singapore’s real estate businesses are operating successfully in Vietnam. A typical case is the 7 Vietnam – Singapore Industrial Parks (VSIP) that has attracted more than 8 billion USD of investment capital and creating jobs for more than 155,000 workers. According to Director of Department of International Business Development of Singapore, many multinational enterprises that headquartered in Singapore are also very interested in the real estate market of Vietnam . One example is the Kusto Home Company based in Singapore, which is developing and managing the Diamond Island project in HCMC. According to President of Kusto Home, they have studied Vietnam real estate market since 2005 and found ...