Issuing red books for condotels is still stuck, the Ministry of Natural Resources and Environment gives further instructions

The Ministry of Natural Resources and Environment requested localities to review and direct the organization of the issuance of certificates (red books) for condotels, tourist villas, officetels... in accordance with regulations.

The Ministry of Natural Resources and Environment has just sent a document to the People's Committees of provinces and centrally-run cities on solutions to remove, support and promote the real estate market.

The document of this Ministry clearly states that, according to the reflection of some localities and on the mass media, there are still many cases of tourist apartments (condotel), tourist villas, office apartments combined with accommodation, commercial services (officetel)... that have not been granted certificates of land use rights, house ownership rights and other assets attached to land (red books).

The above existence affects the legitimate rights and interests of the parties involved, affecting the development of the real estate market.

Series of real estate projects in Da Nang (Photo: Ha Phong).

The Ministry of Natural Resources and Environment requested the People's Committees of provinces and centrally-run cities to strengthen the direction of relevant agencies to review, synthesize, and fully count the number of construction works belonging to real estate projects such as condotels, tourist villas, office apartments combined with accommodation, commercial services... that have not been granted certificates.

The units shall direct the organization to issue certificates for the above types of apartments in accordance with regulations. In addition, it is necessary to clarify the responsibilities and authority of each local agency to direct the organization to implement in accordance with the provisions of law. In case of unclear or beyond authority, it is necessary to report to the relevant ministries and branches for consideration and resolution.

Localities shall synthesize and classify projects with difficulties in implementation according to the provisions of the law on investment, construction, real estate business and land law, clearly stating the reasons for the difficulties, responsibilities and settlement authority of each ministry and branch and proposing solutions to remove the above difficulties and obstacles.

Regarding the issuance of red books for condotels, in April 2023, Decree No. 10/2023 issued by the Government is considered good news for the resort real estate market.

Accordingly, condotels, officetels, resort villas and other works serving accommodation and tourism on commercial and service land, if qualified, will be granted certificates of land use rights, house ownership rights and other assets attached to the land (red books).

In May 2023, the Ministry of Natural Resources and Environment also sent an official dispatch to the People's Committees of provinces and cities requesting them to review and issue documents under their authority to organize the implementation of Decree No. 10/2023. The Ministry requested localities to promote the issuance of red books for condotels, tourist villas, officetels, commercial services, etc.

A recent real estate market report by a unit shows that the resort real estate segment is still "sliding" in the market's vortex of fluctuations. The number of new transactions is very limited. The demand for purchases and the amount of deposits are very low.

October 2023 data of this unit shows that in the month, there was 1 resort villa project launched on the market (next sales phase) with 18 units; 1 unit was traded at a rate of 6%. This consumption level decreased by 99% compared to the same period in 2022. Notably, more than 80% of primary projects had to close their product portfolio to adjust selling prices and sales policies.

Thu Ha, according to Dantri.com.vn

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