Article 57 of the 2023 Housing Law stipulates the development of multi-story, multi-apartment housing by individuals (also known as mini-apartments) for sale, lease-purchase, or rental. Accordingly, individuals wishing to build mini-apartments (housing with two or more floors, each floor containing apartments, or two or more floors with 20 or more apartments) for sale or rent must meet the conditions for being the investor of a housing construction project. The apartments must meet the conditions for obtaining a land use certificate (pink book) under land law and be sold, leased, or lease-purchased according to the provisions of this law and the law on real estate business. Furthermore, investment in mini-apartments for rent must meet construction requirements issued by the Minister of Construction. The building complex must also meet fire safety requirements as stipulated by law.
W-chung-cu-mini-vietnamnet.jpg

From August 1st, mini-apartment buildings will be granted ownership certificates if they meet fire safety requirements and other regulations. Photo: Hong Khanh

In addition, the conditions stipulated by the Provincial People's Committee regarding access roads for firefighting vehicles to carry out firefighting duties at mini-apartment buildings must be met. From a legal perspective, regulations on the development of mini-apartment buildings and the issuance of certificates for this type of housing have been amended to be stricter than before. Mr. Pham Duc Toan, General Director of EZ Property Investment and Development Joint Stock Company (EZ Property), assessed that the regulation allowing mini-apartment units to be granted ownership certificates in the 2023 Housing Law will have a positive impact on the psychology of many people currently living in apartments, who want their property to be legally recognized. According to Mr. Toan, the regulation requiring individuals wishing to build mini-apartment buildings to meet the conditions for being the investor of a housing construction project has tightened management of this type of investment, similar to the construction of commercial apartments. Along with that are the fire safety requirements... which will address previous shortcomings. However, according to Mr. Toan, strict management by the relevant authorities is necessary. Because, if not properly managed, it could create a wave of mini-apartment construction, distorting this type of real estate. According to preliminary statistics, there are currently about 10,000 mini-apartments nationwide, 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