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| Latest real estate: The recently passed Housing Law stipulates that the term of use of apartment buildings is determined based on the design documents and the actual term of use of the apartment building according to the inspection conclusion of the competent authority. (Photo: Hoang Ha) |
Officially no regulation on apartment ownership period
On the morning of November 27, at the 6th Session, the 15th National Assembly officially passed the amended Housing Law, which will take effect from January 1, 2025. Notably, the amended Law does not stipulate the ownership period, but only stipulates the period of use of apartment buildings on the basis of inheriting the current Housing Law.
Regarding the regulations on the term of use of apartment buildings (Article 58), the recently passed Housing Law stipulates that the term of use of apartment buildings is determined based on the design documents and the actual time of use of the apartment building according to the inspection conclusion of the competent authority. The term of use of the apartment building according to the design documents must be clearly stated in the appraisal document of the competent authority according to the provisions of the law on construction.
The term of use of an apartment building is calculated from the date of acceptance of the apartment building into use according to the provisions of the law on construction.
When an apartment building has expired according to the design documents specified in Clause 1 of this Article or has not expired according to the design documents but is damaged, at risk of collapse, and does not ensure safety for the owners and users of the apartment building, the Provincial People's Committee must direct the inspection and assessment of the quality of the apartment building according to the provisions of Article 61 of this Law.
The announcement of apartment buildings that have expired their term of use is carried out in accordance with the provisions of this Law and the law on construction.
In case the apartment building is subject to demolition
In Article 59 of the amended Housing Law, apartment buildings that must be demolished as prescribed in Clause 2 of this Article include:
Apartment buildings that have expired their term of use as prescribed in Article 58 of this Law and are subject to demolition;
Apartment buildings that have not expired according to the provisions of Article 58 of this Law but are subject to demolition.
In addition, cases of apartment building demolition include: Apartment buildings damaged by fire or explosion and no longer meet safety conditions for continued use;
Apartment buildings damaged by natural disasters or enemy attacks are no longer safe enough to continue to be used;
Apartment buildings with main load-bearing structures of the building appearing in a state of overall danger, at risk of collapse, not meeting the conditions for continued use, requiring urgent evacuation of owners and users of the apartment building;
Apartment buildings that are severely damaged, with a local danger to the main load-bearing structure of the building and have one of the following factors: technical infrastructure system for fire prevention and fighting; water supply, drainage, wastewater treatment; electricity supply, internal traffic that do not meet the requirements of current technical standards and regulations or are at risk of being unsafe in operation, exploitation, and use, and must be demolished to ensure the safety of owners and users of the apartment building and the requirements for urban renovation and beautification;
Apartment buildings with one of the following main structures: foundation, columns, walls, beams, and rafters that do not meet normal use requirements and are not subject to demolition as prescribed in Point c and Point d of this Clause, but are located in areas that must be renovated and constructed in sync with apartment buildings subject to demolition as prescribed in this Clause according to approved construction planning.
Positive signal
According to statistics from the Vietnam Real Estate Association (VNREA), a series of large real estate projects from North to South, with diverse segments, are launching sales campaigns, home loan interest rates are decreasing, people are shifting their investment to real estate, accepting "cutting losses"... are positive signals that are promoting the recovery of the real estate market.
In the North, the apartment segment in the fourth quarter of 2023 has been supplemented with supply from the new project The Canopy Residences in Vinhomes Smart City urban area in Hanoi , with a scale of about 1,800 apartments or from The Moonlight 1 An Lac project, Rose Town Ngoc Hoi... The low-rise, adjacent segment received information on the opening of sales of projects such as Aquarius Hung Yen, Sapa City Clouds Lao Cai, Danko Center urban area in Tuyen Quang...
In the Southern region, new supply is being added from the next sales phase of projects: Akari City, Glory Heights, Mastery Centre Point, The Global City... or Eco Village Saigon River, Fiato City Dong Nai, Astral City Binh Duong ; Waterpoint Long An... Meanwhile, in the Central region, information about new projects opening for sale "warms up" the market after a long period of silence such as Eco Central Park Vinh, The Panorama 2 Da Nang, The Sailing Quy Nhon...
In particular, after a long absence from the market, the resort real estate segment has been added to the market. Real estate businesses propose that banks extend the loan period for contractors. The market supply from large projects such as: The 5Way Phu Quoc, Regal Legend Quang Binh, The Ocean Resort Quy Nhon... Notably, newly opened projects have attracted the attention of investors, recording orders many times higher than the number of sales thanks to attractive policies.
In addition to the primary real estate market, the secondary market also recorded positive signs of recovery, with more segments showing signs of "overcoming the bottom". If, in the past, secondary transactions only appeared mainly in the land and residential housing segment with prices under 3 billion VND/product, now, with positive information from improved demand and from diverse supply sources "cutting losses" of investors, from collateral assets being real estate foreclosed by banks, plus interest rates adjusted down to the level of early 2022, the "idle" cash flow among people began to circulate for investment, real estate products priced from 3 - 5 billion VND... began to be invested by investors to anticipate the new growth cycle from early 2024.
According to Dr. Nguyen Van Dinh, Vice President of VNREA, real estate supply is gradually improving from the fourth quarter of 2023, but most of it comes from the next sales phases of old projects and is still far short of the real demand of the market, especially the affordable segment. For the market to develop truly safely, healthily and sustainably, it is necessary to gradually reduce the gap between supply and demand. Therefore, supply needs to be stimulated and appropriately regulated by the State through land allocation and land lease in the direction of having preferential policies and mechanisms for the development of low-cost commercial housing.
In addition, the number of transactions also showed signs of increasing, with 2,700 products in the first quarter; 3,700 products in the second quarter; nearly 6,000 products in the third quarter and continued to increase in the fourth quarter. However, these figures are only about 10% compared to the total transactions before the Covid-19 pandemic. Notably, there are currently about 1,200 real estate projects stuck, mainly in Hanoi and Ho Chi Minh City, which need to be resolved soon to create supply.
Binh Dinh auctions 148 land lots, starting from 337 million VND
In December 2023, 148 land lots in Phu Cat district and Quy Nhon city, Binh Dinh province will be auctioned for land use rights. The highest starting price is over 1.4 billion VND/lot.
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| Phu Cat District, Binh Dinh Province is about to auction hundreds of land lots. (Source: Vneconomy) |
Dong Duong Joint Stock Auction Company will auction 67 land lots, which are assets of the Phu Cat District Land Fund Development and Investment Project Management Board, on the morning of December 11.
The 67 auctioned plots are rural residential land with long-term use. The plots are located in the residential planning area of Cat Lam commune, Phu Cat district.
Plot area from 133-258.89 m2. Starting price from 337 million to 838 million VND/plot.
The auction is a combination of indirect voting and direct voting at the auction; according to the ascending price method. The auction will take place at the hall of the People's Committee of Cat Lam commune.
For plots of land that have no bidders or are invalid or ineligible for auction, we will continue to receive applications and announce prices every Monday after December 11.
Also in Phu Cat district, on the morning of December 14, the Property Auction Service Center organized an auction of 40 residential land lots in the residential planning area of Phu Gia village, Cat Tuong commune.
Plot area from 123.2-150 m2. Starting price from 399 million to 873 million VND/plot.
The auction will take place at the Cat Tuong Commune People's Committee Hall. The auction will be a combination of indirect voting when submitting bidding documents and direct verbal bidding at the auction.
For plots of land that have no bidders or are invalid or ineligible for auction on December 14, we will continue to receive bid documents and announce prices on the mornings of December 21 and December 25.
Similarly, also on the morning of December 14, 19 residential plots in the central residential area of Cat Tuong commune, Phu Gia village, Phu Cat district will also be auctioned for land use rights by the Property Auction Service Center.
The lots range in size from 127.6-301.8 m2. Starting price from 547 million to over 1.4 billion VND/lot.
The auction is a combination of indirect voting when submitting bidding documents and direct verbal bidding at the auction. The auction will take place at the Cat Tuong Commune People's Committee Hall.
In Quy Nhon City, on the morning of December 9, Binh Dinh Joint Stock Auction Company will organize an auction of the right to use 11 land lots of the City People's Committee.
Land plots in the resettlement area serving the road project from Long Van intersection to Long My intersection, Bui Thi Xuan ward.
The area of each plot is 100 m2. Starting price is 6.5-7.5 million VND/m2; equivalent to 650-750 million VND/plot.
Auction form combines indirect voting and direct voting at the auction; according to the ascending price method.
Similarly, on the morning of December 16, Binh Dinh Joint Stock Auction Company also continued to organize the auction of the right to use 11 land lots of Quy Nhon City People's Committee.
Land plots in the resettlement area serving the road project from Long Van intersection to Long My intersection, Bui Thi Xuan ward.
Plots range in size from 92-100 m2. Starting price from 6.5-7.8 million VND/m2; equivalent to 650-750 million VND/plot.
The auction will take place at the hall of the People's Committee of Tran Hung Dao Ward. The auction will be a combination of indirect voting and direct voting at the auction; according to the ascending price method.
Is it necessary to sign the border when making a red book?
Pursuant to Article 70 of Decree 43/2014/ND-CP, the procedure for requesting registration and granting of certificates for households and individuals includes the following steps:
Step 1: Submit application
Step 2: Receive documents
Step 3: Resolve the request
Step 4: Return results.
Of the above steps, step 3 has the most work to do. After receiving valid documents, the People's Committee of the commune, ward or town is responsible for checking the documents and performing the following tasks: Confirming the current status of land use compared to the declared registration content; in case there are no documents specified in Article 100 of Land Law No. 45/2013/QH13 and Article 18 of Decree 43/2014/ND-CP, confirm the origin and time of land use, the status of disputes, and compliance with planning (1).
In case there is no cadastral map, before performing the work in item (1), the People's Committee of the commune, ward or town must notify the Land Registration Office to conduct cadastral measurement or check the cadastral measurement extract submitted by the land user (if any).
Publicly post the results of the file inspection, dispute status, confirmation of current status, origin and time of land use at the headquarters of the People's Committee of the commune, ward, town and residential area where the land is located within 15 days.
Consider resolving feedback on public content and send documents to the Land Registration Office.
In case the application is submitted at the Land Registration Office, the Land Registration Office shall perform the following tasks: If the household or individual submits the application at the Land Registration Office, the application shall be sent to the People's Committee of the commune, ward or town to obtain confirmation and publicize the results as prescribed by the People's Committee of the commune, ward or town.
Extract cadastral map or extract cadastral measurement in places where there is no cadastral map or there is a cadastral map but the current boundary has changed or check the cadastral measurement extract of the land plot submitted by the land user (if any).
Check the registration documents; verify on-site if necessary; confirm eligibility or ineligibility for a certificate on the registration form. Update information on land plots, houses and other assets attached to land, register in land records, land database (if any).
Send cadastral data to the tax authority to determine and notify the collection of money, except for cases where the subject is not subject to financial obligations or is recorded in debt. Prepare documents for signing and issuance of certificates and handing over certificates, except for cases where households and individuals submit documents to the People's Committee of the commune, ward or town where the land is located.
Thus, the neighbor's signature on the boundary is not a separate procedure when issuing a certificate. However, the boundary signature is the most common and easiest way to determine whether or not there is a dispute with the adjacent land user (in fact, all sign on the boundary).
Neighbors who do not sign the boundary can still submit applications for red books.
Clause 11, Article 7 of Circular 33/2017/TT-BTNMT stipulates cases of refusal of application for registration and issuance of certificates, stating clearly:
Upon receiving a document from the civil enforcement agency or the Bailiff Office requesting to temporarily suspend or stop the issuance of certificates for assets that are land use rights, assets attached to land of land users, owners of assets attached to land who are subjects of enforcement according to the provisions of the law on civil enforcement or a notice on the seizure of assets for enforcement; upon receiving a document from the competent authority resolving land disputes on the receipt of a request to resolve land disputes, assets attached to land.
Thus, there is no regulation to refuse to accept applications for registration and issuance of certificates because the neighbor does not sign the border.
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