People who 'live safe and sound' always like this segment, the proposed 2024 Land Law will take effect from July 1

The Ministry of Natural Resources and Environment proposed the revised Land Law to take effect from July 1, 2024, houses in Hanoi's alleys have increased in price for many years, 38 commercial housing projects are eligible to open for sale in the first quarter of 2024... are the latest real estate news.

Latest real estate: The Ministry of Natural Resources and Environment proposed that the Land Law No. 31/2024/QH15 take effect from July 1, 2024 instead of January 1, 2025. (Source: XD Newspaper)

The Ministry of Natural Resources and Environment proposed the 2024 Land Law to take effect from July 1, 2024.

The Ministry of Natural Resources and Environment proposed that the Land Law No. 31/2024/QH15 take effect from July 1, 2024 instead of January 1, 2025.

The Ministry of Natural Resources and Environment is proposing to draft a National Assembly Resolution amending and supplementing Clause 1, Article 252 of Land Law No. 31/2024/QH15.

The Ministry of Natural Resources and Environment said that the Land Law is a major law, of special significance and importance in the political, socio-economic, national defense, security, and environmental protection life of the country; it has a profound impact on all classes of people, the business community, and has a close relationship with many other related laws. The Land Law has many new, important breakthrough contents that contribute to the goal of perfecting institutions and policies, improving the effectiveness and efficiency of land management and use.

Regarding the progress of drafting detailed regulations and instructions for the implementation of the 2024 Land Law, for legal documents assigned to be drafted by the Ministry of Natural Resources and Environment: The Government has issued Decree No. 42/2024/ND-CP dated April 16, 2024 regulating sea encroachment activities.

The four draft Decrees include: Decree detailing the implementation of a number of articles of the Land Law; Decree regulating compensation, support, and resettlement when the State recovers land; Decree regulating basic land survey; registration, granting of certificates of land use rights, ownership of assets attached to land and land information system; Decree regulating land prices, which have been developed by the Ministry of Natural Resources and Environment in accordance with the provisions of the Law on Promulgation of Legal Documents.

Specifically, the Drafting Committee and Editorial Team were established to develop the Decree; the Drafting Committee and Editorial Team met and gave opinions on the contents of the draft Decrees; sent written opinions to ministries, branches and localities; posted the contents of the draft Decrees on the Government's and the Ministry of Natural Resources and Environment's electronic information portals to collect opinions from relevant organizations and individuals.

In addition, the organization collected opinions from the People's Committees, relevant departments, branches and sectors of 63 provinces and centrally-run cities through organizing 4 conferences in the regions (North, Central, South Central and South); coordinated with the Vietnam Federation of Commerce and Industry to collect opinions from experts, scientists and enterprises on the draft Decree detailing the implementation of a number of articles of the Land Law and the draft Decree regulating land prices.

To date, the Ministry of Natural Resources and Environment has completed the dossier and sent it to the Ministry of Justice for appraisal. The Ministry of Justice has organized a Council meeting to appraise 4 dossiers of this draft Decree. The Ministry of Natural Resources and Environment is closely coordinating with the Ministry of Justice to study, absorb, explain, and complete the draft Decree to submit to the Government according to the assigned schedule.

The Ministry of Natural Resources and Environment said that the dissemination of the basic contents of the Land Law has been focused on by agencies through the mass media over the past time. Media agencies have spent a lot of time disseminating the basic contents of the Land Law.

The Ministry organized an online conference to implement the Land Law with ministries, branches and 63 provinces and centrally-run cities (many localities online to the commune level) right after the Prime Minister issued the Plan to implement the Land Law; chaired and coordinated with the Central Propaganda Department to organize a conference to disseminate the Land Law to nearly 400 reporters at all levels; coordinated with the Vietnam Federation of Commerce and Industry to disseminate to relevant enterprises, organizations and individuals; disseminate to officials and civil servants of the State Audit, etc.

The Ministry of Foreign Affairs organized a conference to disseminate information to overseas Vietnamese at home and abroad. According to the Ministry of Foreign Affairs, the conference attracted a large number of delegates (about 500 delegates attending in person and online), including: representatives of departments, ministries, branches and associations of Vietnamese people abroad, business associations and real estate businesses at home and abroad; representatives of Vietnamese representative agencies abroad; a large number of overseas Vietnamese attending directly in Hanoi and 50 connecting points in 30 countries and territories in 4 continents (United States, Canada, France, Germany, Poland, Netherlands, Japan, Korea, Taiwan (China), Thailand, Laos, Cambodia, Australia, New Zealand, Tanzania, Morocco...).

Many localities have organized conferences to disseminate the Land Law from the provincial to the communal level: Long An, Bac Giang, Lao Cai, Thai Binh... Through conferences to deploy and disseminate the Land Law, many localities, people and businesses hope that the Land Law will be implemented soon.

This is one of the important premises for the Land Law to take effect soon, in order to contribute to promoting land resources, using land resources economically, effectively and sustainably in the new period.

The Ministry of Natural Resources and Environment drafted a Proposal to develop a Resolution of the National Assembly amending and supplementing Clause 1, Article 252 of the Land Law No. 31/2024/QH15, with the aim of developing a Resolution of the National Assembly to allow the Land Law No. 31/2024/QH15 to take effect from July 1, 2024, bringing the Land Law into practice early will unlock land resources, promptly resolve and completely handle land backlogs.

38 commercial housing projects eligible to open for sale in the first quarter of 2024

In the first quarter of 2024, nationwide, there will be 38 commercial housing projects eligible for sale with a scale of about 5,527 units, the number of projects eligible to sell future housing is equal to 80.85% compared to the fourth quarter of 2023 and equal to 73.08% compared to the same period in 2023.

The report on the number of housing development projects, real estate projects licensed, in progress, completed and eligible to sell future housing in the first quarter of 2024 by the Ministry of Construction said that for commercial housing development projects, 10 projects were completed with a scale of about 4,706 units, the number of projects equal to 34.48% compared to the fourth quarter of 2023 and equal to 71.43% compared to the same period in 2023. Specifically, there are 3 projects in the North; 4 projects in the Central region; 3 projects in the South.

There are 19 newly licensed projects with a scale of about 9,774 units, the number of newly licensed projects is equal to 95% compared to the fourth quarter of 2023 and equal to 111.76% compared to the same period in 2023, specifically, in the North there are 12 projects, in the Central region there are 7 projects.

For projects eligible to sell future housing, there are 38 projects with a scale of about 5,527 units, the number of projects eligible to sell future housing is equal to 80.85% compared to the fourth quarter of 2023 and equal to 73.08% compared to the same period in 2023.

984 projects with a scale of about 421,353 units are under construction, the number of projects under construction is 115.22% compared to the fourth quarter of 2023 and 140.97% compared to the same period in 2023.

Specifically, in the North, there are 406 projects with a scale of about 236,873 apartments; in the Central region, there are 360 ​​projects with a scale of about 91,022 apartments; in the South, there are 218 projects with a scale of about 93,458 apartments.

According to the Ministry of Construction, the real estate market in the quarter also responded positively to the directions and solutions of the Government, the Prime Minister and ministries and branches.

However, in the coming time, it is still necessary to continue focusing on removing obstacles in organizing and implementing real estate projects in localities, especially in site clearance, land allocation, and land price determination, to continue implementing the increase in supply to the market.

Houses in Hanoi alleys have increased in price continuously for many years.

The first quarter residential market report of a number of research units shows that while many real estate segments continue to slow down, residential real estate in Hanoi in the first months of this year continues to record growth.

A market research center reported that residential land transactions in Hanoi this quarter reached 9,800 units. Of which, transactions under VND5 billion accounted for 44%. The number of transactions in March alone reached approximately 5,000 units, an increase of 153% compared to the previous February and an increase of 38% compared to December 2023.

Transactions in March mainly came from houses in alleys in non-central districts such as Bac Tu Liem, Nam Tu Liem, Ha Dong, Long Bien... The number of transactions in this group of districts increased by 176% compared to February this year. Transactions in central districts also doubled compared to February, concentrated in Hai Ba Trung, Ba Dinh, Dong Da districts.

The unit price of street-front houses and houses in alleys in Hanoi has recorded an increasing trend since 2020. In the first quarter of this year, street-front houses in the central area reached approximately 400 million VND/m2, about 2 times higher than in the non-central area. The price of houses in alleys has reached 170 million VND/m2 of land in the central area, and approximately 100 million VND/m2 of land in the non-central area.

Previously, a market report from a real estate website also pointed out that while many real estate segments continued to slow down, residential land in Hanoi in the first months of this year continued to record growth.

Notably, the selling price and interest level in this segment increased by 2-9% in the beginning of this year compared to the same period last year. Of which, private houses in Tay Ho district increased the most with 9%. Other districts such as Dong Da, Ha Dong, Hai Ba Trung, Hoang Mai also increased by 4-8%.

Also recorded on real estate sales pages, since the beginning of this year, along with the "fever" of apartment prices, the segment of houses in alleys in Hanoi has also recorded rapid price increases on buying and selling pages.

For example, a house in an alley in Ngu Hiep commune, Thanh Tri district (Hanoi) with an area of ​​35m2, built 4 floors is being offered for sale at 4.2 billion VND, equivalent to 120 million VND/m2. It is worth noting that this real estate product is a used house, located in an alley less than 3m wide.

Similarly, a 4-storey house with a land area of ​​30m2 in An Khanh commune, Hoai Duc district is being offered for sale at a price of 3.1 billion VND, equivalent to 103 million VND/m2. According to the broker, this house is located in an alley, newly built and has a clear red book.

Sharing about the recent increase in transactions of residential land in alleys, Mr. Tran Quang Trung, Business Development Director of OneHousing, said that this is a suitable segment for customers who like to "eat well and dress well" and have the habit of living in a house on the ground.

In terms of risk factors for customers and investors with residential land products, there is none. If there is, it is only a matter of investors paying attention to choosing to buy in which district, which area and what the security is like there...

From an expert perspective, Mr. Pham Duc Toan - CEO of EZ Property - commented that in the past, houses and land in alleys were often the segment that real buyers compared with new apartments. However, recently, the sudden increase in apartment prices in both the primary and secondary markets has prompted a group of customers to change their direction to buy houses and land.

According to Mr. Toan, with the same budget, many buyers will accept the inconveniences and limitations of the alley housing segment such as parking space and construction quality, instead of deciding to buy an apartment.

Ho Chi Minh City: Nearly 9,000 resettlement apartments are vacant

At the press conference on the socio-economic situation of Ho Chi Minh City on the afternoon of May 9, Mr. Dinh Thien Tan, Head of the Operation Management Department (Ho Chi Minh City Department of Construction) said that the City currently has 8,948 resettlement apartments owned by the State that have not been allocated to people. These apartments are located in 85 apartment buildings and apartment complexes.

Currently, the Center has received and managed 8,461 apartments, and is preparing to receive the remaining 487 apartments from the People's Committee of Thu Duc City and districts under the direction of the People's Committee of Ho Chi Minh City. These are apartments expected to be used as resettlement areas for people affected by the projects.

Mr. Tan said that Decision No. 2880/QD-UBND clearly states that "only apartment users who have been arranged for resettlement, temporary residence or signed a contract to rent, hire-purchase, or purchase an apartment in installments owned by the State are authorized to represent the owner to attend and exercise voting rights at the Apartment Building Conference to implement the contents specified in Article 102 of the 2014 Housing Law".

However, the Center has not yet been authorized by the City People's Committee to attend the Apartment Building Conference and participate in the Management Board, so the Center cannot attend as a representative of the owners to vote for the Apartment Building Management Board and agree on the unit price for apartment building management and operation for vacant apartments in the apartment building managed by the unit.

According to Mr. Tan, recently, the Management Board, Management Board, and Public Service Company of 39 apartment projects have issued documents and notices requesting payment of management and operation costs for empty apartments managed by the Ho Chi Minh City Center for Housing Management and Construction Appraisal with an amount of more than 81 billion VND.

The Center has compiled and reported to the Department of Construction to advise the City People's Committee, proposing that the People's Committee authorize the Center to attend the Apartment Building Conference, participate in the Management Board, and pay the management and operation costs of empty apartments managed by the Center.

After the Ho Chi Minh City People's Committee approves the policy, the Center will coordinate with the units to agree on the management and operation fees to be paid and the payment method.

Source: https://baoquocte.vn/bat-dong-san-moi-nhat-nguoi-an-chac-mac-ben-luon-thich-phan-khuc-nay-de-xuat-luat-dat-dai-2024-co-hieu-luc-thi-hanh-tu-17-270877.html