Clarifying the concepts of officetel and condotel
This morning (June 17), Deputy Prime Minister Tran Hong Ha chaired a combined in-person and online meeting on the draft Decree detailing a number of articles of the Law on Real Estate Business.
The Government leader emphasized that what has not been regulated but has been practically and acknowledged must be institutionalized more specifically and clearly, not repeating the law.
At the meeting, Deputy Minister of Construction Nguyen Van Sinh explained and clarified a number of related issues such as information that needs to be made public about real estate, real estate projects put into business according to regulations; detailed regulations on determining small-scale real estate business; real estate business projects under the scope of regulation of the law on bidding...
In addition, other opinions also focused on construction works used for other business fields combined with providing accommodation, tourism and hotel services.
Deputy Prime Minister Tran Hong Ha assigned the Ministry of Construction to continue working with ministries, branches and experts to revise and complete the Draft Decree within the set deadline (Photo: VGP).
The Deputy Prime Minister requested that the drafting agency clarify some new concepts about mixed-use buildings: officetels and condotels, which are office buildings combined with hotel services and apartments combined with hotel services.
The Government leader emphasized that what has not been regulated but has been in practice, recognized and stated in the law must be institutionalized more specifically and clearly, not repeated in the law.
Prof. Dr. Hoang Van Cuong, a delegate of the 15th National Assembly, proposed that in case an enterprise does not have a website or information portal, it must be announced on the website or real estate trading floor in the area where the real estate is located; publicly announced on the housing and real estate market information system of the Ministry of Construction before putting it into transaction and only ending after the transaction is completed; the responsibility to verify the information announced by the enterprise...
Decentralize real estate floor management, digitize procedures
Contributing to the regulation on credit balance and corporate bond balance over the equity of real estate businesses, leaders of the Ministry of Finance and the State Bank requested the Ministry of Construction to study and specifically regulate the ratio of total outstanding debt of the business over the total equity of the real estate business, not over the total investment of the entire project.
Regarding the conditions for individuals doing small-scale real estate business, some experts proposed some criteria for the drafting agency to consider such as sales and rental revenue; total investment; number of real estate businesses in 1 year...
The Deputy Prime Minister requested the Ministry of Construction to absorb and carefully study to have very specific criteria based on revenue for individuals doing real estate business, and supplement regulations on individuals doing business in real estate formed in the future.
Dr. Can Van Luc and Dr. Hoang Van Cuong proposed that the Ministry of Construction decentralize to localities and qualified organizations to train and manage real estate brokerage activities; develop a set of criteria to determine price indexes, real estate transaction indexes, and inventory time of a property to serve the regulation of the real estate market.
Delegates gave their opinions on conditions to ensure the operation of real estate trading floors; regulations on real estate brokerage and granting of real estate brokerage practice certificates (Photo: VGP).
Dr. Nguyen Van Khoi, Chairman of the Vietnam Industrial Real Estate Association, proposed adding social housing to the scope of regulation in the real estate market.
The Deputy Prime Minister requested the drafting agency to review existing real estate transfer procedures based on a digital platform, and not create new procedures.
The Decree needs to promote decentralization in the management of real estate floor activities, providing real estate services in the direction of digitalization, integrating procedures, not creating new procedures; clarifying legal responsibilities, content of activities, facilities to ensure safety, network security, business and personal information, and the ability to connect with other real estate floors.
The Ministry of Construction is responsible for developing the knowledge framework, conditions for organizing examinations, conducting inspections, supervising training activities, granting real estate brokerage practice certificates, public announcement, establishing databases and sanctions for violations...
The Deputy Prime Minister assigned the Ministry of Construction to continue working with ministries, branches and experts to revise and complete the Draft Decree within the set deadline.
Source: https://dantri.com.vn/bat-dong-san/pho-thu-tuong-de-nghi-lam-ro-khai-niem-moi-ve-officetel-condotel-20240617172135174.htm
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