Law on housing 2023

The 2023 Housing Law (Law No. 27/2023/QH15), passed by the National Assembly on November 27, 2023, will take effect on August 1, 2024. This law consists of 13 chapters and 198 articles, governing the ownership, development, management, use, and transactions of housing in Vietnam. Below are the key highlights: 

1. Issuance of Ownership Certificates for Mini Apartment Units

The new law allows for the issuance of ownership certificates (commonly known as the “pink book”) for mini apartment units, provided that: 

• The building has at least two stories, and each floor contains apartments intended for sale, lease-purchase, or rental; or 

• The building has at least two stories and includes 20 or more apartment units for rental purposes. 

This provision legalizes ownership rights for buyers of mini apartments. 

2. Removal of Fixed Ownership Term for Condominiums

The law no longer prescribes a fixed ownership term for condominiums. 
Instead, the usable life of a condominium will be determined based on the approved design documentation and the inspection conclusion by competent authorities. 
Once a building is deemed unsafe or reaches the end of its lifespan, the provincial People’s Committee will oversee inspections and implement necessary measures, including demolition and relocation. 

3. Expansion of Eligible Beneficiaries for Social Housing

The law expands the scope of entities eligible for social housing policies, including: 

• Poor and near-poor households living in urban areas; 

• Enterprises, cooperatives, and unions of cooperatives operating within industrial zones. 

4. Profit Cap and Incentives for Social Housing Investors

Investors in social housing projects are entitled to a maximum profit margin of 10% of the total construction investment cost. 
They are also entitled to full exemption from land use fees and land rental fees for the entire project area, without having to undergo land price determination procedures or make payments for the exempted land. 

5. Requirement for Allocating Land for Social Housing in Commercial Projects

The law requires commercial housing projects to allocate a portion of their land fund for social housing development. 
This aims to ensure adequate land resources to meet the housing needs of low-income groups. 

6. Regulations on Forced Relocation from Unsafe Condominiums

In cases where a condominium is deemed expired or at risk of collapse, and its owners or occupants fail to comply with relocation decisions, the provincial People’s Committee is empowered to issue a decision enforcing the relocation.