Real estate, apartment in Vietnam has passed the most difficult period and stabilized. But to satisfy the house demand of 90 million people, it’s need to have many changes in laws. ANT Lawyers will update the proposal of an expert in issue of definite ownership apartment.
As many other
countries such as in England, the term to own an apartment of 999 years, but in
Vietnam, only land has been assigned by the Government in 2 forms: permanent
assignment and definite assignment.
In first method,
permanent land assignment fell into residential land, and almost apartments
were purchased in market with the “permanent” term.
In the second,
lands were assigned within 50 years, the investors continued developing the
projects. Some apartment projects in Ho Chi Minh city and Ha Noi belonged to
this type. After the investors conducted procedures to transfer definite
ownership apartment to permanent ownership apartment. Therefore, actually, the
price of apartment will decrease if the form of definite ownership is applied.
Regulating the definite ownership of 50 -70 years for apartment will take
advantages in reconstruction and improvement in case of degrading, usage
expiry.
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