PROPERTY RIGHTS OF FOREIGN INDIVIDUALS, ORGANIZATIONS, FOREIGN-INVESTED ECONOMIC ENTITIES, AND OVERSEAS VIETNAMESE
In Vietnam, the real estate market is one of the pioneering sectors, playing a crucial role in promoting and comprehensively developing the economy. However, since 2022, the market has begun to face significant challenges due to the negative impacts of the COVID-19 pandemic, as well as the general difficulties of the global economy. These issues have posed challenges to the stability and development of the real estate market in recent times.
To help address these issues, the National Assembly recently passed important laws in the real estate business sector, including the Land Law No. 31/2024/QH15 dated January 18, 2024 (“Land Law 2024”), the Real Estate Business Law No. 29/2023/QH15 dated November 28, 2023 (“Real Estate Business Law 2023”), and the Housing Law No. 27/2023/QH15 dated November 27, 2023 (“Housing Law 2023”). These are expected to bring positive changes and create momentum for the development of the real estate market.
Source: DIMAC LAW FIRM