Friday, June 14, 2024 10:12:05 AM - Markets open
VN-INDEX 1,303.79 +2.28/+0.18%
HNX-INDEX 248.88 +0.52/+0.21%
UPCOM-INDEX 99.03 +0.01/+0.01%
Developers must verify with foreign homeowner's database before sales
Vietnam News - 4/5/2024 3:52:43 PM
 (0 ratings. You must sign in to rate.)
 The Vietnam Chamber of Commerce and Industry (VCCI) has proposed the creation of a shared database by local governments for the number of foreign homeowners of independent houses under their jurisdiction.
 
The 2023 Housing Law stipulates that foreign owners cannot exceed more than 30 per cent of the total number of units in an apartment complex and not more than 250 independent houses in an area of 10,000 residents.
 
Once the limit is reached in an area, all subsequent property projects must be informed that no more independent houses can be sold to foreigners. In order to strictly enforce this rule, a comprehensive database is required to keep developers and buyers updated on the number of available houses in the area.
 
The chamber said developers, before executing any sales, lease, or gift contracts to foreigners, must verify first with the local government’s database to see if they can be authorised. Following contract signings, developers must promptly notify the local housing management agency of the transactions so that the database can be updated.
 
Regarding apartments, the chamber said it is not necessary to keep a database because developers already know the 30 per cent cap for their projects. — VNS
 
Read original article here
Newer News
25/05 Hà Nội sees recovery in low-rise property prices but apartment prices fall
08/05 2024 Land Law to draw real estate investment, increase social housing supply
08/05 Real estate market in the South picking up
19/04 Ministry requests Hà Nội to inspect rising prices of apartments
17/04 Real estate market has positive performances in Q1: VARS
Older News
28/03 Management of real estate brokers to be tightened
23/03 HCM City real estate market to recover in H2
23/03 Industrial real estate emerges out of storm
18/03 Lots of ground to cover to build 130,000 social housing units this year
12/03 Deputy PM urges resolving price manipulation for healthy real estate market
12/03 Limit set on interest rates of loans for social housing
21/02 Experts upbeat about real estate prospects
23/12 Foreign investments in property market expected to soar: experts
22/12 Thừa Thiên-Huế invests in infrastructure in economic zones and industrial parks
19/12 PM asks for drastic solutions to remove difficulties for realty market
 
Newsletter Signup
Top Stories
Surge in newly opened securities accounts recorded in May
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Market Update
Last updated at 10:04:59 AM
VN-INDEX 1,303.79 +2.28/+0.18%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.