Sooner enforcement of the new laws on land, housing and real estate business

     

Being submitted together with this Statement is a draft of Law amending and supplementing numbers of articles of the Land Law 2023, Housing Law 2023 and Real Estate Business Law 2023 (“Amending Law 2024”). Accordingly, once this drafted law is approved, these three major legislations will all take effect from 01 August 2024, as opposed to the previously stated effective date of 01 January 2025. 

    

The drafted Amending Law 2024 is expected to be adopted shortly as it is aligned with the directives of Vietnam Government and the Prime Minister on expediting the process of promulgating legal documents outlining the implementation of these three laws. This proposal is for the purpose of promptly and completely resolving land-related backlogs; simultaneously, this will promote the real estate market to develop, promoting the potential and efficiency of land resources.

     

For details of significant changes, please refer to our [Legal updates here ​on Land Law 2023 and here ​​on Real Estate Business Law 2023] for your comprehensive understanding on this new legislation beforehand.