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All four laws will have a profound impact on the real estate market, helping to synchronize policies and increase transparency so that the entire industry can develop stronger.

4 important laws have a profound impact on the real estate market

Accordingly, the Government will continue to study and improve the institution, and build up a legal system related to construction investment, housing, and real estate business toward completeness and feasibility, focusing on:

- Expeditiously developing and submitting to the National Assembly for consideration and approval the Land Law (amended), the Law on Housing (amended), the Law on Real Estate Business (amended), the Law on Bidding (amended), the Law on Bidding (amended).....

- Actively studying, formulating, and submitting to the National Assembly for consideration and promulgation a “Resolution of the National Assembly on piloting a number of policies to promote the development of social housing”.

- Expeditiously amending and supplementing decrees guiding the implementation of the laws in order to remove current shortcomings, obstacles, and difficulties related to construction investment, business, and transfer of real estate projects:

• The Decree amends and supplements a number of articles of the Decrees in the field of state management by the Ministry of Construction in order to remove difficulties and obstacles related to the execution of real estate projects; be more suitable to the actual situation and ensure the consistency and synchrony of the legal system.
• The Decree amending and supplementing Decrees guiding the implementation of the Land Law in order to remove difficulties and problems related to land procedures, land valuation, and issuance of certificates of land use rights, and ownership rights for non-residential real estate.
• Decree amending and supplementing the Decree detailing, and guiding the implementation of, a number of articles of the Investment Law.

Stipulating the process, order, and procedures for executing investment projects on the construction of commercial houses and urban quarters so that localities can conveniently and uniformly execute these projects.

Besides, localities need to immediately issue regulations, guidelines, and solutions for problems falling under their decision-making authority;  Report problems falling under the deciding competence of the Government or the Prime Minister to the latter for consideration and decision.

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