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A Series Of New Policies On Real Estate Came Into Effect In February 2017

New policy on real estate

Composition of the condominium management

In Circular 28/2016 / TT-BXD, each owner of an apartment or another area in an apartment only delegates one or more persons in the apartment building to attend the condominium convention. The delegate may be elected as a member of the condominium’s board of management.

In addition, this Circular also changes the regulations on the number of members of the condominium’s board of management. Specifically, if a building has only one block, there should be at least 3 members, and there are many blocks with the same floating block on the ground, each block has at least 1 member (instead of 3 to 5 members as current regulation). In the case of a cluster of condominiums, there should be at least 6 members (instead of 6 to 25 members).

Read more: Vietnam Real Estate Law

New policy on real estate
Composition of the condominium management

Free access database on housing

According to the Construction Ministry’s Circular No. 27/2016 / TT-BXD about detailing a number of articles of the Government’s Decree No. 117/2015 / ND-CP of November 12, 2015, on construction, management and use using information system on housing and real estate market). Accordingly, from 1/2, organizations and individuals exploit and use the list of information and data on housing and real estate market are publicized and widely disseminated through the Internet and the website, it will not be charged.

For remaining information and data, organizations and individuals want to exploit and use, they must be granted access to the Internet and websites. Access accounts will be sent to individuals and organizations within a maximum period of 7 working days from the date of receipt of the request or the time when the individual or organization pays for the user service (if any).

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A Series Of New Policies On Real Estate Came Into Effect In February 2017
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