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The Ministry of Construction has just sent an official reply to a business about a standard area of commercial apartments. In the meantime, pending the final decision on national technical standards on condominiums, commercial apartments may apply a minimum floor area of not less than 25sqm. Is this the new direction for investors?
What is a commercial apartment?
New commercial apartments in the property market in Vietnam in just a few years but has quickly become a major concern of real estate investors. Mentioning the trade we can think of trading activities.
The commercial apartment in English is Shophouse. This is a type of apartment designed both business activities combined to create housing. The design of commercial apartments is quite unique and they are usually built in the city center.
Commercial apartment standard with area of 25 sqm
In 2005, the Law on Construction stipulates that apartment buildings must be closed, with floor space of not less than 45sqm. In the past few years, there have been many shortcomings and difficulties for both investors as well as customers who have demand for the apartment but have low income.
By 2014, the Housing Law has replaced the 2005 Construction Law and eliminated a minimum floor area of 45 square meters. In particular, the regulation refers to commercial apartments must be designed, built in closed style, have the floor area in accordance with standards, construction standards.
And now, while waiting for the official regulation, commercial apartment 25sqm has been approved and temporarily considered for commissioning.
Opportunity or challenge?
There were mixed opinions on the decision. Some say that if you build a 25 sqm apartment with other amenities, it will make the whole neighborhood look like slums. Because 25sqm is too small compared to the name of an apartment building, and such small flats will affect the overall image at the center. According to these comments, small flats should only be built in suburban areas.
But overall, the construction of a 25sqm commercial apartment is very reasonable in the current context in Vietnam. On the common ground, many unoccupied people are allocated equally in the city centers or industrial zones. They are all those who want to buy a house with a low average income and can not afford large apartments. The larger the house, the more money spent to own that house more and more. Moreover, the scale of Vietnamese families is getting smaller and more and more people are becoming more and more celibate. Therefore, it is necessary to have different types of houses to suit the needs of the Vietnamese people.
The 25sqm commercial apartment is the perfect choice for singles or low-income people. This will improve the general situation of the real estate situation in Vietnam. Hopefully, the standard area will be officially accepted in the future. Real estate investors should pay attention to this type of new apartment to seize the opportunity for themselves.
You are reading the article “Commercial Apartment With Area Of 25 Sqm – New Direction For Property In Vietnam” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/
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