Blog

Due to the unique characteristics of Ho Chi Minh City, the history and the actual demand, relocating companies out of the apartment is unbelievable.

You can read more information at Vietnam Real Estate Market

In Article 6 of the Housing Code, issued in 2014 and entered into force on 1 January 2015, the ban on the use of condominiums for non-residential purposes is mentioned. Decree 99 promulgated in 2015 guiding the implementation of the Housing Law also stipulates that organizations and individuals are not allowed to use the apartment as their business location after June 10, 2016.

According to Le Hoang Chau, chairman of the HCMC Real Estate Association, the shortcoming of the law is that there are no specific sanctions. Therefore, if management agencies take measures that are too urgent will not be effective.

However, when dealing with this issue should pay attention to the characteristics of Ho Chi Minh City. Prior to 1975, Ho Chi Minh City used the apartment building to open offices, business companies.

“When doing this, attention should be paid to the characteristics of Ho Chi Minh City. Use a business apartment building that has historic properties. Therefore, the People’s Council of Ho Chi Minh City should issue a resolution to apply for a separate mechanism, “Chau said.

The HCM City Real Estate Association also said that expulsion from condominiums was a barrier to limiting conditions for start-ups for young people.

Startups tend to take advantage of the small office suites to save money. When starting a business, the business is usually super small with the number of personnel only about 3-5 people. The use of condominiums often does not affect the general performance of the surrounding population.

The ban on the use of condominium apartments makes the general invisible office makes the startup business costs expensive rent space. This is a great obstacle to the start-up business.

“Ho Chi Minh City Real Estate Association proposed to amend Clause 11, Article 6 of the Housing Law in the direction of permitting the business registration of micro-enterprises with the number of employees not more than 3 people are allowed to operate in apartments to Encourage the movement to start a business, “Chau petition.

Mr. Le Hoang Chau added that for a startup office, a small business usually has to pay an average of VND2.5 million a month. To rent a private office for 3-5 people takes an average of VND 7 million / month. This cost is not big but it is very meaningful for startups when starting a business.

See more information at Vietnam Real Estate Investment

In fact, the business in the apartment is still very exciting. On many routes, there are no signs that companies will move the business out of the apartment.

According to business representatives, they will be able to circumvent the law by transferring business licenses to houses in the country. Business is still happening in the apartment.

You are reading the article “It Is Not Easy To Evict Business Out The Apartment” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/
All information sharing, feedback please email to info@realestatevietnam.com.vn, Hotline 0909 890 897 (24/7).
Thank you!