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Ministry of Construction responds to condotel recommendations of VnREA

Condotel has developed very strongly but there are still many unresolved legal issues

The Ministry of Construction has issued Document No. 67 / BXD-QLN, replying to the Vietnam Real Estate Association (VnREA) on recommendations for the coastal condotel.

Accordingly, the Ministry of Construction received Document No. 03/2017 / BC-VNREA dated February 24, 2017 of the Vietnam Real Estate Association, proposing a number of condotel issues, attached to Document No. 193 / PC-VPCP dated 9 March 2017 of the Government Office.

Condotel has developed very strongly but there are still many unresolved legal issues
Condotel has developed very strongly but there are still many unresolved legal issues

After the study, Ministry of Construction issued Document No. 381 / BXD QLN dated Frebruary 28, 2017 to report to Deputy Prime Minister Trinh Dinh Dung, which has proposed some content related to the condotel type.

Specifically, the construction law, the Ministry of Construction said that it is necessary to study and promulgate specific standards and standards for this type of construction (Ministry of Construction will soon study and promulgate according to competence).

Regarding land legislation, it is necessary to amend and supplement the regulations on the classification and the mechanism of using mixed land (both used for residential land and commercial land) and to issue certificates of land use right. land, house ownership and other land-attached assets for this type (the Ministry of Natural Resources and Environment shall be assigned to assume the prime responsibility for this study).

Condotel is facing a series of legal issues that require resolution
Condotel is facing a series of legal issues that require resolution

In terms of land finance, the Ministry of Construction proposed to supplement the regulations on collection of land use fees for mixed land to match the condotel. (The Ministry of Finance and the Ministry of Natural Resources and Environment were assigned to lead the study. ).

Other proposals such as duration of ownership, transfer of contracts, ownership of foreigners, investment in infrastructure … The Ministry of Construction said that it has recorded and will coordinate with the relevant agencies to research To submit to competent agencies for early consideration and settlement.

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Ministry of Construction responds to condotel recommendations of VnREA
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