Thân Trọng Lý - Partner

Nguyễn Bảo Ngọc - Associate

Nguyễn Minh Tuấn - Junior Associate

Nguyễn Nghiệp Khải - Paralegal

In Vietnam, the real estate market is a pioneer, playing an important role in promoting and developing the economy comprehensively. However, from 2022, the market started facing significant challenges, due to the impact of the global economic recession and negative impacts from the COVID-19 pandemic. This poses challenges to the stability and prospect  of the real estate market in the near future.

To address those challenges, the National Assembly has passed significant amendments to the laws, including the Land Law No. 31/2024/QH15 dated 18 January 2024 (“Land Law 2024”), the Law on Real Estate Business No. 29/2023/QH15 dated 28 November 2023 (“LOREB 2023”), and Law on Housing No. 27/2023/QH15 dated 27 November 2023 (“LOH 2023”). Concurrently, many implementing decrees have been urgently prepared and issued by the Government and relevant Ministries. These legal documents are expected to make significant positive changes and create development momentum for the real estate market.

The Land Law 2024 is considered as an important and landmark step in comprehensively revising regulations on land management and use. The changes in this Law not only aim to create favorable conditions for the exercise of rights and obligations of businesses and investors, but also bring greater clarity to legal regulations.

LOREB 2023 and LOH 2023 are expected to create new opportunities for the Vietnamese real estate market, which is currently facing difficulties in the period of post-COVID-19 pandemic and the consequences of unsustainable rapid growth. The new regulations of the LOREB 2023 will establish better management mechanisms, enhance transparency regarding real estate projects and investors, thereby protecting buyers' rights, minimizing legal risks, and ultimately promoting a stable market development.

This guide provides foreign individuals, foreign organizations, foreign-invested economic organizations, and Vietnamese residing abroad (regardless of whether they retain Vietnamese nationality) with an overview and detailed insights into the issues of land use rights, ownership rights, and real estate business in Vietnam. By summarizing and clearly presenting the current legal provisions, we hope this guide helps the relevant parties understand their rights and obligations to make informed investment decisions, and contribute to improving the transparency, minimizing legal risks and facilitating investment activities in the real estate sector in Vietnam.

Please download & see full document below. 

http://dimac-law.com/upload/files/DIMAC_Vietnam%20Real%20estate%20Guide_E_07_TTL_00.pdf