Vietnam Government to set apartment lifespan by construction term

The Vietnamese Government has reached a consensus to define the usage term of apartment buildings based on the construction lifespan of the works. Under Resolution No. 278/NQ-CP, the Ministry of Construction has been tasked with refining the amended Housing Law to ensure consistency with construction laws.

This policy aims to clarify the rights and obligations of apartment owners when a building reaches the end of its lifespan. Key provisions include the right to continue using the land for reconstruction and the obligation to contribute financially to new construction. Experts emphasize that the building's technical lifespan is distinct from the owners' property rights, addressing public concerns that ownership might expire alongside the structure.

Additionally, the Government requested the Ministry of Construction to improve regulations regarding rental housing, including commercial, official, and social housing models. The Ministry is also directed to establish framework criteria for land subdivision and sale to prevent speculation and policy exploitation.