Vietnam advances major housing and real estate law reforms

Vietnam's government is moving forward with substantial amendments to its housing and real estate legislation. Major developers—including Vingroup, Sun Group and Ecopark—have submitted feedback on a draft real estate law, urging refinements to improve market conditions. The Ministry of Construction is also seeking public input on a revised Housing Law that, for the first time, would codify rental housing, introduce affordable‑price commercial housing and require an electronic identification code for each property. The draft proposes that rental units be built by investors with up to 20% of floor area allocated for commercial services, grants VAT incentives, sets pricing based on full cost recovery and limits ownership to one unit per buyer in a project. It also seeks to curb speculation by restricting resale for at least five years. The government has asked the National Assembly to consider these amendments, along with changes to the Real Estate Business Law, through an expedited procedure at the upcoming extraordinary parliamentary session.