Vietnam proposes new protections for apartment ownership rights

The Ministry of Construction is proposing amendments to the Housing Law to clarify property rights and responsibilities when apartment buildings reach the end of their technical lifespan. Under the draft law, residents' ownership rights remain protected even after a building is slated for demolition. Owners may have the right to continue using the land to rebuild or participate in redevelopment projects through various financial models.

Expert Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, emphasized that apartment owners possess rights not only to the physical unit but also to a corresponding share of the land use rights. He suggested that the value of land use rights for each apartment should be calculated based on its area and floor level to ensure fair compensation or reinvestment during reconstruction processes.