Vietnam Sets Fixed Usage Terms for New Condominium Buildings

The Central Committee of the Communist Party of Vietnam approved Resolution 21‑NQ/TW, directing that newly built apartments be assigned a finite usage term linked to the construction lifespan of the building. Under the resolution, owners will retain property rights but must meet financial obligations to reconstruct or renovate the complex when the term expires. The policy is part of a broader reform of the Land Law, emphasizing land as a critical production resource owned by the state and prohibiting private foreign ownership.

Experts from the Vietnam Real Estate Market Research Institute (VARS IRE) say the measure aims to create a clearer legal framework for condominium redevelopment and to align property rights with the technical life‑cycle of structures. They warn that the new regime could affect buyer confidence and market dynamics unless implementation procedures are transparent and the protection of asset rights is well defined.