In the 15th National Assembly meeting (6th session) held on 27 November 2023, the Law on Real Estate Business and the Law on Housing were passed. Following a short postponement due to the complexity of the proposed reforms, on 18 January 2024, the Law on Land was also approved. These three laws introduce significant reforms to Vietnam’s real estate sector, and (with the exception of some limited provisions) will take effect from 1 January 2025. It has been around 10 years since the laws on the same subject were enacted, and the new laws have been developed to resolve pending issues and adapt with the development of the current market and social practices.
- The Law on Housing No. 27/2023/QH15 (“Law on Housing 2023“) will replace the existing Law on Housing No. 65/2014/QH13 that was enacted in 2014.
- The Law on Real Estate Business (“Law on Real Estate Business 2023“) will replace the existing Law on Real Estate Business No. 66/2014/QH13 that was enacted in 2014.
- The Law on Land (“Law on Land 2024“) will replace the existing Law on Land No. 45/2013/QH13 that was enacted in 2013 (amended and supplemented by Law No. 35/2018/QH14).
Given the interplay among the Law on Housing 2023, Law on Real Estate Business 2023 and the Law on Land 2024, we highlight the key changes introduced by the three laws in this Update.
For more information, click here to read the full Legal Update.
