An amended real estate business law has officially been approved by the National Assembly of Vietnam, The Investor is reporting. Set to take effect from January 2025, the amended real estate business law has a few key changes developers and real estate firms should be aware of. These include:
- Developers cannot collect deposits of more than 5 percent on premises sold off-the-plan; and
- Vendors need to provide buyers with land-use rights or ownership certificates before they can request payment in full.