Hotline: +(84) 86 888 1900
Banks raise deposit interest rates
In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio ...
Learn More
Franchise explosion in Vietnam
Franchise has facilitated many foreign brands to break into Vietnam. In addition to franchise industry for food, beverage or education, franchising in goods retail industry...
Learn More
6 leading economic sectors in Central region
There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results ...
Learn More
91.9% companies are optimistic about production activities in the last 6 months this year
FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume ...
Learn More
CPTPP makes shift of Vietnam from deficit to surplus
Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend ...
Learn More
- 02 / 08 / 2024 -
CONDITIONS FOR MINI APARTMENTS TO BE ISSUED CERTIFICATES OF OWNERSHIP
According to the Housing Law 2023, for a mini apartment to be issued a Pink Book, it must meet specific construction and fire safety conditions. Additionally, the apartment owner must adhere to specific principles as stipulated by this Law.

From August 1, 2024, the Housing Law 2023 will officially take effect. Compared to the Housing Law 2014, one of the new regulations garnering much attention is the provision for issuing Certificates of Ownership (Pink Books) for apartments in multi-story, multi-apartment buildings owned by individuals (mini apartments). This regulation provides a legal resolution, enabling many people, especially young couples and low-income individuals, to own their homes at a cost of about half that of standard commercial apartments.

To be considered for a Pink Book, a mini apartment must meet the following conditions:

Construction Conditions: The mini apartment must be constructed in accordance with the requirements for individual multi-story, multi-apartment buildings as guided by Official Letter No. 4157/BXD-QLN dated September 15, 2023, from the Minister of Construction.

Fire Safety Conditions: The mini apartment must meet the fire prevention and firefighting requirements as stipulated by the law for individual multi-story, multi-apartment buildings and ensure that access roads are available for firefighting vehicles to perform their tasks at locations with individual multi-story, multi-apartment buildings.

Responsibilities of Individuals in Housing Development: The owner of the mini apartment must comply with the following obligations: Adhere to the construction law regulations in the construction and renovation of housing; Comply with environmental protection laws during the construction and renovation of housing; Ensure the safety of people and property of the owner and users of adjacent structures during construction and renovation. In case of causing damage, compensation must be made according to the law, along with other responsibilities in housing development as prescribed by law.

The Housing Law 2023 takes effect from August 1, 2024.

This newsletter is intended to inform about newly enacted legal regulations and is not meant to be used as advice or applied to specific cases.

Bizlawyer is honored to accompany our esteemed readers!

Termination of Cash Transactions for Real Estate Deals