A land lot in Da Nang. Housing projects are proposed to sell land lots. – Photo diendandatdai.com This is the regulation proposed at the end of May by the Ministry of Natural Resources and Environment in the latest version of the draft amending and supplementing Decree 43 on specific regulations for a number of articles in the Land Law, including conditions for transferring land use rights at housing projects. According to the April version of the amended draft, the housing projects nationwide are not allowed to sell land lots. Real estate experts said the ban of selling land lots would have strong impact on the domestic real estate market and it is very difficult to implement this ban. Nguyen Tran Nam, chairman of the Vietnam Real Estate Association said the proposal on banning the sale of land lots is not suitable with both legal and practical issues, causing many difficulties for businesses and the people. The ministry has the ban with good target of stopping illegal actions in trading land lots to cheat buyers over past time, Nam said. The fault is real estate market management of local authorities but not due to the regulations. Nam said the market has… Read full this story
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