Ministry proposes that individuals be allowed to sell, lease 3-5 houses per year in Vietnam

March 04, 2024

The Vietnamese Ministry of Construction has proposed individuals engaging in small-scale property trade should be allowed to sell or lease three to five houses or apartments each per year. In particular, individuals trading real estate products on a small scale will not have to set up real estate firms, but they will still be required to declare and pay taxes in line with the law. The Ministry of Construction has outlined three criteria for identifying small-scale property traders. The second criterion identifies individuals as small property traders if they sell or lease property projects, each covering 1,000-2,000 square meters of land in urban areas or 3,000-5,000 square meters in rural areas per year. The third criterion proposed by the ministry designates small-scale real estate traders as individuals involved in developing housing projects with two or more floors and fewer than 20 apartments.

The source of this news is from Tuoi Tre News

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