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

March 05, 2024

Earlier, the Ministry of Construction had outlined three criteria for identifying small-scale property traders. The first category includes those who transfer or lease three to five existing or undeveloped houses or apartments, or five to ten construction projects annually. The second criteria identifies people 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. Lawyer Truong Anh Tu, chairman of TAT Law Firm, suggests that the proposed limit on the number of real estate transactions residents can undertake annually would prevent individuals, who do not establish real estate firms, from hoarding properties. It might also force small-scale property traders to transact products under others’ names, which would probably provoke disputes.

The source of this news is from Tuoi Tre News