Ministry of Construction: It time to set the time limit for apartment ownership
[June 15th, 2022] Regarding the issue of 50-70 years apartment life, at the regular press conference of the Ministry of Construction, Mr. Nguyen Manh Khoi - Deputy Director of the Department of Housing and Real Estate Market Management (Ministry of Construction) said: In 2014, the National Assembly passed an amendment to the Housing Law. At that time, there were two situations: regulations on ownership of an apartment building for a limited time or for a long time.
Mr. Khoi shared, at that time, there were many opinions that agreed with the regulation that owning an apartment building should have a time limit. According to him, the issue of apartment building term is not new to many countries in the world, each country has different regulations, some countries have 30 years, 99 years, 199 years or leave 2 options...
As for Vietnam, anyway, house and land are related to each other, in the Land Law stipulating a long-term land use term, people understand with the meaning of permanent. Therefore, the National Assembly proposed to continue to study and calculate the impact of the policy.
(Source: Internet)
Mr. Khoi said that many agencies and localities, including the Ministry of Construction, are trying to promote the renovation of old apartment buildings. However, the past few years have remained stagnant and one of the causes is the problem of permanent ownership.
Many people believe that owning a house permanently, so when the house expires, it is their right to demolish or not destroy, so it is very difficult to rebuild the old apartment building, Mr. Khoi said.
After 7 years of implementing the 2014 Housing Law, leaders of the Housing and Real Estate Market Management Department informed that, recently, when proposing a law-making document to be submitted to the Government, the Ministry of Construction proposed two methods.
(Source: Internet)
Option 1, the term of ownership of the apartment building is determined according to the use term of the work. Mr. Khoi further explained that the project's useful life does not mean 50 years or 70 years, but depends on the calculation on the design documents and the use process, which can last more than that many years. Home ownership could also last longer. He affirmed that the Ministry of Construction has not said that it will only be 50-70 years but depends on many levels of house types.
Option 2 is to own according to the land use term. According to Mr. Khoi, the Government recently said that it would report the above two options to the National Assembly for consideration.
However, in this regard, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) said that currently, it is not advisable to apply the apartment with a term but only a limited time to use the apartment. when this work is seriously degraded with a thorough quality inspection. The mentality of most Vietnamese people want to own a long-term house and the habit of using apartment buildings has only been shaped in the past decade. Therefore, this proposal may cause the apartment market to decline.
HoREA President also said that for apartment buildings after their useful life, the provincial housing management agency must verify the quality of the work, but still have to ensure the ownership of the apartment, other construction area and the right to own the apartment.
Source: CafeF
