"Key Changes to Foreign Investment in Real Estate Businesses and Foreign Use of Land in Vietnam": Vietnam Team

Key Changes to Foreign Investment in Real Estate Businesses and Foreign Use of Land in Vietnam

1.        Introduction

On 18 January 2024, the National Assembly of Vietnam passed the New Land Law (No.31/2024/QH15), which together with the New Housing Law (No.27/2023/QH15) and the New Law on Real Estate Business (No. 29/2023/QH15, hereinafter “New LREB”) passed in 2023, will take effect from 1 January 2025.

Among key objectives, these new laws are expected to create more favorable conditions to ease the unnecessary obstacles for foreign investment in the real estate market and foreign access to land use rights in Vietnam.

This article highlights significant legal changes affecting the real estate market and land use of both local and foreign investors in general.

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