They said the articles are at odds with the Law on Land, which stipulates that residential land has no design life. Owners are entitled to the freehold of the former whereas they can only own the latter for the design life. The law also has a provision for the lease rates of social housing, which will be regulated by VGCL. Meanwhile, the authority to define the procedures applying to the sale and the lease of social housing will fall to the Government. The law incentivises the construction of social housing by allowing social housing investors to build commercial housing on 20 per cent of the land dedicated to the social housing project, provided that they pay for the use of the land portion.

Source: Viet Nam News November 27, 2023 10:32 UTC