The types of real estate put into business include many diverse forms, from houses, land to commercial buildings. The Law on Real Estate Business 2023 specifically regulates conditions, processes and procedures related to this activity. The following article will analyze in detail the types of real estate allowed for business and the legal requirements that need to be complied with.

Overview of real estate business activities

Real estate business is an important investment field in the economy. Clause 1, Article 3 of the Law on Real Estate Business 2023 clearly defines the scope of this activity. Specifically, real estate business includes capital investment activities to generate profits from real estate.

Popular forms of real estate business include:

• Creating houses, construction works, land use rights with technical infrastructure in real estate projects for sale and transfer
• Lease, sublease, lease purchase of houses and construction works
• Leasing or subleasing land use rights with technical infrastructure in real estate projects
• Transfer of real estate projects
• Real estate service business

Real estate business activities are governed by many legal documents such as the Land Law, Housing Law, and Construction Law. However, the Law on Real Estate Business 2023 is the most important legal document, specifically regulating the conditions, order and procedures in this activity.

Types of real estate are put into business today

Article 5 of the Law on Real Estate Business 2023 specifically regulates the types of real estate allowed for business. This classification helps market participants clearly understand the scope of activities permitted by law.

Types of real estate put into business include:

• Housing is available and will be formed in the future
• Existing construction works, construction works formed in the future, including construction works with functions serving educational, medical, sports, cultural, office, commercial and service purposes , tourism, accommodation, industrial and construction works with mixed service functions.
• The construction floor area of ​​a construction project is as prescribed in Clause 2.
• Land use rights with technical infrastructure in real estate projects
• Real estate project

The condition of the property is included in the business

Article 14 of the Law on Real Estate Business 2023 stipulates the conditions that houses and construction works must meet when put into business as follows:

1. For houses and regular construction projects:

• Have a certificate of house ownership, land use rights or other certificates according to the provisions of land law.
• Not subject to disputes over land use rights, housing, or construction works.
• Not subject to distraint to ensure execution of judgment.
• Not subject to transaction ban or suspension.
• Information has been disclosed according to regulations.

1. For houses and construction works in real estate projects:

Must meet the conditions in section 1 above (except for ownership certificate requirements) and additional conditions:

• The project must comply with the provisions of Article 11 of the Law.
• Housing and construction projects have been accepted according to legal regulations on construction
• The investor has completed financial obligations related to land.

Subjects are allowed to buy, rent, or lease-purchase existing houses and construction works from real estate businesses

Pursuant to the provisions of Article 15 of the Law on Real Estate Business 2023, the cases of buying, renting, or lease-purchasing available houses and construction works from real estate enterprises are specified as follows:

1. Domestic organizations and individuals, Vietnamese residing abroad who are Vietnamese citizens, and economic organizations with foreign investment capital specified in Clause 5, Article 10 of this Law are entitled to buy, rent, or lease-purchase houses. residential, construction works, construction floor area in construction works for use and business.
2. Foreign organizations, foreign individuals, and Vietnamese people residing abroad who are not Vietnamese citizens are allowed to buy, lease, and purchase housing according to the provisions of housing law. Vietnamese people residing abroad who are not Vietnamese citizens are allowed to buy, rent, or hire-purchase construction projects and construction floor areas in construction projects to use according to the construction’s functions. build.
3. Economic organizations with foreign investment capital specified in Clause 4, Article 10 of this Law that are legally operating in Vietnam are entitled to buy and rent housing for use; to rent residential houses for business purposes according to the provisions of this Law; to buy or rent construction works and construction floor areas in construction works of real estate project investors or real estate businesses to use according to the functions of the construction works to restore service for its activities; renting a construction project, the construction floor area in a construction project to sublease and use according to the construction’s functions.
4. Foreign organizations that are legally operating in Vietnam and foreign individuals that are legally residing in Vietnam are allowed to rent construction works to use according to the functions of the construction works. service for its activities.
5. Subjects eligible to buy, rent, or lease-purchase social housing shall comply with the provisions of the Housing Law.

Real estate business requires compliance with many complex legal regulations. Customers who need detailed advice on types of real estate permitted for business and related procedures, please contact Long Phan via hotline. 0906735386. Our team of experts will assist and advise you.