On 18 January 2024, the National Assembly passed the amendment to the Land Law. This new law coupled with the new Housing Law 2023 and Law on Real Estate Business 2023 – passed in 4Q 2023 – completes the government’s revision of the legal framework for the real estate market. The new laws will help developers to secure legal approvals required to develop and commercialize new projects, guide developers to fund their project developments prudently and improve new home supply to meet market demand.
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