Use duration of condominiums contains no provision thereon

Firstly, the Law only prescribes the use duration of condominiums. Accordingly, the use duration of condominiums shall be determined on the basis of design documents and practical use duration of condominiums as stated in inspection conclusions of competent agencies. 

The use duration of a condominium based on design documents shall be clearly stated in the competent agency’s appraisal document in accordance with the construction law.
 

Besides, the Law adds more social housing support policy beneficiaries

• Learners and students of general universities, academies, universities, colleges, vocational schools and specialized schools as prescribed by law; pupils of public ethnic minority boarding schools.
• Enterprises, cooperatives and unions of cooperatives operating in industrial parks.

Additionally, principles on sale, lease-purchase and lease of social houses is changed Within 5 years from the date the social house purchaser makes full payment for the purchase of the house and wishes to sell this house, he/she may only resell the house to the social housing investment project owner or a subject eligible to purchase social houses at a sale price not exceeding the sale price of this social house stated in the purchase and sale contract signed with the social housing investment project owner.

The owner of an investment project on renovation and reconstruction of condominiums is exempted from land use levy and land rental for land areas subject to land use levy or land rental within the project’s scope.

Besides, the project owner is not required to carry out procedures for determining land prices and calculating land use levy and land rental to be exempted as well as procedures for requesting exemption from land use levy or land rental

Owners of social housing investment projects shall get the profits not exceeding 10% of the total construction investment cost for the social housing construction area; Setting aside at most 20% of the total residential land area within the projects’ land areas with technical infrastructure systems for building service and commercial facilities and commercial houses.