After 8 years from promulgation of the Law on Real Estate Business 66/2014/QH13 (Law on Real Estate Business 2014), the implementation of this law still has many shortcomings, causing difficulties and hindering business activities, transactions in the real estate market. Realizing the urgency in completing the provisions of the Law on Real Estate Business 2014, in order to remove obstacles, difficulties from the remaining shortcomings, on November 28, 2023, the National Assembly promulgated the Law on Real Estate Business 29/2023/QH15 (Law on Real Estate Business 2023), effective from August 1, 2024. This article will focus on analyzing some important amendments of the Law on Real Estate Business 2023, specifically as follows:
(i) Expanding the forms and scopes of business of entities conducting real estate business;
(ii) Innovating the conditions for real estate brokerage service business;
(iii) Supplementing detailed regulations on the establishment, registration and operating conditions of real estate trading floors;
(iv) Supplementing regulations on deposits in the sale, lease-purchase of houses, construction works formed in the future;
(v) Adjusting regulations on conditions for transfer of the whole or part of real estate projects.
