On July 24, 2024, the Government promulgated Decree 96/2024/ND-CP (Decree 96) to elaborate certain articles of the Law on Real Estate Business, replacing Decree 02/2022/ND-CP. Decree 96 takes effect from August 1, 2024

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.