Real Estate Sector Flash - Amended Housing Law approved; Amended Land Law postponed to next NA meeting

During the sixth session of the 15th National Assembly (NA) held from October 23 to November 29, 2023, the NA passed the Amended Housing Law on November 27 and we think the Amended Real Estate Business Law will likely be passed on November 28.  Meanwhile, the NA postponed approval for the Amended Land Law at this session, according to its October 16 announcement. 

The final version of the Amended Housing Law has not yet been published but the NA announced that the effective date of the Amended Housing Law and the Amended Land Law will be from January 1, 2025. 

The drafts for three amended laws were submitted to the NA for their first consultation at its fourth session in October-November 2022 and for second consultation at its fifth session in May-June 2023. 

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