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THE GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No: 61-CP
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Hanoi, July 05, 1994
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DECREE
OF
DWELLING HOUSE PURCHASE, SALE AND BUSINESS
THE GOVERNMENT
Proceeding from the Law on the Organization
of Government on the 30th of September 1992;
Proceeding from the Land Law on the 14th of July 1993;
Proceeding from the Ordinance on Dwelling Houses on the 26th of March 1991;
At the proposal of the Minister of Construction, the Minister of Finance, and
the Head of the Government Pricing Committee,
DECREES:
Chapter I
GENERAL
PROVISIONS
Article 1.- Dwelling
houses covered in this Decree are dwelling houses in all forms of ownership.
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1. Sale of dwelling houses owned by the State
to lessees;
2. Trading in dwelling houses;
3. Purchase and sale of dwelling houses not
for business purpose.
Article 3.- The
purchase and sale of dwelling houses is the transfer of the house ownership and
land-use right from the selling party to the purchasing party through a written
and signed contract in accordance with law. The selling party must be the legal
owner of the dwelling house and the legal user of the residential land. In all
other cases, the selling party must be delegated to do so by the legal owner of
the dwelling house and the legal user of the residential land and certified by
the Notary Public.
Article 4.- The
State shall set the standard floor prices for newly built dwelling houses and
for residential land on the transfer of the right to use it, and the standard
floor prices for the leasing of dwelling houses as basis for the management of
dwelling house purchase, sale and trading.
Chapter II
SALE
OF DWELLING HOUSES OWNED BY THE STATE TO LESSEES
Article 5.- The
State will sell to lessees all or part of dwelling houses it owns and rents to
them, so that the lessees may upgrade their living place, except the following
dwelling houses:
1. Dwelling houses in the area planned for
the building of new projects or for the renovation of old dwelling houses;
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3. Villas planned for use as public buildings
or for other purposes.
Article 6.- The
purchase of dwelling houses owned by the State is voluntary. If the lessees do
not want to buy, they can continue to rent it. If lessees of the houses mentioned
at Items (1), (2), (3), Article 5, of this Decree want to buy houses, they
shall be considered for buying other houses also owned by the State in
accordance with this Decree, but they must return to the State the housing
space they are renting.
Article 7.- The
selling price of State-owned dwelling houses to the lessees concerned includes
the price of the dwelling house and the price of residential land at the time
of transfer of the right to use the land.
1. The price of a dwelling house shall be determined
by evaluating its remaining value and the coefficient for regulating its use
value:
a/ The remaining value of a dwelling house
shall be determined on the basis of the remaining percentage of the value of
the house, compared with the price of building a new house, as stipulated by
the People's Committees of provinces and cities directly under the Central
Government (hereunder referred to as provincial level) based on the standard
floor price for building a new house stipulated by the State. This percentage
shall be determined for each specific housing space to be sold, taking into
account the time for which it has been used and the actual state of the house.
The Ministry of Construction, the Ministry of
Finance and the Government Pricing Committee shall guide the way to determine
the remaining value of a dwelling house.
b/ The coefficient for regulating the use
value of a house is stipulated as follows:
- 1.2 for the first floor and one-story
houses
- 1.1 for the second floor
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- 0.9 for the fourth floor
- 0.8 for the fifth floor
- 0.7 for the sixth and higher floor.
2. The price of residential land when the
land-use right is transferred, shall be set by the provincial People's
Committee on the basis of the land price frame set forth by the State, the
location of the land, and the floor of the housing space:
a/ For one-story and multi-story house leased
to a household, it will pay 40% of the land price when the right to use land is
transferred.
b/ For multi-story houses jointly leased to
many households, they will pay 10% of the land price when the right to use land
is transferred, according to the following table:
Houses
Coefficients for
stories
1st floor
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3rd floor
4th floor
5th floor
6th floor and
higher
2 stories
3 stories
4 stories
5 stories and more
0.7
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0.7
0.7
0.3
0.2
0.15
0.15
0.1
0.1
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0.05
0.05
0.02
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0.0
Article 8.-
1. The selling party
is the Director of the Housing Company under the provincial housing and land
service, the President or Vice-President of the People's Committee in a
province, town, precinct or district (where there is no housing company) which
is managing the house.
2. For State-owned dwelling houses which are
being managed by administrative offices, the armed forces, people's
organizations, political and social organizations, and State-owned enterprises,
and which are eligible for sale, the transfer of ownership to the seller must
be made in accordance with law.
3. The Provincial People's Committee shall
submit the proposal for sale of dwelling houses to the People's Council of the
same level for approval before the sale. For Hanoi and Ho Chi Minh City, after
the proposal is approved by the Municipal People's Council, it must be ratified
by the Prime Minister.
To assist the Provincial People's Committee
in the sale of a house, the President of the Provincial People's Committee must
set up a dwelling house-selling council with a leading member of the Provincial
People's Committee as chairman, and representatives of the Housing and Land
Office, the Construction Service, the Chief Architect (if any), the
Finance-Pricing Service, the Land Administration Office, the provincial
chapters of the General Federation of Labor and the Fatherland Front, and the
seller, as members, as stipulated in Item 1 of this Article.
The House-Selling Council shall prepare a
house-selling plan with specifications as to the location of the houses, the
categories of the houses and the plan to sell them; prepare the pricing lists
and sale regulations, and organize the sale of the houses according to the plan
already approved, and make periodical reports on the results to the Provincial
People's Committee.
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Article 9.- The
buyer of State-owned dwelling houses shall:
1. Pay in the Vietnamese currency;
2. Within a period of no more than 10 years.
The first installment paid after the signing of the contract shall not be less
than 20% of the total amount. The remaining sum will be converted into 98% gold
for subsequent installments, and in each of the following years, no less than
8% of the total amount must be paid.
If the buyer pays the full amount upon
signing the contract, he/she will enjoy a 10% discount. If the buyer pays the
full amount within a year, he/she will enjoy a 2% discount.
3. In case the buyer fails to pay the full
amount within the period defined in the contract, or fails to pay as stipulated
at Item 2 of this Article, without plausible reason, the seller can
unilaterally cancel the contract and return to the buyer the sum already
received after deducting from it a fine equal to 5% of the contract's value.
The buyer must pay all the unpaid rent if he/she is to be allowed to continue
renting the house in accordance with law.
4. In case the buyer has not yet paid the
full amount and is moving to another place, he/she can continue to pay the
remaining installments in order to be issued a certificate of ownership of the
house and of the right to use the land. If the buyer dies, his/her heirs are
allowed to continue the payment for the house in order to be issued a
certificate of ownership of the house and the right to use the land.
In all other cases, Items of this Article
shall apply.
5. For the dwelling house, the construction
cost of which is partly paid by an individual or a collective with money not
originating from the State budget, the House Selling Council shall calculate
the remaining amount the buyer must pay at the price stipulated at Article 7 of
this Decree after comparing the sum he/she has already paid and the
construction cost of the house.
Article 10.- After paying the full price of the house and the house
registration fee, the buyer shall be issued a certificate of ownership of the
house and the right to use the land, if he/she re-sells it, the State shall
regulate the income arising from the sale of the house and the transfer of the
right to use the land in accordance with law.
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1. Building dwelling houses for rent or for
sale as stipulated by this Decree to those who have no house or whose house is
too small;
2. Building dwelling houses for sale or for
rent to those households who are living in the houses mentioned in Items (1),
(2), (3), Article 5, of this Decree;
3. Building infrastructure facilities at
locations already planned for house construction;
4. Upgrading 4th-grade dwelling houses into
multi-story dwelling buildings for sale or for rent;
5. Ameliorating residential quarters in too
bad conditions;
6. Implementing the social welfare policy on
housing.
The estimate expenses for the sale of
dwelling houses shall be calculated by the seller submitted by the House
Selling Council to the President of the Provincial People's Committee for
approval, and covered by the revenues from house sales;
The Ministry of Finance shall guide the
collection, remittance and use of the sale of dwelling houses in conformity
with the stipulations of this Article.
Chapter III
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Article 12.- The dwelling house business covered by this Decree is the
execution of one, several or all of the following profit-generating activities:
1. Renting dwelling houses;
2. Selling and purchasing dwelling houses;
3. Receiving land-use right to build dwelling
houses for sale or rent; investing in infrastructural construction in
accordance with housing plans in order to assign land-use right.
4. Service in dwelling house purchase, sale
and rental.
Article 13.- Domestic organizations and individual Vietnamese citizens
residing in Vietnam are allowed to deal in dwelling houses and are
obligated to fully observe regulations on business founding and licensing, and
other prescriptions of law.
Article 14.- Organizations and individuals engaged in dwelling house
business shall pay for the use or lease of residential land in accordance with
the Land Law, and shall use the land for the right purpose and according to
plan, and observe all procedures concerning capital construction as prescribed
by law.
Article 15.- Prices in the dwelling house business, which include the
sale price, rents and service fees in purchase, sale and rental, are the prices
agreed upon through bargaining among the parties and written in the contract.
Rents on dwelling houses owned by the State
and house rents for resident foreigners and overseas Vietnamese shall be
charged in accordance with law.
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Chapter IV
PURCHASE
AND SALE OF DWELLING HOUSES NOT FOR BUSINESS
PURPOSE
Article 17.- The purchase and sale of dwelling houses not for business
purpose are the transfer of the house ownership and land-use right from the
selling party to the purchasing party through a written and signed contract,
when the selling party sells the house it no longer has the need to use, or
sells the house it has inherited or received as gift, and when the purchasing
party has the need to purchase the house for use.
Article 18.- Domestic organizations and individual Vietnamese citizens
residing in Vietnam are allowed to purchase and sell dwelling houses not
for business purpose.
Article 19.- An
individual who is a foreigner residing in Vietnam is allowed to purchase one
dwelling house from Vietnamese State enterprise specialized in housing business
for the use of his/her own and his/her family members in the locality they are
permitted to reside.
Article 20.- Parties to the purchase and sale of dwelling houses have
the duty to pay taxes and fees in accordance with law.
The prices on which to calculate the taxes
are those prescribed in the contracts. However, in any case, these prices shall
not be lower than those prescribed by the President of the Provincial People's
Committee.
Chapter V
STATE
MANAGEMENT OF DWELLING HOUSE PURCHASE, SALE AND BUSINESS
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The President of the Provincial People's
Committee is responsible for the exercise of State management over these
activities in his/her locality.
Article 22.- The President of the Provincial People's Committee shall,
on the basis of the price list for land categories issued by the Government and
the standard floor prices for new houses (Appendix 1 to this Decree) and
standard floor house rental (Appendix 2 to this Decree), issue the detailed
rates for residential land in the transfer of the land-use right, the prices of
new houses and house rental in his/her locality. The prices set by the
President of the Provincial People's Committee shall be the basis for
management of activities in dwelling house purchase, sale and rental in the
locality.
In case the market price rises 20% or more
above the price frames or the standard floor prices prescribed in the
appendices to this Decree, the Ministries of Construction and Finance and the
Government Pricing Committee shall jointly propose the Government to adjust
these price lists accordingly.
Article 23.- The State has priority in purchasing dwelling houses when
it deems necessary. In these cases, the State is obligated to fully discharge
the duties of the purchasing party in accordance with the provisions of the
contract it has signed.
Article 24.- The Ministry of Finance shall provide guides on the
revenues and taxes to be remitted to the State budget from all activities in
dwelling house purchase, sale and business.
Article 25.- The Ministries of Construction and Finance shall issue
detailed provisions for the management of activities in dwelling house
purchase, sale and rental.
Chapter VI
PROVISIONS
FOR IMPLEMENTATION
Article 26.- This Decree takes effect from the date of signing. All
previous provisions which are contrary to this Decree are annulled. All
violations shall, depending on their extent, be disciplined, administratively
sanctioned, or investigated for criminal liability in accordance with law.
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Article 28.- The Ministers, the Heads of the ministerial-level agencies,
the Heads of the agencies attached to the Government, the Presidents of the
People's Committees of the provinces and cities directly under the Central
Government are responsible for the implementation on this Decree.
ON BEHALF OF THE
GOVERNMENT
PRIME MINISTER
Vo Van Kiet
APPENDIX
1
STANDARD
FLOOR PRICES FOR NEW DWELLING HOUSES
(Attached to Decree
No. 61-CP issued on the 5th of July, 1994 by the Government)
Unit: 1,000 VND/sq.m.
of floor space)
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Regions
Villas (class)
Houses (category)
I
II
III
IV
I
II
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IV
1
2
3
4
5
6
7
Hanoi City
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Class II urban area
Red River delta
Mekong delta
Mid-land
Mountainous area
1,100
1,200
1,100
900
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1,100
1,100
1,200
1,500
1,200
1,100
1,200
1,200
1,300
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1,600
1,300
1,200
1,300
1,300
1,500
2,000
2,000
2,000
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2,000
2,000
2,000
900
1,000
800
800
1,000
900
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800
900
700
700
900
700
800
550
550
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400
450
450
400
400
400
300
300
300
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250
APPENDIX
2
STANDARD
FLOOR PRICES FOR HOUSE RENTAL
(For Vietnamese
citizens engaged in dwelling house business)
(Attached to Decree
No. 61-CP issued on the 5th of July 1994 by the Government)
1. Standard prices
Unit: VND/sq.m. of
floor space/month
Villa (Class)
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I
II
III
IV
I
II
III
IV
4,900
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6,800
7,800
3,600
3,300
2,800
2,100
2. Co-efficients for adjustment of standard
prices:
(1 + 
)
a) Co-efficients for urban houses (K1)
Urban houses
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I
II
III
IV
V
K1
+0.2
+0.1
0.0
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-0.15
b) Co-efficient for geographic areas (K2)
Area
Co-efficient
Center
Near-center
Suburban
K2
0.0
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-0.2
c) Co-efficients for floors (K3)
Floor
Co-efficient
I
II
III
IV
V
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K3
+0.25
+0.05
0.0
-0.1
-0.2
-0.3
d) Co-efficients for transportation
conditions (K4)
Communication
conditions
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Accessible for non-motorized vehicles
Accessible for motorized vehicles
K4
0.0
+0.2