Ashui.com | Hội Quy hoạch Phát triển Đô thị Việt Nam

Saturday
Feb 23rd
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home English
News

Property disputes mar development

Property disputes mar development

The country's legal system has not kept pace with rapid real estate development, triggering a number of disputes between investors and customers. 

There were many disputes between real estate investors – who made large profits in a short time –and home buyers, who felt that investors were not professional in their transactions, an expert said at a conference in Ha Noi yesterday. 

A new residential area in west Ha Noi. The capital city has seen an increase in disputes between real estate investors and home buyers. — VNS Photo Truong Vi 

Former deputy minister of Natural Resources and Environment, Dang Hung Vo singled out Le Van Luong Residential Project and Dai Thanh Apartment Building as areas where disputes had occurred over such issues as service fees and certificates of home ownership. 

The Law on Apartments and other legal documents lacked regulations on building management boards and other key issues, according to Vo. 

Moreover, contracts between investors and customers failed to protect the rights of home buyers or require supervision from authorities.

He proposed completing such regulations and urged investors to provide customers with legal information about projects.

State management agencies and associations should also implement drastic measures to resolve the disputes, he said.

Tran Huu Huynh, chairman of the Viet Nam International Arbitration Centre, agreed, saying the disputes would get more severe if State agencies and relating authorities did not intervene.

Lawyer Nguyen Truc Hien, director of the Viet Nam International Law Firm (Vilaf) Hong Duc, said that in several property projects, investors contributed only a small amount of the capital, while the rest was mobilised from customers and loans.

For this reason, investors were ready to run away from projects if there was a dispute, he pointed out. 

Lawyer Phan Vu Anh, former director of Vinaconex's legal department, said the Government could prevent hundreds of disputes by taking measures to make home buyers feel secure and encouraging banks to pour money into property projects given the quiet real estate market and increasing bad debt. 

(VNS) 

 
News

Vietnamese urban planners applaud smart city model

Vietnamese urban planners applaud smart city modelVietnamese urban planners have found that the Korea’s green U-City model is one of the best options for Vietnam’s urban development.  At the...
News

Social housing credit plan plagued by slow disbursement

Social housing credit plan plagued by slow disbursementA number of obstacles need to be removed to accelerate the disbursement of a $1.4 billion government preferential credit package to low-income homebuy...
News

Lighting expo opens in HCM City

Lighting expo opens in HCM CityThe latest lighting equipment and components are on display at the LED/OLED Lighting World Expo that opened yesterday at the Saigon Exhibition and Con...
News

Vietnamese should be allowed to gamble at casinos: Proposal

Vietnamese should be allowed to gamble at casinos: ProposalThe agency that verified a draft decree on casinos has proposed that Vietnamese be allowed to gamble at casinos on a pilot basis, said the chairman of...
News

Vietnam mulls opening ailing real estate market to foreign buyers

Vietnam mulls opening ailing real estate market to foreign buyersVietnam’s Ministry of Construction has proposed that foreigners residing in the country are given more chances to buy homes in Vietnam as part of ef...
News

Illusion of failure shrouds good deals

Illusion of failure shrouds good dealsReal estate has become one of the hottest merger and acquisition (M&A) sectors in recent years, however many of the facts about the deals are rare...
News

Saigon Airport Plaza completes first stage

Saigon Airport Plaza completes first stageHo Chi Minh City’s Saigon Airport Plaza – a mixed-use project of four components namely apartment, office, hotel/serviced apartment and shopping c...
News

Real estate M&A bustling

Real estate M&A bustlingThe real estate market has seen merger and acquisition (M&A) activity active over the past six months with some large projects changing hands whil...
News

Myanmar the new promised land

Myanmar the new promised landAs the Vietnam property market continues to struggle, some real estate firms are setting sights on more lucrative investments in Myanmar.  Leon ...
News

Hoi An’s olden days re-created at ongoing Quang Nam Festival

Hoi An’s olden days re-created at ongoing Quang Nam FestivalThe ancient Hoi An town of 100 years ago was vividly re-created at the ongoing 2013 Quang Nam Festival, which runs till June 26 with more exciting eve...
Trang 4 trong tổng số 25
Bảng quảng cáo

Tìm kiếm

Hiện có 1170 khách Trực tuyến

Quảng cáo