New Regulations Under the 2023 Housing Law on the Management and Use of Apartment Buildings

On 29 June 2024, the National Assembly adopted Law No. 43/2024/QH15, which amends and supplements a number of articles of the Land Law No. 31/2024/QH15, the Housing Law No. 27/2023/QH15, the Law on Real Estate Business No. 29/2023/QH15, and the Law on Credit Institutions No. 32/2024/QH15. Notably, this law provides that Housing Law No. 27/2023/QH15, dated 27 November 2023 (the “2023 Housing Law”), takes effect on 1 August 2024, five months earlier than its previously scheduled effective date. In line with the National Assembly’s expectations and directives to address the outstanding issues under Housing Law No. 65/2014/QH13, dated 25 November 2014 (the “2014 Housing Law”), the 2023 Housing Law codifies certain provisions previously found in guiding documents and introduces a number of clearer regulations on the management of residential housing construction investment projects.