Status of condotel ownership may require further direction
May 09, 2023 | 10:22
Although a new decree will allow the issuing of ownership certificates to condotels, experts say the regulations will still be inadequate and need to be supplemented in the near future to create a good enough legal corridor for the thousands of condotels in the market.
Revised land law may not clear up condotel conditions
November 03, 2022 | 12:54
Although a draft revised Law on Land proposed by the Ministry of Natural Resources and Environment will not include condotels in its remit, experts still suggest the issue needs to be addressed to ensure clarity on differences in terms of business and regular accommodation.
Taking the right approach to the condotel legislation conundrum
May 19, 2022 | 17:17
The absence of legislation and clarity regarding condotel ownership has been a significant obstacle for property developers and the hospitality sector. In the last 7-10 years, there was a significant amount of investment in condotel products, mainly in resort areas alongside villas and hotels. These multi-segment developments have often been funded by the presale of villas and condotel units.
Condotel developing slows amid restrictions 1
September 09, 2020 | 08:00
Recent decisions to impose stricter management on condotels and officetels are pushing developers and investors into a miserable situation, as the whole real estate market reels from the pandemic impacts.
Condotel market faces gloomy prospects
August 03, 2020 | 10:00
The condotel market has faced a gloomy period due to low absorption rate while inventory has been on the rise, experts said.
Ministry proposes not allowing conversion of condotel into residential projects
July 20, 2020 | 08:32
The Ministry of Public Security has proposed not granting ownership certificates to allow condotels, tourist villas and officetels to be turned into residential projects.
More regulations needed to promote condotel market development
March 02, 2020 | 09:41
Detailed regulations are needed to promote a healthy condotel market, which has been going off-track for years due to an unclear legal framework, experts have said.
Court highlights Empire Group and Cocobay Danang for investigation
February 28, 2020 | 11:22
Danang People's Court has brought complaints and denunciations of Empire Group and its Cocobay Danang to the attention of Danang Public Security Department.
HoREA points out deficiency in new legal framework for condotel
February 26, 2020 | 14:33
The HoREA has lauded the MoNRE in bringing clarity to condotel and tourist villa regulations but pointed out that certain property types have been left out.
Brighter condotel future set for both investors and buyers
February 25, 2020 | 14:00
With new guidance on granting ownership being issued in Vietnam, condotel investors are seeing a light at the end of the tunnel after more than two years of uncertainty, with a strengthened market expected to appease both investors and buyers.
New regulations the first step towards condotel resurgence 1
February 24, 2020 | 09:00
Several years ago, a large wave of condotels was introduced to the market across Vietnam. According to the Ministry of Construction, since 2014 the coastal areas and islands such as Van Don, Halong, Danang, Nha Trang, Mui Ne, and Phu Quoc have all seen a boom in condotel supply.
Wading through current condotel entanglements
February 18, 2020 | 12:19
The condotel market has been stagnant for the last two years and many developers are falling on hard times.
Clearer legal framework on certifying condotel and officetel projects
February 17, 2020 | 19:17
The MoNRE has just issued a document to guide land-use regimes and ownership certification of non-residential construction, including condotel and officetel.
Homebuyers gather at Empire Group headquarters to claim condotels
February 15, 2020 | 09:00
Buyers of Cocobay Danang gathered at the headquarters of Empire Group, demanding the developer to either hand over units or terminates their contracts.
Cocobay calamity brings condotel pitfalls to fore
December 05, 2019 | 12:30
Condotel project Cocobay Danang – a tourism complex which features footballer Cristiano Ronaldo in its advertising – suffered a PR disaster last week as the developer reneged on its 12 per cent profit commitment, shedding doubt on the promises of other condotel schemes trying to attract second-home buyers with expectations of high profits. Ngoc Huong reports.
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