condotel
The view of a condotel project. The Government Inspectorate has proposed the prime minister stop licensing new condotel projects to avoid potential risks - Photo: TNO

Besides, the Government Inspectorate also proposed the Government leader direct the relevant ministries and localities to temporarily suspend licensing tourist villas and resort villas, Thanh Nien Online reported.

The suspension of granting licenses to condotel projects should stay until a legal framework for these projects is completed in line with the prime minister’s directive, according to the Government Inspectorate.

To complete the legal corridor, the Ministry of Construction has been told to cooperate with other ministries and departments to study and present obstacles facing condotel projects to the prime minister to eliminate the difficulties.

 

The construction of and investment in condotels have created some positive effects, including attracting a strong cash flow, promoting the development of tourism, creating jobs and increasing local budgets.

However, the development of these projects has posed multiple obstacles, mainly related to legal issues such as land use rights and the condotel ownership of secondary investors.

Condotels are not recognized as residential apartments, so buyers are not issued ownership certificates. No prevailing regulations governing condotels are found in the Land Law, the Law on Real Estate Business or the Civil Code. SGT

Ministry to inspect use of land for housing, condotel purposes

Ministry to inspect use of land for housing, condotel purposes

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HCM City tightens licensing of condotels, resort villas

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