Latest regulations to know when reselling social housing

According to Clause 7, Article 2 of the 2023 Housing Law, social housing is housing with State support for beneficiaries of housing support policies as prescribed. Therefore, not only the conditions for buying but also when wanting to sell social housing, individuals and organizations must meet certain conditions.

At Point d and Point dd, Clause 1, Article 89 of the 2023 Housing Law (effective from August 1, 2024), it clearly states: " The buyer of social housing is not allowed to resell the house within a minimum period of 5 years from the date of full payment for the house purchase, except for the case specified in Point d of this Clause ."

Specifically, within 5 years from the date the social housing buyer has fully paid for the house and has a need to sell this house, he/she can only resell it to the investor of the social housing construction investment project or resell it to the subject eligible to buy social housing at a maximum selling price equal to the selling price of this social housing in the sale contract with the investor of the social housing construction investment project. (Personal income tax payment is implemented in accordance with the provisions of the law on tax).

The 2023 Housing Law specifically stipulates the conditions and time limit for selling social housing.

In addition, Point e, Clause 4, Article 89 of the 2023 Housing Law also stipulates that after a period of 5 years from the date of full payment for the house purchase, the social housing buyer is allowed to resell this house according to the market mechanism to those in need if a Certificate has been granted.

The seller is not required to pay land use fees and income tax according to the provisions of the law on tax, except in the case of selling social housing which is an individual house, the seller must pay land use fees according to the provisions of the Government and must pay income tax according to the provisions of the law on tax.

Thus, this law stipulates that social housing cannot be bought or sold within a minimum period of 5 years from the date of full payment of the social housing purchase price to the investor.

If you want to sell it after less than 5 years, you can only sell it to the social housing management unit or to a person eligible to buy social housing.

In particular, normal trading can only be done according to market mechanism after 5 years from the date of full payment of purchase price and issuance of Certificate of Land Use Rights, but land use fee and personal income tax must be paid.

If the buyer is eligible to buy social housing, the maximum selling price is only equal to the selling price of the same type of social housing at the same location and is not required to pay personal income tax.

According to Clause 10, Article 88 of the 2023 Housing Law, if social housing is bought and sold not in accordance with regulations, before the permitted time limit, the Social Housing Purchase and Sale Contract has no legal value.

The buyer must hand over the social housing to the management unit. If the handover is not carried out, the People's Committee of the province where the housing is located will organize enforcement to reclaim the housing.

Chau Thu

Source: https://vtcnews.vn/quy-dinh-moi-nhat-can-biet-khi-ban-lai-nha-o-xa-hoi-ar911171.html