Laws of Vietnam

To allow the People’s Committee of Ho Chi Minh City to continue the sale of State-owned villas in the inner city each with a land area of less than 500m2 and villas in the suburban areas according to their present state, except for those having already been planned by the City for their more efficient and reasonable use.

The villas shall be sold only to their current lawful tenants and the sale must be conducted in conformity with Decree No.61-CP of July 5, 1994 of the Government.

The selling prices of villas shall be determined on the basis of the price bracket stipulated in Decree No.61-CP. The land use levy of the villas shall be calculated as follows: for the land area within the residential land limit prescribed by the municipal People’s Committee, the price bracket stipulated in Decree No.61-CP shall apply; the price for the exceeding area shall be decided by the municipal People’s Committee in accordance with Decree No.87-CP of August 17, 1994 of the Government.- (Summary)