Under Decree 10 issued by the Government , buyers of condotels, officetels, and resort villas have ownership certificates from May 20.
The ownership term of the condotel depends on the purpose of land use following current regulations but not exceeding 50 years of the ownership term for land allocated or leased by the State for commercial or service use.
Buyers may only own land and apartments during the remaining land use period, not for long-term use as residential land.
For many years, resort real estate development has been seen as a way to develop tourism infrastructure to achieve the goals of the Vietnam Tourism Development Strategy.
According to this strategy, Vietnam targets to become an attractive tourist destination by 2030 and in the world's top 30 countries in terms of tourism competitiveness./.
