Inspections into condo buildings to be launched at end-March

The Ministry of Construction will collaborate with the National Assembly Legislation Committee to launch inspections into the management and operation of apartment buildings in HCMC by end-March.

The inspection team will scrutinize operational condo buildings involved in disputes.

The team will review and clarify disputes related to parking lots, the calculation of apartment areas, apartment lease duration, maintenance fees, fire fighting and prevention measures, the organization of conventions in apartment buildings and procedures for granting certificates of land use rights.

Talking about the governance and use of apartments, especially the handling of disputes, the HCMC Real Estate Association (HoREA) has proposed the Ministry of Construction adopt coercive measures to force investors to hand over maintenance funds for these buildings to the management boards, apart from working out solutions that require management units and operators of buildings to prove their financial capability.

Also, HoREA suggested the ministry impose harsh penalties on investors who mortgage apartment buildings and housing projects but do not lift the mortgages or get the approval of home buyers.

Further, strict sanctions should be levied on investors who let residents stay in buildings that have yet to be completed, according to HoREA’s proposal.

In addition, the ministry was asked to issue regulations on design criteria and the minimum area required of a commercial apartment as soon as possible, in addition to issuing standards for shophouses, officetels and serviced apartments.

HoREA proposed the ministry consider launching an Apartment Law to further develop apartment buildings in the coming period.

Statistics from the HCMC Department of Construction show that the city has 1,367 condo blocks consisting of over 141,000 units, doubling the figure seen in 2009. These buildings cover a total floor area of more than 10 million square meters.

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