Intermediate levels of property rights and the emerging housing market in Ho Chi Minh City, Vietnam

Truong Thien Thu, Ranjith Perera

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Vietnam introduced a Policy of Renovation ('Doi Moi' Policy) to restructure the economy in 1986. Under this policy, the Land Use Right Certificate was introduced as a form of tenure for agricultural land and urban land, according to the Land Laws of 1987 and 1993, respectively. However, by 2001, most properties and/or land in Vietnam still did not have a legal title. Although Vietnam's land reforms in the 1990s provided some of the weakest private rights among the transition countries, big cities like Ho Chi Minh City are presently homes to thriving housing markets. Transactions of 'property without a physical entity and legal title' in the real estate market show how property ownership can be formed in order to operate within different institutional contexts. This paper highlights that 'intermediate levels of property rights' are the driving forces behind the thriving housing market in Ho Chi Minh City.

Original languageEnglish
Pages (from-to)124-138
Number of pages15
JournalLand Use Policy
Volume28
Issue number1
DOIs
Publication statusPublished - Jan 2011

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Keywords

  • Emerging housing market
  • Property ownership
  • Property rights
  • Vietnam

ASJC Scopus subject areas

  • Forestry
  • Geography, Planning and Development
  • Nature and Landscape Conservation
  • Management, Monitoring, Policy and Law

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