ASSIGNING REAL ESTATE IDENTIFICATION CODES FROM MARCH 1, 2026: A CATALYST FOR MARKET TRANSPARENCY AND STANDARDIZATION

From March 1, 2026, every real estate property in Vietnam will be assigned its own digital “identity card.”

This regulation is stipulated in Government Decree 357/2025/ND-CP on the development, management, and operation of the information system and database for housing and the real estate market, officially taking effect on March 1, 2026.

Accordingly, all types of real estate — from individual houses and condominium units to floor areas within construction works — will be issued a unique electronic identification code. This code is considered a “digital identity card” for each asset, helping to enhance transparency in legal status, pricing, and transaction history in the market.

The identification code is an alphanumeric string of up to 40 characters, automatically generated within the national data system. Each code is assigned exclusively to one property and remains attached to it throughout its entire lifecycle, from formation and operation to transactions, transfers, or mortgages.

The structure of the code is built by integrating multiple layers of data, including land parcel identifiers, project or construction codes, location information, and additional characters to ensure uniqueness. The assignment and management of these codes will be handled by local Departments of Construction through the housing and real estate market database system.

The implementation of this electronic identification system aims to establish a centralized and synchronized database from the central to local levels, addressing the issue of fragmented and inconsistent information across management agencies.

Once applied, all property-related information — such as legal status, planning data, project progress, transaction prices, notarized contracts, and historical changes — will be continuously connected and updated on a unified platform.

For the market, this is expected to serve as a tool to reduce transaction risks. Buyers can proactively verify legal information and property history before making purchasing decisions, while authorities gain a stronger basis to monitor price fluctuations, detect irregularities, and limit practices such as “dual pricing” or inaccurate declarations.

Experts assess that assigning digital IDs to each property is an important step in the digital transformation of the housing and real estate sector, meeting management demands as the market continues to expand and transactions become increasingly complex.

However, the effectiveness of this policy will largely depend on the quality of input data, the level of integration between land, construction, tax, and notary databases, as well as the public’s ability to access and retrieve information.

Between now and the official implementation date, local authorities are required to complete technical infrastructure and review and standardize existing data to ensure nationwide synchronization.

The introduction of a digital “identity card” for each property not only transforms state management practices but also establishes a new standard for real estate developers.

In its long-term strategy, Victory Group aims to build a development–construction–distribution ecosystem based on transparent data and digital governance, in order to adapt to the ongoing digital transformation of Vietnam’s real estate market.