The ministry said the revised draft Housing Law would continue to be refined before being submitted to the relevant authorities for review.
An earlier draft proposed ending apartment ownership once a building reached the end of its design life or was deemed unsafe and required demolition.
The proposal would have allowed provincial authorities to decide whether a building's lifespan could be extended following safety inspections. If not, it would have been demolished in accordance with the law.
Under the previous draft, owners opting out of rebuilding projects would have been compensated for their land-use rights, while eligible residents could have been resettled on site.
The ministry has dropped the fixed-term ownership proposal, but the draft still requires safety assessments of apartment buildings under construction regulations.
The HCM City Real Estate Association (HoREA) had opposed the proposal, arguing it could undermine confidence in apartment ownership and create inconsistencies with existing housing and land laws.