Restructuring real estate market, increasing social housing proportion

November 9, 2022
Posted in News
November 9, 2022 veps

However, the fields of these questioning contents still have some shortcomings. Therefore, the National Assembly proposed the Government, the Minister of Construction, relevant ministers, and agency leaders fully absorb the opinions of delegates and have effective solutions to overcome. In particular, they must focus on perfecting the legal system related to real estate, housing, and related regulations.

Especially, it is necessary to carefully prepare projects on revised Housing Law and Law on Real Estate Business to submit to the National Assembly for comments at the 5th session and approval at the 6th session; promote the restructuring of the real estate market toward a balance, increasing the proportion of social housing and houses for workers in industrial parks and economic zones; urgently remove difficulties and obstacles, cut administrative procedures to promote the development and construction of housing and real estate projects, especially in Hanoi and Ho Chi Minh City, and increase supply for the market; have effective policies to attract and create stable medium and long-term capital sources for the real estate market; strictly control capital mobilization of real estate enterprises through the issuance of corporate bonds.

Along with that, they must amend and perfect preferential policies to attract enterprises to invest in social housing projects, especially social housing for rent, and social housing for hire purchase; soon promulgate and effectively implement an investment project to build at least 1 million social housing apartments for low-income people and workers in industrial parks in the 2021-2030 period; have solutions to actively implement lending and support interest rates for projects to renovate old apartment buildings, build social housing, and houses for workers to buy, rent, and hire-purchase. Localities shall review and supplement the planning and allocate enough land funds for the development of social housing and houses for workers in accordance with regulations.

source: sggpnews