The MONRE''s proposal is to develop a National Assembly Resolution allowing pilot commercial housing projects through land use rights agreements, even for non-residential land.
The Ministry of Construction has proposed reforming administrative procedures to favourable conditions for the development of low-cost, compact social and commercial housing.
The central city’s construction department has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Son Tra peninsula and six in the downtown Hai Chau district.
A credit package worth some US$952.38 million will be released to support homebuyers interested in commercial and urban housing projects, reported Xay Dung, the Ministry of Construction''s e-paper.
The State Bank of Viet Nam has submitted a credit package worth of VND50
trillion (US$2.3 billion) to support the local commercial housing
market during its recovery period.
The central city''s food joint-stock company, Danafood, began
construction of its first commercial housing project in the downtown
area, with a total investment of VND600 billion (US$28.6 million), on
Tuesday.
Becoming a middle-income
country has brought enormous challenges for Viet Nam, including the
danger of getting caught in the so-called middle-income trap.
The Ministry of Finance has promulgated circular 141 stipulating the
reduction of the current 10 per cent value-added tax (VAT) to 5 per cent
for selling and leasing commercial housing projects with an aim to
promote purchasing power.
Ha Noi will halt the licensing of new commercial housing projects in the
centre in three years'' time, according to the city''s proposed Housing
Development Programme for the 2012-20 period.
Downtown commercial housing projects may not be converted for other purposes or split into smaller sizes, according to a proposal by the Construction Department.