Government to create more housing investment funds

The Vietnamese government is on a way to building a new housing development strategy, in which it will establish a series of housing development funds, aiming to increase housing supply for the domestic demands.

The information was released at the meeting of the Central Steering Committee on housing and real estate market in Hanoi on May 20.
These funds are considered a breakthrough for the improvement of the State managerial efficiency of the housing market, as well as developing the market in a balance and stable way.

The current funds for housing development are mainly from the businesses themselves, banking loans, and residents’ contribution. However, the mobilisation of these sources is still meeting with many difficulties, even in legal frame work, according to deputy minister of Construction Nguy?n Tr?n Nam.

Therefore, the government is drafting a housing development strategy, in which it put forth procedures for creating the main funds for that purpose, namely housing development fund, saving fund for housing, and real estate investment fund.

The housing development fund is already incorporated in the Housing Law but it has not been paid due care by many localities. Meanwhile, the other two funds are still new in Vi?t Nam.

Addressing the meeting, deputy PM Hoang Trung Hai asked for quick finalisation of the draft strategy in order to maximise and diversify the investment sources for housing development.

Posted by VBN on May 26 2011. Filed under Economy News, Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry