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Vietnam considers affordable housing plan
18 March 2008
According to Thanhniewnews, the ministry is now seeking feedback from the real estate sector on plans that would see construction projects over ten hectares in size required to include a portion of land for affordable housing.
Property prices are rising in the country due to a lack of properties, with prices for apartments in Ho Chi Minh City in some cases rises by 100 per cent in the lat year, the website has said.
Once the consultation has ended, the ministry will present final proposals to prime minister Nguyen Tan Dung.
It is proposed that 20 per cent of land on sites of ten hectares or more would have to be allocated to affordable housing, with what are deemed medium-sized apartments having to make up at least half of all apartment building projects.
Earlier this week, Viet Nam News reported that a deadline for real estate reports from all 64 provinces had passed, with the government using the reports to forecast land demand and property requirements.
Source: Adfero
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