Prime Minister Pham Minh Chinh has issued an official dispatch emphasising the urgent need to address obstacles hindering the progress of social housing projects, aiming to enhance the effectiveness of social housing development and meet the growing demands of people.
Prime Minister Pham Minh Chinh has signed an official dispatch, urging the acceleration of state budget collection, particularly from land-related sources, in the final month of 2024, aiming to achieve the highest possible state budget revenue, laying a strong foundation for successfully implementing socio-economic tasks for 2025 and the 2026-2030 period.
Prime Minister Pham Minh Chinh has signed to issue an official dispatch directing ministries, sectors, and localities to effectively implement the Land Law, Housing Law, and Real Estate Business Law, all of which came into force on August 1.
More than 17,100 apartments and land plots of real estate projects across the country remain on the market in the second quarter of this year, with land plots and houses doubling that of apartments, the Ministry of Construction (MoC) reported on August 14.
Prime Minister Pham Minh Chinh has signed to issue an official dispatch directing ministries, sectors, and localities to effectively implement the Land Law, Housing Law, and Real Estate Business Law, all of which came into force simultaneously on August 1.
The new Land Law, the Law on Real Estate Business, and the Housing Law should ease bottlenecks in the sector, helping improve supply and transparency in Vietnam’s real estate market.
The Land Law, the Law on Real Estate Business, and the Housing Law, all to be effective from August 1, are expected to help remove pending roadblocks to real estate projects and promote the transparency of the market, according to insiders.
The Ministry of Planning and Investment has provided updates for economic growth scenarios in the second half of this year, in which the Vietnamese economy could beat forecasts and expand at 7% for the full year.
Under the chair of Vice Chairman of the National Assembly (NA) Nguyen Duc Hai, the legislature on June 29 voted for approval of the Law on amendments and supplements to a number of articles of the Law on Land, the Law on Housing, the Law on Real Estate Business and the Law on Credit Institutions.
The Ministry of Construction (MoC) has been demanded to coordinate with other ministries and sectors to minimise processes and procedures for implementing social housing projects.
The Land Law 2024, which creates a smooth legal corridor for overseas Vietnamese (OV) to invest in housing in Vietnam, is expected to help Vietnam attract billions of dollars of remittances each year, contributing to promoting the growth of the real estate sector, according to insiders.
Ministries, sectors, and localities have been building documents providing detailed guidance for the implementation of the Land Law so that the law can take effect on July 1, 2024, instead of January 1, 2025 as previously planned, said Deputy Minister of Natural Resources and Environment Le Minh Ngan.
The Land Law (revised), which expands land use rights for overseas Vietnamese and Vietnamese citizens residing abroad, meets the aspirations of overseas Vietnamese and contributes to mobilising investment resources to Vietnam at the same time, according to experts.
The regulations related to overseas Vietnamese (OVs) in the revised laws on land, housing, and real estate business were disseminated to expatriate at a hybrid conference on March 26.
Prime Minister Pham Minh Chinh on March 16 urged the plan on building at least 1 million social housing units for low-income earners and industrial workers in the 2021 - 2030 period to be implemented quickly and effectively.
House buyers in the capital can pin hopes on new supply coming from infrastructure development this year, which is expected to push up demand for housing in neighbouring localities with reasonable prices and larger land reserves.
Policies are in place to tackle difficulties and increase support to facilitate the development of social housing, which include those issued to boost the building of accommodations for workers of industrial parks and members of the armed forces.
The newly approved Land Law, Housing Law, and Law on Real Estate Business, which will take effect from 2025, are expected to create more favourable conditions for Overseas Vietnamese (OVs) in owning and trading real estate, according to experts.
