The PM made the point on December 19 at his working with the municipal officials on ways to solve difficulties in the real estate market.
PM Dung said that the stagnant real estate market originated from weak management and planning work, proposing the city focus on planning work, develop the social housing market and apply policies to enable low-income people to afford housing.
The local authorities should streamline administrative procedures in real estate transactions and examine the enforcement of regulations on land, investment, housing development and real estate businesses.
The Government chief touched upon the restructuring of businesses involved in the field to provide suitable, affordable products for the market.
The State Bank of Viet Nam was asked to handle non-performing debts, establish a risk prevention fund and assist people in purchasing social houses.
The PM also requested the ministries, agencies and Ha Noi to strengthen information transparency in the real estate market, conduct drastic and general measures to clear difficulties in the market, and defrost the real estate market towards a healthy and sustainable development.
According to Chairman of Ha Noi’s People Committee Nguyen The Thao, the local quiet market stemmed from overheating growth. Speculation and imbalance in the housing markets especially high-end apartments were attributed to uncontrolled rising prices in the housing markets. In addition, the segment of accommodations for medium and low-income people still remains insufficient.
So far, Ha Noi has inventory of almost 5,800 apartments and 330 low-income apartments.
Construction Minister Trinh Dinh Dung said that the frozen real estate market in Ha Noi appeared in a slower and less dramatic manner than that in HCM City.
He proposed the local authorities review housing projects to be developed in new urban areas; classify what projects should be prioritized; suspend projects with slow site clearance and adjust apartment structure in line with demands and people’s affordable budget.
Deputy PM Hoang Trung Hai proposed commercial banks extending credits for buyers and offer new types of land lease to catch up with people’s demands for housing./.
Source : VGP