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Krihaat Glass Hill,
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Al Noor development,
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Al Sanaa Development,
Ras Al Khaimah |
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Prime Minister orders real-estate market overhaul to raise efficiency |
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HOME >> NEWS >> Prime Minister orders real-estate market overhaul to raise efficiency |
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 HA NOI — Prime Minister Nguyen Tan Dung has issued an instruction intended to boost development of the real-estate market and make its management more efficient.
The instruction, 01/2008/CT-TTg, orders the Construction Ministry to co-ordinate changes to the regulations for the establishment, appraisal and approval of housing projects.
Unreasonable regulations should be eliminated to shorten the time taken to complete projects and to encourage housing construction for low- and medium-income earners, it says.
The Natural Resources and Environment Ministry is instructed to co-ordinate changes to regulations to ensure that investors with the experience and finance needed for speedy construction are selected.
The Finance Ministry is to co-ordinate revision of the Land and Housing Tax Ordinance to increase the tax paid by owners of too many houses or too much land.
The Prime Minister has also instructed provincial and city people’s committees to check the progress of housing projects and new urban precincts and reclaim land where investors have either not built residences or have been too slow to complete their projects.
The Prime Minister’s instruction says that the price of rental offices and upmarket apartments has risen sharply in parts of HCM City and Ha Noi while the real-estate market in other localities is idle.
This is because available land in the two major cities is limited and compensation and land clearance face difficulties, it says.
The financial and monetary markets also directly affect the real-estate market while administrators in some cities and provinces have ignored the building of houses for low-income earners. — VNS
Source: http://vietnamnews.vnagency.com.vn/ |
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