On 30th September, 2011, Prime Minister Nguyen Tan Dung approved the national housing development strategy to year 2020 and vision to 2030 at Decision No 2127/QD-TTg.
The purpose of strategy is in the period of 2011-2015, striving to build at least 10 billion m2 of social housing to solve the problem of accommodation for the low income people at the urban area (mainly condominium). In particularly, the strategy meets about 60% of students from universities, colleges, professional secondary, vocational and 50% of workers at those industrial zones who need to get accommodation to complete the support for approximately of 400.000 poor families (following new standard of the poor) at improved rural areas.
At the same time, in the period of 2016 – 2020, striving permanent housing rate will be about 70%, the proportion of condominium in the housing development projects of those special urban (Hanoi and HCM city) will reach of 90%, rental housing rate at least 30% of total housing stock of the urban of class III upward. The target of year 2030, the average housing will be about 30 m2/person, minimum housing of 12 m2/person.
To achieve the above targets, the Prime Minister had set out tasks and measures to implement, including to suppliment, perfect mechanism and policies to exploit and mobilize maximum domestic and foreign financial resources, ODA financial loans for housing development, especially medium and long financial terms by forming the investment funds for housing and real estate, government bonds and other forms of capital fund raising legally as prescribed by the law.
The Prime Minister asked Ministry of Finance to chair, coordinate with Ministry of Construction and other Ministries to research, perfect mechanism and policies on finance, tax related to the social housing development, low income housing, rental housing, housing for industrial workers specified in this Decision; research, build the tax policy of housing in order to limit speculation; guide, supervise provinces, cities under the central government and manage activities of the Housing Development Stock according to the housing law; issue specific guidances on mechanism, financial policies relate to the implementation of housing development in the form of build-transfer and in the form of public-private partnership.
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