The information was released at the meeting of the Central Steering Committee on housing and real estate market in Hà Nội on May 20. These funds are considered a breakthrough for the improvement of the State managerial efficiency of the housing market, as well as developing the market in a balance and stable way.
The current funds for housing development are mainly from the businesses themselves, banking loans, and residents’ contribution. However, the mobilization of these sources is still meeting with many difficulties, even in legal frame work, according to Deputy Minister of Construction Nguyễn Trần Nam.
Therefore, the Government is drafting a housing development strategy, in which it put forth procedures for creating the main funds for that purpose, namely housing development fund, saving fund for housing, and real estate investment fund.
The housing development fund is already incorporated in the Housing Law but it has not been paid due care by many localities. Meanwhile, the other two funds are still new in Việt Nam.
Addressing the meeting, Deputy PM Hoàng Trung Hải asked for quick finalization of the draft strategy in order to maximize and diversify the investment sources for housing development./.