THE PRIME MINISTER
Directive No. 11/CT-TTg dated April 23, 2019 of the Prime Minister on certain solutions for fostering stable and sound development of real estate market
Over the past few years, government authorities in various levels, ministries, local government authorities and enterprise community have actively tried their best to follow law provisions and guidelines, and have implemented solutions and policies issued by the Government on real estate market. For that reason, the real estate market not only has made recoveries since 2014 but also been on the rise and have made positive contributions to socio-economic development, social security assurance and macroeconomics stability. However, the development of real estate market is not actually stable and faces potential risks. There doesn't seem any logic in the structure of real estate products; high-class housings with large area and high selling prices are in surplus while there is a deficiency in social housings and low-price housings suitable for demands of most people. Prices of real estate products, especially housing prices, are quite higher than the people’s income and there are not enough financial supports. Database and information on real estate market from the stage of planning, investor selection, project implementation to transaction are non-synchronous, insufficient, unreliable and non-transparent.
The main reasons for limitations and shortcomings include: The law system governing real estate market fails to satisfy actual demands, or have not been promptly amended; the investment and development of real estate projects in certain local areas fail to follow the planning scheme and plan and are not suitable for the market demand and real conditions; the work of state management is not strictly and promptly done and fails to meet management requirements.
For the purpose of overcoming these shortcomings and fostering the stable and sound development of real estate market, the Prime Minister hereby requests ministries and local government authorities to perfectly perform duties and solutions as follows:
1. The Ministry of Construction
a) Finish the project on Laws on amending and supplementing the Law on Construction, the Law on Housing and the Law on Real Estate and send it to competent authorities for consideration purpose as specified in the National Assembly's law-making program. To be specific: provide additional housing support policies intended for officials and public employees having difficulty in finding affordable and livable housing and overcome other shortcomings and unsolved problems to be suitable for the reality;
b) To amend and supplement regulations and standards for construction of various types of apartments, condotels, resort villas, officetels; boarding-houses and rooms for rent. To issue the regulations on management and operation of officetels by 3rd quarter of 2019.
c) To urge local government authorities to finish and operate the housing and real estate market information system as prescribed in the Government's Decree No.117/2015/ND-CP dated November 12, 2015; cooperate with ministries in the course of information collection to complete the market information on housing and real estate;
d) To conduct the amendment and supplement the Decree No.100/2015/ND-CP dated October 2015 of the Government on development and management of social housings (after the Law on amending and supplementing a number of Articles of the Law on Housing is approved);
dd) To urge and instruct the local government authorities to foster the development of social housings under the Prime Minister's guidance provided in Directive No.03/CT-TTg dated January 25, 2017;
To cooperate with other ministries in intensifying inspection and requesting investors in urban area and housing development projects to concurrently construct technical infrastructure, social infrastructure and fire safety system included therein which are connected to the general infrastructure project before house transfer in compliance with provisions of the construction law, housing law and relevant law provisions;
To monitor and collect situation periodically or irregularly for reporting the reports on real estate market development to the Government and Prime Minister for the purpose of promptly working out solutions for stabilizing the market when there is any abnormal sign or considerable fluctuation.
2. The Ministry of Planning and Investment
To advise, report the Government on allocation of funding for social housing development as specified in Decree No.100/2015/ND-CP dated October 20, 2015 of the Government on development and management of social housing; promptly allocate funding for social housing development after the Resolution on the plan for using funding for public mid-term investment in the 2016-2020 period.
3. The Ministry of Natural Resources and Environment
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