The HCM City People's Committee has approved a plan to buy up unsoldresidential buildings from real estate companies for its resettlementhousing fund, said Le Hoang Chau, chairman of the HCM City Real EstateAssociation (HoREA) on Feb. 17.
Chau said this could be a productive way to help warm up the frozen realestate market, especially the residential building sector.
However, many experts still predicted a gloomy future for real estatemarket this year at a meeting between HoREA and land development andreal estate agencies the same day. Proposed solutions included loweringinterest rates and developing financial tools through the PropertyInvestment or Housing Funds to inject capital into the property market.
Vietnam 's monetary policy this year will continueto exclude non-production business activities, like real estate, fromits list of priorities, Vice State Governor Nguyen Dong Tien affirmed onFeb. 15. Tien added that there would be some adjustment for propertyloan policy, promising that the State Bank of Vietnam will providecredit loans in 2012 to real estate projects with the potential tocontribute to economic growth on a macro level.
NguyenManh Ha, director of the Ministry of Construction's Housing and RealEstate Market Department, told a steering committee on Feb. 17 that theministry has proposed two economical housing models for Vietnam ,which will be long-term financial mobilisation channels for housingdevelopment in the country.
Vietnam 's residential property market is experiencing heavy losses at the moment.
Last year, the Prime Minister approved the establishment of a housingsavings fund as a non-profit organisation with voluntary contributionsfrom its members' monthly incomes.
Labourers in need oflow-cost housing will be able to freely participate in the fund whilecontributing only 1 percent of their monthly income. Once in place, thefund will prioritise lending to its members and construction firms thatengage in social housing development programmes.
Ifparticipants no longer want to own a house, they can withdraw from thefund and have their contributions returned with 3-5 percent interest peryear.
Statistics from the Ministry of Construction alsoshow that about 7 million people living in urban areas nationwide noware in need of low-income housing./.
Chau said this could be a productive way to help warm up the frozen realestate market, especially the residential building sector.
However, many experts still predicted a gloomy future for real estatemarket this year at a meeting between HoREA and land development andreal estate agencies the same day. Proposed solutions included loweringinterest rates and developing financial tools through the PropertyInvestment or Housing Funds to inject capital into the property market.
Vietnam 's monetary policy this year will continueto exclude non-production business activities, like real estate, fromits list of priorities, Vice State Governor Nguyen Dong Tien affirmed onFeb. 15. Tien added that there would be some adjustment for propertyloan policy, promising that the State Bank of Vietnam will providecredit loans in 2012 to real estate projects with the potential tocontribute to economic growth on a macro level.
NguyenManh Ha, director of the Ministry of Construction's Housing and RealEstate Market Department, told a steering committee on Feb. 17 that theministry has proposed two economical housing models for Vietnam ,which will be long-term financial mobilisation channels for housingdevelopment in the country.
Vietnam 's residential property market is experiencing heavy losses at the moment.
Last year, the Prime Minister approved the establishment of a housingsavings fund as a non-profit organisation with voluntary contributionsfrom its members' monthly incomes.
Labourers in need oflow-cost housing will be able to freely participate in the fund whilecontributing only 1 percent of their monthly income. Once in place, thefund will prioritise lending to its members and construction firms thatengage in social housing development programmes.
Ifparticipants no longer want to own a house, they can withdraw from thefund and have their contributions returned with 3-5 percent interest peryear.
Statistics from the Ministry of Construction alsoshow that about 7 million people living in urban areas nationwide noware in need of low-income housing./.
