Lower-cost housing shows fastest growth

The HCM City Real Estate Association (HOREA) plans to give priority to the medium- and low-priced housing segment to meet increased demand during the 2010-15 period.
The HCM City Real Estate Association (HOREA) plans to give priority tothe medium- and low-priced housing segment to meet increased demandduring the 2010-15 period.

That goal was announcedat the second Congress held on Dec. 11 in HCM City by theassociation to discuss its plans for the next five years.

Other housing priorities include student dormitories, worker houses, resettlement apartments and social housing.

The association said it would use advanced information technology todesign and build a variety of property products, especiallyenvironmentally friendly housing models at reasonable prices.

The association will also urge members to finish their projects on schedule.

In addition, it aims to increase the transparency of the real estatetransaction floor by providing more market information.

Establishing close links with international organisations to organiseevents will also be a priority so that more foreign investment would bepoured into the property market.

The associationplans to ask the Department of Construction and the Central SteeringCommittee for Housing Policy and Real Estate Market to give it authorityto issue brokerage certificates, assess prices and manage the propertytransaction floor.

It will also ask the HCM CityPeople's Committee to officially recognise annual titles for the year'sbest property business, environmentally friendly property project andproperty transaction floor. The association will continue to organiseseminars and conferences to help businesses and members discuss problemsthey have in complying with the State's laws on property investment,business and development.

Various companies willpropose amendments to current laws to create the most favourableconditions and a sustainable property market.

HOREAsaid that, in collaboration with the International Real EstateFederation for Asia Pacific and Asian Public Real Estate Association, CBRichard Ellis, National University of Singapore and Savills, Cushmanand Wakefield Vietnam, it would continue to organise many"property nights" to provide businesses with information from foreignexperts.

The aim is to increase the competitiveness of Vietnamese businesses in global and regional economic integration.

Seminars on new services, products and technologies will be also organised./.

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