Mechanisms needed for stable property market hinh anh 1The Ministry of Construction is studying solutions to promoting stable and sustainable development of real estate market. (Photo: VNA)

Hanoi (VNA) – A line-up of tools and solutions to promote stable and sustainable development of the real estate market are being studied by the Ministry of Construction as part of efforts to ensure the market’s transparency.

The ministry said that it will closely work with the Ministry of Finance to complete tax and finance mechanisms while joining hands with the State Bank of Vietnam to control the credit flow to the property sector.

Removing bottlenecks on capital to carry out key housing projects will be given due attention.

The ministry will work to chalk out measures to develop social housing projects in urban areas and for workers in industrial zones as well as supervise the planning and use of land allotted for social housing in ​the areas.

Regular update on the building material market will help the ministry to carry out timely measures stabilising prices of major building materials. Effective implementing the building material planning and development schemes is crucial to ensure a balance of supply and demand.

The ministry will support the production of materials that help cut construction costs.

The construction sector target a growth of up to 9.21 percent in 2018.-VNA