Proposal to increase income level eligible to buy social housing

In the draft Decree on the development and management of social housing, proposed by the Ministry of Construction, workers with an average monthly income of no more than 15 million VND will be considered eligible to buy or rent social housing. The period for determining income is 3 years before the date of application submission.

The Ministry of Construction is proposing to "loosen" many conditions for social housing buyers. Photo: Le Toan

According to current regulations, the condition for enjoying social housing policies is that all family members have regular income and do not have to pay personal income tax, which is no more than 11 million VND/month. This level is considered no longer suitable for the present because social housing prices have also increased sharply compared to before.

Agree to build 5 squares around Thien Quang Lake

The People's Committee of Nguyen Du Ward (Hai Ba Trung District, Hanoi) has just organized a direct consultation with local people on the design project at a scale of 1/500. The majority of participants believe that it is necessary to establish a project to synchronously renovate the Thien Quang Lake area, including the construction of 5 squares named Spring, Summer, Autumn, Winter and the central square.

Previously, in early February 2024, the People's Committee of Hai Ba Trung District organized a public consultation on the Urban Design project for the area around Thien Quang Lake. The land area for urban design research is 11.7 hectares wide, located in Nguyen Du and Le Dai Hanh wards. The north of this area borders Nguyen Du Street, the west borders Tran Binh Trong Street, the east borders Quang Trung Street and the south borders Tran Nhan Tong Street.

In the project, the consulting unit proposed an urban design with 13 areas and 5 squares. The central square is located on Tran Nhan Tong street, adjacent to Thong Nhat park. Four squares: Spring, Summer, Autumn, and Winter are built near the 4 corners of Thien Quang lake.

Proposal to increase rental price of Thuy Ta restaurant

The People's Committee of Da Lat City has just proposed that the Lam Dong Department of Finance review and re-evaluate the starting price for 10-year lease of houses and land at Thuy Ta restaurant, in the direction of increasing it higher than the first auction.

Specifically, Da Lat City plans to consider the starting price for land and property rental in 1 year to be more than 3.6 billion VND; the price for land and property rental in 10 years to be more than 36 billion VND.

If approved, the new land rental price will be about 1 billion VND/year higher than the old price.

Thuy Ta Restaurant is located on one of two islands attached to the national scenic spot Xuan Huong Lake. This is one of the most prime locations in Da Lat. The total area of ​​this land is over 3,800 m2, on the land there is a two-storey house with a floor area of ​​over 260 m2, the remaining land is flower beds, courtyards, and yards.

Nearly 100,000 billion VND of real estate corporate bonds mature in 2024

According to the Vietnam Bond Market Association (VBMA), the total value of corporate bonds maturing in the remainder of 2024 is VND258,239 billion. Of which, 38% of the value of bonds about to mature belongs to the real estate group, equivalent to about VND99,234 billion. Followed by the banking group with nearly VND54,496 billion, accounting for 21%.

Bond maturity pressure still surrounds real estate businesses.

In addition, experts from VNDIRECT believe that the expiration of Decree No. 08/2023/ND-CP and the implementation of regulations on professional securities investors, along with mandatory credit rating regulations, will cause private bond issuance activities to decline sharply in 2024.

Ho Chi Minh City still has 59,000 apartments without pink books

According to Mr. Vo Cong Luc, Head of the Land Management Department (Department of Natural Resources and Environment of Ho Chi Minh City), in 2023, the real estate market of Ho Chi Minh City will have 81,000 apartments in 335 projects assessed to be eligible for land use right certificates. Of which, more than 27% of the apartments have certificates, 73% of the remaining apartments have not been granted, equivalent to 59,000 apartments.

Mr. Luc said that there are many reasons why the apartments have not been granted pink books, including the project investors being late in submitting documents; many new real estate projects are facing legal problems; some apartments have to pay additional finance or are under inspection or investigation; the project is being mortgaged to the bank, and there are violations in construction.