The Hanoitimes - In a bid to ease difficulties in the real
estate sector, the Ministry of Construction has come up with a series of
solutions, including reduction in supply and increase in demand.
An apartment block in district 12
for low income people. This problem was also raised at a meeting of the
National Assembly Economic Committee on January 24. Trinh Dinh Dung, Minister
of Construction said the sector continues to face difficulties although prices
have decreased in all market segments--some of them down by 50% , yet just a
few transactions have taken place.
As housing developers have high
inventory, it is urgent to solve their problem as well as stimulate the market
and deal with bad debts.
The government will use fiscal
and tax policies flexibly such as delay of business tax and VAT.
The ministry also suggested
cutting 50% of VAT tax for social housing investors, applicable to apartments
with less than 70 square meters of living space and cost less than 15 million
VND per square meter.
Along with measures and policies
to encourage people to buy houses, the government has to have effective tools
to curb hoarding.
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