HoREA wants conditions for owners of resettlement homes relaxed

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Friday, May 3, 2024 2:01:59 AM - Markets open

VN-INDEX

1,216.36

+6.84/+0.57%

HNX-INDEX

227.49

+0.67/+0.30%

UPCOM-INDEX

89.70

+0.94/+1.06%

HoREA wants conditions for owners of resettlement homes relaxed

Saigon Times - 1/20/2016 8:34:31 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The HCMC Real Estate Association (HoREA) has proposed the Government and the Ministry of Construction allow owners of resettlement homes to sell and transfer these properties.

Under the prevailing regulations, owners of resettlement homes have home ownership certificates but are banned from transferring their homes in five to ten years. In addition, they cannot even transfer the rights to buy resettlement homes.

According to the civil law and the 2014 Housing Law, owners of resettlement houses have the right to make decisions on their homes. HoREA said resettlement houses are the assets of those owning them, so they can decide what to do with these properties.

Therefore, HoREA petitioned the Government and the ministry to let owners of resettlement houses transfer their houses and rights to buy resettlement homes.

At present, many real estate brokerages and employees of property exchanges are offering for sale resettlement apartments in HCMC.

For instance, resettlement apartments of 60-90 square meters on Chu Van An Street, Binh Thanh District are offered at VND17-18 million (US$755-800) per square meter. Meanwhile, some families acquired houses in C5-C6 resettlement apartment building on Man Thien Street in District 9.

In reality, many households having resettlement houses do not want to live there as they need to move to places where they can earn a living.

For transactions involving resettlement homes, the name of the seller remains on the home ownership certificate due to the sale ban. This exposes risk to the buyer.

The HCMC government used to issue home ownership certificates to buyers who made full payments for resettlement homes.

HoREA said allowing owners of resettlement houses and lots to sell is to protect their legitimate rights. This regulation, if in force, would help the property market become transparent and support State agencies to manage the market more efficiently.

According to HoREA, major cities like HCMC and Hanoi will implement a number of new key infrastructure projects, so they need more resettlement apartments for affected households.

Newer News
19/04	Ministry requests Hà Nội to inspect rising prices of apartments
17/04	Real estate market has positive performances in Q1: VARS
05/04	Developers must verify with foreign homeowner's database before sales
28/03	Management of real estate brokers to be tightened
23/03	HCM City real estate market to recover in H2
23/03	Industrial real estate emerges out of storm
18/03	Lots of ground to cover to build 130,000 social housing units this year
12/03	Deputy PM urges resolving price manipulation for healthy real estate market
12/03	Limit set on interest rates of loans for social housing
21/02	Experts upbeat about real estate prospects

Older News
19/01	SBV to control real estate loans
15/01	Retail space rental in HCMC falls
14/01	80% of VND30-trillion home loan package pledged
07/01	More investments back property market recovery
28/08	VNREA: Jan-Jul housing transactions in city double
27/08	Dong devaluation will have ‘modest’ impact on property market: report
27/08	Tumbling stocks, gold may drive investors to real estate
25/08	Viet kieu, foreigners invest in homes
12/08	HoREA: Property market recovery fragile
05/08	Foreign capital pours into real estate in HCM City

Newsletter Signup

Top Stories

	Interest rates to rise but not have major impact on stock market: economist
	Businesses concerned about rising exchange rate pressure
	Gold bar auction to be resumed after 11 years of suspension
	PM Chính requires strengthened gold market management
	Bank shareholders to receive high dividends, stock bonuses