Ministry of Construction eyes building low-cost housing

The Ministry of Construction is completing a draft resolution to encourage the development of low-cost commercial apartments to submit to the Government in the third quarter of this year.


The low-cost commercial apartments would have self-contained designs with an area of less than 70sq.m and selling price of under 857 USD per spq.m, The maximum value of an apartment must not exceed 64 USD (including VAT).

The resolution would provide many preferential policies on land use fees, taxes, construction investment procedures and capital mobilisation mechanisms to create favourable conditions for developers to invest in such projects.

Homebuyers would have more opportunities to buy commercial housing at reasonable prices, helping address people’s housing needs.

The country has mobilised more 2.6 billion USD to support estate developers to build social housing projects and lend to people in buying and renting such apartments./.