Sale of large State-owned villas in city banned

The Ministry of Construction has asked authorities in Ho Chi Minh City to completely ban the sale of any large State-owned villas in the inner city area.

Accordingly, the city will check the condition of 60 State-owned villas and keep the larger villas in the city centre area for offices or trade centres.

On the other hand, smaller villas or less favourably located houses or those with partial private ownership can be sold off.

The local authorities have also been asked to check with relevant departments on the housing funds which were managed by municipal agencies but have not yet been handed over to the ministry.

Additionally, the ministry has requested the municipal government to penalise individuals and organisations for violating government Decree No. 61/CP in selling villas that are not residences.

The People’s Committee in the central highland province of Lam Dong has also banned selling of villas in the Tuyen Lam Lake tourist area in Da Lat City.

Tuyen Lam Lake tourist complex covers an area of more than 5,000 hectares, which includes the Lake and thousands of hectares of forest, about 6km from Da Lat City. Investors have been slow at developing tourism projects here and sold villas for tens of billions of VND, even though none have been built so far.
                 
Individuals and organisations who bought villas from investors will not be given licence certificates for land-use rights and ownership, because they were illegal transactions.

By H.Anh, P.Trung – Translated by Kim Khanh

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