HoREA petitions to have special policies for low-priced commercial apartments

SGGP
The Ho Chi Minh Real Estate Association (HoREA) petitioned to have preferential policies for low-priced commercial apartments in the Law of Investment and the Law of House to encourage and mobilize social resources for that kinds of house.

HoREA petitions to have special policies for low-priced commercial apartments

In its opinion on to the draft amendments to the Law on Investment lately, HoREA said that present regulations of house have had preferential treatment for social housing yet there has been no preferential policies for low-priced commercial apartments.
For instance, according to the Law of House, social housing investors are entitled to land use and land rent exemption, exemption or remission of value-added tax and corporate income tax.
Investors of low-rent apartments for workers and low income earners enjoy 70 percent of remission and exemption of value-added tax and corporate income tax.
According to HoREA, several apartments of commercial projects have been sold at the same price or little higher than social housing.
In reality, a social housing loan package worth VND30 trillion for the 2013-2016 period has been for social houses and commercial apartments under VND1.05 billion.

By Minh Huy - Translated by Uyen Phuong

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