VietNamNet Bridge – “In many countries, the percentage of houses for lease accounts for up to 80-90 percent. Vietnam has large populations and restricted land, so we do not encourage personal ownership of house,” says Deputy Prime Minister Hoang Trung Hai.

At the meeting of the Central Steering Board on Housing Policy and Real Estate Market on February 14, the Deputy PM emphasized that the housing development strategy must focus on developing houses for lease. He said that this is the model of future, which is appropriate to Vietnam.

“The demand for houses in Vietnam is huge but leasing houses accounts for just 11 percent in Hanoi and HCM City, which fails to meet the need. Competent ministries need to make breakthroughs in raising capital to encourage economic sectors to build houses for lease,” Hai said.

The Deputy Prime Minister told relevant agencies to suggest policies to encourage businesses to build this type of house.

According to the housing strategy, from now to 2015, apartments will account for 80 percent of housing development projects in Hanoi and HCM City. Of the number, houses for lease will account for 20 percent.

The government will invest in building apartments for lease or apartments for low-income earners. The government will also issue incentive policies to urge businesses to build these types of houses.

The Ministry of Construction is working on a leasing house development plan.

S. Tung