Investors of housing projects that lag behind schedule will be fined VND400-600 million each, according to the Government’s newly-issued regulations.

Despite the ongoing impacts of the Covid-19 pandemic, housing development is still being promoted.

The old apartment buildings represent one of the architectural landmarks in Hanoi's history, telling people the historical story of the capital city.

The city will control foreign investment in the real estate area as well as their transfer of collected money abroad to prevent money laundering, transfer pricing and tax evasion.

The Da Nang Department of Construction has made public a list of commercial housing projects in which foreign organizations and individuals are allowed, or not allowed, to buy apartments or houses.

The Ministry of Construction (MOC) has proposed offering preferences to real estate firms that develop low-cost housing with the selling price of no more than VND20 million per square meter.

The Ministry of Construction and localities must conduct inspections on urban areas that may have violated their approved plans and issue strict punishments if violations are found, Deputy Prime Minister Trinh Dinh Dung said.