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Hanoi to review brokerage and purchase of social housing

Hanoi to review brokerage and purchase of social housing

The Hanoi People's Committee has just received a document from the Ministry of Construction (MoC) requesting inspection and reorganization of brokerage and purchase activities of social housing projects in the capital city.
11:30, 25/04/2019

The document says, based on recent complaints of local people as well as local media, at some social housing projects in Hanoi, real estate brokers and agents are selling social homes and collecting fees which are not in accordance with the provisions of current laws.

Artist's impression of a social housing project in Hanoi.

Artist's impression of a social housing project in Hanoi.

Accordingly, buyers have to spend tens of millions VND to be guided and supported in making dossiers and buying a social apartment, or hundreds of millions VND for an unit at corner of the floor or other preferred positions. Moreover, people who buy social housing on secondary market have to pay the so-called imbalance fee of VND 400 million compared to the original price, equivalent to about VND 4-6 million per sqm.

These practices are not in accordance with the current regulations on the subjects, conditions, order and procedures for buying and selling social homes as stipulated in the 2014 Law on Housing, Decree 100/2015 / ND-CP dated October 20, 2015 of the Government on the development and management of social homes as well as the MoC's Circular No. 21/2016 / TT-BXD dated June 30, 2016 guiding the implementation of a number of contents of Decree 100/2015 / ND -CP.

In order to rectify the above situation, MoC has proposed the city People's Committee instruct the Department of Construction and local authorities to conduct the inspection of trading, buying and selling social homes in Hanoi. Organizations and individuals violating regulations and laws need handling strictly. Hanoi People's Committee must report the inspection results as well as measures to correct and handle violations to the MoC before April 30, 2019.

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