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 is drafting a resolution on encouraging the development of commercial low-cost housing projects. The draft is scheduled to be submitted to the government for approval in Q3. 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. A real estate developer in Hanoi said with the ceiling price of VND20 million per square meter, many businesses would find it feasible to make investments if they can get support in finance and policies. The association also proposed cutting VAT and corporate income taxes for the projects by 50 percent. Le Ha Foreigners allowed to own homes in 22 Hanoi commercial housing projects The Hanoi Department of Construction has listed 22 commercial housing projects, some complete and some under construction, where foreigners can own homes. Hanoi announces lists of housing projects open for foreign ownership Foreigners are eligible to own houses in a tenure of 50 years with renewal possibility.
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