Sign up | Log in



Home  >>   Daily News  >>   Vietnam  >>Property  >> Ban on deposits for social housing
NEW UPDATES Asean Affairs 15 September 2015  

Ban on deposits for social housing

Vietnam:Investors of social housing projects are banned from collecting deposits from home buyers, the Ha Noi Department of Construction said.

The department has recently issued an announcement for home buyers, suggesting that they should carefully study the regulations and procedures while buying or renting an apartment in a social housing project. This will help them to avoid losing money on real estate transaction floors.

The buying and renting of property should follow regulations in Decree 188/2013/ND-CP, dated October 20, 2013, and Circular 08/2014/TT-BXD, dated May 23, 2014, on the development and management of social housing projects.

Accordingly, households and individuals should submit their applications only to addresses published on the department website and the official websites of the investors, but not on estate transaction floors. It also said home buyers should not accept illegal transfers in social housing projects.

The announcement was issued as some investors and property transaction floors in the capital have asked home buyers to pay deposits and prices higher than the stipulated levels.

The money will be their first payment after the signing of the purchase contract; if they decide not to buy the apartment, they lose the deposit.

However, many people registered to buy apartments in social housing projects, and then decided not to proceed with the purchase. This made investments in such projects risky.

There are regulations on deposits for commercial house purchases, but none for social housing.

Recently, several social housing projects were put on sale on property transaction floors with deposits of VND50 million to VND70 million per apartment.

For example, the Dai Kim social housing project in Hoang Mai District, built by Handico 5, announced that it would accept applications from home buyers from September 3 to 17. However, some estate transaction floors offered the project's apartments for deposits of VND50 million to VND60 million each.

The transaction floors said the deposit would be considered as a commitment to ensure that buyers were eligible to buy such apartments.

Review of sales, rents

The municipal People's Committee has asked the construction department to help investors conclude home purchase contracts and grant certificates of land-use rights to social housing projects.

The department will review the sale and rent amounts at social housing projects so certificates can be granted.

In addition, it will push investors to organise apartment conferences to complete technical and social infrastructure in each project.

The department has also been asked to review projects that were converted from commercial to social housing. The licences of those that have delayed construction will be revoked and the projects handed over to other investors. The review will be submitted to the People's Committee this month

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           September 15 , 2015 Subsribe Now !
• Markets to hold ahead of Fed announcement Subcribe: Asean Affairs Global Magazine
• Brunei, Thailand to join forces in halal food industry
• Changi Airport sees recovery amid higher traffic
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Najib Razak insists again that he won't quit despite mounting accusations
• Ban on deposits for social housing
Asean Analysis                   September 11, 2015
• Asean Analysis September 11, 2015
Indonesia Faces Resurgent Maritime Piracy Challenges
Advertise Your Brand

Asean Stock Watch  September  14,   2015
• Asean Stock Watch-September 14, 2015
The Biweekly Update
• The Biweekly Update August 21, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand