Proposing tax incentives to attract businesses to renovate old apartments and build social housing
Experts say that one of the major barriers that has caused a series of projects to renovate old apartments and develop social housing to be delayed is the lack of specific and attractive tax policies to encourage businesses to participate.
Sharing with Lao Dong reporter, Mr. Le Hoang Chau - Chairman of the Ho Chi Minh City Real Estate Association (HoREA) - said that it is necessary to amend and supplement a number of articles in the Draft Law on Corporate Income Tax (CIT), emphasizing the addition of tax incentives for two areas with special social roles but facing many barriers: renovation, reconstruction of old apartments and development of social housing for rent.
According to HoREA, the 2023 Housing Law clearly stipulates in Article 63 that investors of apartment renovation and reconstruction projects are entitled to preferential mechanisms, including tax incentives. However, the Draft Law on Corporate Income Tax has not specifically mentioned this type in the list of industries eligible for tax incentives. See more...
Bac Giang land plots grow strongly in selling and transaction prices
In the first months of the year, the Bac Giang land market recorded a vibrant development when both selling and trading prices tended to increase.
A recent survey by Batdongsan.com.vn shows that the price increase rate of Bac Giang land reached about 10 - 15% compared to the end of last year. Some places have better increases, reaching about 20%. Depending on each area, the transaction volume also increased by 20 - 40% compared to half a year ago.
Accordingly, land in Bac Giang city recorded an increase in selling prices in many areas. In particular, land in Ton Duc Thang area, near Big C city, has increased from 73 - 77 million VND/m2 to 84 - 90 million VND/m2.
Land in Tan My, near Mi Market, the land price offered ranges from 65 - 70 million VND/m2, an increase of 15% compared to December 2024. In less beautiful locations, also in urban areas, such as Dong Son, within half a year, land prices increased from 27 - 30 million VND/m2 to 31 - 36 million VND/m2. Land on Than Nhan Trung Street in My Do Ward also increased in price from 65 - 68 million VND/m2 to 72 - 78 million VND/m2. See more...
It takes normal civil servants nearly 26 years to buy an apartment
Dr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council said that the situation of increasing real estate prices continues. In the period of 2019 - 2024, real estate prices in Vietnam have increased by 59%, higher than the US (+54%), Australia (+49%), Japan (+41%) and Singapore (+37%).
"With the current price increase, it will take normal civil servants nearly 26 years to buy an apartment" - Mr. Luc spoke at the Executive Committee, Standing Committee Conference and meeting with annual members in 2025 of the Vietnam Real Estate Association (VNREA).
According to Mr. Luc, Vietnam is increasingly falling behind in terms of housing access. Of which, there are at least 6 main reasons why housing prices in Vietnam have been pushed up in recent years. See more...
6 Phuc Tho land lots are on the market in early May, priced from 8.9 million/m2
