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Directive No. 2196/CT-TTg dated December 6, 2011 of the Prime Minister on a number of measures to intensify management of the real estate market
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Directive No. 2196/CT-TTg of December 6, 2011, on a number of measures to intensify management of the real estate market


In the past years, the real estate market in our country has seen important steps of development. Many housing development projects and service works with complete technical and social infrastructure systems have been formed synchronously, which have changed the appearance of urban centers, improved people’s living standards and contributed to restructuring the economy toward industrialization and modernization, while promoting the national socio-economic development, step by step satisfying the housing demand of people of all strata and contributing to assuring social security. The real estate market has attracted a considerable amount of domestic and foreign investment capital and boosted the development of other production sectors. The legal system regulating the operation of the real estate market has been incrementally perfected, and the organizational structure of this market has been formed. Related agencies have coordinated in state management work to create favorable conditions and an open investment environment for the development of the real estate market. Besides its positive aspects, the operation of the real estate market has revealed weaknesses in the past time. The market has developed in an unhealthy and unstable manner. The prices of real estate commodities, especially houses, remain high and complicated, particularly in major cities. The structure of houses on sale is imbalanced, lacking medium- and smallsized houses affordable to the majority of people, especially houses for lease. Speculation and price hiking remain common. Real estate sales tend to be on the decline, especially in the third quarter of 2011. The mobilization of resources for the implementation of social house development programs to serve social policy beneficiaries and low-income earners in urban areas, state officials, civil servants and employees, armed forces members and industrial park workers is still limited, causing difficulties to the settlement of housing problems for a large portion of urban dwellers. Housing investment has not yet been based on market demand and without housing development planning. Scattered and spontaneous investment or delayed projects remain popular, leading to uncoordinated development, lack of infrastructure connection and waste of land resources and investment capital of society.........

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