November 20, 2009 13:20 PM

Vietnam: Housing To Be Allocated By Points

HO CHI MINH City, Nov 20 (Bernama) -- The Ministry of Construction recently issued a circular prescribing eligibility conditions for residents to buy, lease or lease-to-own low-priced public houses in urban areas, Vietnam News Agency (VNA) repeated.

Deputy Minister of Construction Nguyen Tran Nam said the selection would be based on a scale with a maximum of 100 points. Those getting higher points would get priority to buy low-priced public houses, he said.

Under the circular, which will take effect on January 1, 2010, people without a house of their own including those whose houses or lands have been acquired for public use but have received compensation in cash will get 50 points.

Employees of State agencies and State-owned companies will also get 30 points while those working for non-State companies as well as individual businesses and workers will get 20 points.

To prevent speculation, the circular regulates that each family or individual can register to buy from only one low-cost public housing project.

-- BERNAMA

We provide (subscription-based) 
news coverage in our Newswire service.