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Official Gazette

Friday, June 9, 2023

Social housing project owners to receive more incentives

Updated: 14:12’ - 30/04/2023
Social housing project owners would no longer be required to reserve 20 percent of the floor areas for lease, according to the National Assembly’s draft resolution on pilot implementation of policies for development of social houses and workers’ accommodations in industrial parks.

Binh Trung Dong social housing project, Thu Duc city__Photo: VNA

If building social houses for lease, lease-purchase or sale with funds from non-state sources, project owners would be entitled to several incentives, including exemption from land use levy or land rental and value-added tax and corporate income tax incentives in accordance with the tax laws. In addition, they may enjoy a profit rate of 10 percent for the area for construction of social houses.

For social housing projects which have land for construction of commercial facilities like supermarkets, department stores, restaurants and clinics in service of local residents, project owners may not account construction costs of these commercial facilities into the total costs of the projects but may enjoy the whole profits from these commercial facilities.

For projects without land for construction of commercial facilities, for each block of apartments, project owners would be permitted to reserve an area of a floor for use for commercial purposes.

Other incentives for social housing projects include access to soft loans and financial support for compensation, ground clearance and building of technical infrastructure facilities.- (VLLF)

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