Ho Chi Minh City will tax high with second real estate

Adopt a high tax rate on second or more real estate and real estate transactions occur within 1 year of purchase, property tax on the land, and value added of real estate from speculation. Infrastructure … is the contents of the People’s Committee HCM has proposed to the Ministry of Construction.

According to the People’s Committee of Ho Chi Minh City, this tax policy is to ensure equity in the right to access housing.

Ho Chi Minh City will tax high with second real estate

Regarding capital mobilization, the City People’s Committee said that the ministry should issue urban bonds, construction bonds, mobilize capital from banks, credit institutions, financial investment inside and outside the country, To raise capital for investment in infrastructure, embellishment and urban development, to study and create a legal corridor for a number of new financial instruments for the development of the real estate market.

In the immediate future, a number of new financial instruments for the real estate market such as the Housing Savings Fund and REITS Real Estate Trust Fund will be piloted to diversify their investment capital into the real estate market.

Regarding the social housing policy, the Ministry should consider the balance and allocate capital from the budget so that the State Bank has grounds to provide interest compensation for early implementation of social housing policy in accordance with the Housing Act 2014. and direct the Social Policy Bank to implement preferential loans and social house-saving policies under Clause 5, Article 13 of Decree No. 100/2015 / ND-CP to create more funds for the implementation of social housing and equitable treatment for beneficiaries of social housing.

HCMC People’s Committee also recommended the Ministry of Construction guide the work of classifying urban areas in the case is a special city. According to the HCMC People’s Committee. Ho Chi Minh City has 29 large-scale residential development projects, of which two are projects with a land use area of ​​50ha or more and 27 projects with a total investment of VND 3,000 billion or more. Apartment size of 1,500 units or more.

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