(VOVworld) – A revised Housing Law was discussed at the 26^th session of the National Assembly’s Standing Committee this week. Many deputies backed a new policy to make it easer for foreigners to own houses and to ensure the right of every Vietnamese to own a house. This reflects the 2013 Constitution’s stipulation of human rights and citizen rights and obligations.

Housing demand in Vietnam is bigger than supply

The revised Housing Law stipulates that Vietnamese people residing abroad have the same rights and obligations as local citizens, including the right to own an unlimited number of houses in Vietnam and to be permitted to sell, give, mortgage, and inherit houses. Foreign organizations and individuals operating in Vietnam also have the right to own houses. For an organization, ownership does not exceed the duration of its investment license. For an individual, ownership is for 50 years and can be extended.

Boosting international integration

Construction Minister Trinh Dinh Dung said house ownership has been made easier for overseas Vietnamese and foreigners to attract investment and talent. It’s in line with international law and boosting Vietnam’s international integration.

Chairman of the National Assembly’s Committee for National Defense and Security Nguyen Kim Khoa said:“I agree with making it easier for foreigners to own houses in Vietnam. But we need different policies for overseas Vietnamese who have foreign nationalities. Foreigners temporarily living in Vietnam with sufficient qualifications should be eligible for permanent residency and the right to own houses in Vietnam.”

Some deputies suggested additional regulations to ensure national political security, especially in sensitive areas. Chairman of the National Assembly’s Committee for Legal Affairs Phan Trung Ly said regulations are needed to prohibit buying houses in certain areas and to limit the number of houses owned in certain areas and the number of apartments owned in a residential building.

Chairman of the National Assembly’s Committee for Economic Affairs Nguyen Van Giau pointed out that the Constitution states that overseas Vietnamese are an inseparable part of the Vietnamese nation, and the revised Housing Law must abide by this stipulation without creating discrimination.

Ensuring each citizen’s right to housing under the Constitution

The housing law should encourage the building of social houses to ensure every person has a house and to comply with the Constitution’s stipulation of human rights and citizen rights. Chairman of the National Assembly’s Committee for People’s Aspiration Nguyen Duc Hien said Vietnam should adopt corporate policies and mechanisms to draw capital to property projects. The revised law should create incentives and mechanisms to minimize obstacles to social housing projects. Hien recommended that the state allocate funds to develop the housing sector, including social housing projects.  Chairman of the National Assembly’s Committee for Social Affairs Truong Thi Mai said: “The first principle is to guarantee each citizen’s right to housing under the 2013 Constitution. Private-invested social housing projects must be transparent and house prices must be calculated appropriately."
In recent years, the state has adopted housing policies for poor and disadvantaged households and social beneficiaries. The revised Housing Law, which loosens the conditions for foreigners in Vietnam and overseas Vietnamese to purchase houses and supports the right of Vietnamese to own property, follows the new Constitution and promoted international integration.