Specifically, the draft of the Decree guiding the Housing Law 2023 stipulates that the average monthly income of the applicant and his/her spouse must not exceed 15 million VND/month according to the wages and salaries confirmed by the agency or unit where the person works; the income conditions for the three years before the adjacent year are determined for the purchase and lease-purchase of social housing.
Under the current regulations, social housing buyers must not be subject to regular income tax in accordance with the provisions of the law on personal income tax, which is not more than 11 million VND/month.
Home buyers will be relaxed with conditions in the near future.
In addition, the draft also removes the condition of residence. Specifically, regarding the housing conditions, the draft decree stipulates: In the case of no house owned by the person specified in Clause 1 of Article 77 of the Housing Law and his/her spouse, whose name is not included in the Certificate of land use rights, ownership of houses and other assets attached to the land in the province, centrally-run city where the social housing project is located.
Whereas, under the current regulations, beneficiaries of social housing support must have registered permanent residence in the province, centrally-run city where the social housing is; in case of no registered permanent residence, they must have temporary residence registration for one year or more in this province, centrally-run city.
In addition, the average housing area standard according to the current regulations is below 10m2, according to the draft decree, it is increased to below 15m2.
In addition to the above-mentioned notable changes, the draft decree also proposes a series of changes regarding land funds for social housing construction in commercial housing investment projects; incentives for investors of social housing construction projects; types of houses and area standards for social housing; determination of selling price, lease-purchase price, rental price for social housing; procedures for selling, renting, lease-purchasing social housing, etc.
