Chapter VII
FUNDING FOR HOUSING DEVELOPMENT
Article 112. Funding sources for housing development
1. Equity of organizations and individuals.
2. Capital under Clause 1 Article 113 hereof.
3. Capital mobilized from organizations and individuals under Article 114 hereof.
4. Foreign investment.
5. Union funding according to union laws.
6. Other legitimate funding sources.
Article 113. Funding sources of the Government for housing development
1. Funding sources of the Government for housing development include:
a) Public investment in accordance with public investment laws;
b) Funding from government bonds, bonds, ODA, concessional loans of sponsors, investment development credit capital of the Government; capital mobilized from land development fund, other non-budget Government financial fund as per the law.
2. Funding sources under Clause 1 of this Article shall be used by the Government for development of official housing, social housing, housing for people’s armed forces, relocation housing, renovation and reconstruction of apartment buildings, other public housing in accordance with this Law.
Article 114. Forms of capital mobilization for housing development
1. Forms of capital mobilization for housing development include:
a) Capital contribution, investment cooperation, business collaboration, joint venture of organizations and individuals;
b) bond, stock, fund certificate issuance as per the law;
c) Capital funding from funding sources under Clause 1 Article 113 hereof;
d) Loan from credit institutions, financial organizations operating in Vietnam;
dd) capital loan from Bank for Social Policies;
e) Direct foreign investment in Vietnam;
g) Other legitimate funding sources.
2. The Government shall elaborate conditions of each form of capital mobilization for housing development.
Article 115. Capital for development of each type of housing
1. Capital for commercial housing property development consists of:
a) Capital of developers of commercial housing property investment and construction projects;
b) Funding mobilized via capital contribution, investment cooperation, business collaboration, joint venture of organizations and individuals;
c) Funding mobilized via bond, stock, fund certificate issuance as per the law;
d) Housing purchase, lease purchase advance, arrears, installment payments according to contracts for sale, lease purchase of off-plan property;
dd) Loan capital from credit institutions and financial organizations operating in Vietnam.
2. Capital for official housing development consists of:
a) Funding provided by the state budget, including central government budget and local government budget;
b) Other legitimate funding sources.
3. Funding for social housing policies consists of:
a) Capital of developers of social housing investment and construction projects, developers of worker housing investment and construction projects in industrial parks, developers of housing investment and construction projects for people’s armed forces; capital of developers of commercial housing property investment and construction projects;
b) Funding mobilized via capital contribution, investment cooperation, business collaboration, joint venture of organizations and individuals;
c) Capital of entities eligible for support policies regarding social housing;
d) Capital under Clause 1 Article 113 hereof;
dd) Capital provided directly by the Government for entities eligible for social housing policies; concessional loan made via Bank of Social Policies or credit institutions designated by the Government;
e) Union funding for project execution under Clause 4 Article 80 hereof;
g) Loan capital from credit institutions and financial organizations operating in Vietnam;
h) Direct foreign investment made to Vietnam;
i) Other legitimate funding sources.
4. Capital for relocation housing development, renovation and reconstruction of apartment building consists of:
a) Capital of developers of relocation housing investment and construction projects; capital of developers of apartment building renovation and reconstruction projects;
b) Funding mobilized via capital contribution, investment cooperation, business collaboration, joint venture of organizations and individuals;
c) Capital under Clause 1 Article 113 hereof;
d) Capital from land development fund;
d) Capital from compensation, support, relocation payments upon premise clearance as per the law, capital contributed by relocated individuals in respect of apartment building renovation and reconstruction projects;
e) Loan capital from credit institutions and financial organizations operating in Vietnam;
g) Other legitimate funding sources.
5. Capital for personal housing development consists of:
a) Personal capital;
b) Cooperation capital between individuals; contributions of relatives, community;
c) Loan capital of credit institutions, financial organizations operating in Vietnam;
d) Funding of the Government in respect of cases eligible for support policies regarding social housing;
dd) Other legitimate funding sources.
Article 116. Rules in mobilizing and using housing development capital
1. Capital mobilization for housing development shall conform to principles below:
a) Appropriate form of mobilization is implemented;
b) Conditions for capital mobilization are met in accordance with housing laws;
c) Capital mobilization is appropriate to each type of housing in accordance with this Law;
d) Compliance with anti-money laundering laws is guaranteed;
d) Compliance with bidding laws and other relevant laws is guaranteed; in case of state funding mobilization in accordance with Article 113 hereof, compliance with state budget and public investment laws is also guaranteed;
e) Parties contributing capital, cooperating in investment, engaging in business collaboration, joint venture, consortium according to Point a Clause 1 Article 114 hereof shall only receive profit share in form of money or shares based on percentage of capital contribution agreed upon in contracts; developers of housing investment and construction projects are not allowed to implement capital methods under this Point or other mobilization methods to distribute housing products or prioritize registration, deposit, reception of the right to purchase houses or distribute land use right in projects to parties receiving mobilized capital, except for cases where capital contribution establishes new juridical person in order to be assigned as developers of housing investment and construction projects by the Government.
2. Capital mobilization that does not conform to appropriate forms or does not meet conditions applicable to specific types of houses in accordance with housing laws, capital mobilization shall be illegitimate.
3. The use of capital for housing development shall conform to principles below:
a) ensure transparency; protect legitimate rights and benefits of entities whose capital is mobilized;
b) the use must serve housing development and execution of housing investment and construction projects; mobilized capital must not be used for other purposes;
c) allocation and use of funding sources for housing development shall conform to approved provincial housing development programs and plans.
Article 117. Concessional loans via Bank for Social Policies for social housing development
1. The Bank for Social Policies shall grant concessional loan at low interest rates and extended loan term via capital allocation from budget for Bank for Social Policies for execution of national target programs, public investment programs regarding housing and construction of social housing, housing for people’s armed forces according to regulations of the Government and Prime Minister from time to time.
2. The Bank for Social Policies is allowed to mobilize saving deposits of domestic households, individuals that wish to purchase, lease-purchase social housing, housing for people’s armed forces in order to grant loan to these entities at preferential interest rates and extended loan term following a definite duration of saving deposit.
3. The Bank for Social Policies shall keep separate entries for management and use of funding sources in accordance with Clause 1 and Clause 2 of this Article.
4. The Government shall elaborate this Article.
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Luật Nhà ở 2023 (Bản Word)
