The Hanoi People's Committee has recently issued a decision on the rental price framework for social housing projects developed without public investment capital or trade union financial resources. The new pricing framework will take effect from April 14.
According to the issued decision, the rental price framework for social housing is delineated based on building height. Specifically, the minimum rental rate is set at VND48,000 per square meter of usable floor area per month for buildings with up to 10 floors. For buildings with 11 to 20 floors, the rate increases to VND55,000 per square meter a month; for those with 21 to 30 floors, it is VND75,000 per square meter a month and for buildings exceeding 30 floors, the rate is established at VND99,000 per square meter a month.
The maximum price for buildings under 11 floors is VND96,000 per square meter of floor space used per month. Those ranging from 11 to 20 floors are priced at VND110,000 per square meter of floor space used per month. For buildings from 21 to 30 floors, the price is VND150,000 per square meter of floor space used per month. Lastly, buildings over 30 floors are priced at VND198,000 per square meter of floor space used per month.
This price structure is designed to guide entities in determining rental rates for social housing projects that, while privately funded or supported by trade union finances, are entitled to legal support and incentives as stipulated by Hanoi's housing regulations.
If a lessor and a lessee disagree over the rental price of social housing, they are required to provisionally apply the rental rate within the prescribed pricing framework until the dispute is formally resolved.
Investors, property owners, and entities responsible for the management and operation of social housing (lessors) are obligated to comply with legal provisions governing investment, construction, utilization, management, and operation, in accordance with the Housing Law and other relevant legislation.
Additionally, rental prices for social housing must be determined in accordance with the applicable legal regulations and within the prescribed pricing framework.
In addition, lessors are required to maintain accounting records of revenues and expenditures to ensure transparency and public accountability in accordance with state regulations. They must also manage, utilize, and provide services in accordance with the terms stipulated in the lease agreement between the parties.
The Hanoi People's Committee has charged the Department of Construction with the responsibility of providing guidance and oversight for the implementation of the social housing rental price framework, ensuring adherence to this regulation and all applicable legal provisions for projects developed without public investment capital or trade union financial resources.
