Ha Noi to stop licensing new commercial housing in city centre

Ha Noi will halt the licensing of new commercial housing projects in the centre in three years' time, according to the city's proposed Housing Development Programme for the 2012-20 period.

People's Committee statistics showed real estate inventories in the city remained high with 5,789 apartments (totalling 566,000 sq.m).

The committee's deputy chairman Nguyen Van Suu said the city was speeding up inventory reduction by allowing properties to be converted into social housing or structurally adjusted. - Source: VNS