Attracting foreign investment fund in property market, long term fund mobilization with low and sustain interest rate in expat, many opinions said that it need to approve property right mortgage, asset is relative to property in bank located expat.
More cheap equity
Manager of a real estate group said currently he has plenty of land sources, good place so many foreign partners, included many big groups from Japan would like to partnership. Besides foreign investors have experiences in property development, they also take advantage of equity resource, noted it has low interest rate, about 3% a year.
However, to mobilize equity with low interest rate and long term in expart, partners would like to mortgage in expart which is doing business with them to have long loan with low interest rate. “Because law currently bans mortgage of property in expart bank so two sides are negotiating to find the other solutions of investment as calling partner pay cash”, he said
Foreign people easily buy house in Vietnam
According to Le Hoang Chau, chairman of HCM city real estate associate, currently, land law not approved land using right, asset relative to property in expart bank. This regulation is not suitable anymore in the context of integration of our nation, limit the mobilization of financial resources from international organizations and expart investors to server nation development target. Therefore, opening the gate to approve mortgage of property in expart bank is necessary, help developing trust and making sure benefit for investors, especially expart ones. However, accepting morgate of using land right, asset relative to land in foreign have to make sure nation sovereignty. At the same time, it is need to regulate particularly when it has dispute about land right then have to solve according to Vietnam law
“We need to fix and add the no.174 of land law which allows organization which has right of using land from state, the authority receive leasing money one time for the whole leasing time which morgate by using land right, asset belong self-right relative land in financial organization which approved to operated in Vietnam or in financial organizations in expart, in case of happening confict then solve it according to Vietnamese law”, said Chau.
Bizlive