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Ministry defends property circular

Update: March, 04/2014 - 09:16
Deputy Minister of Construction, Nguyen Tran Nam, denied accusations from the Ministry of Justice, which said the circular was not valid and would provide investors with loopholes to swindle customers.— Photo vnexpress

HA NOI (VNS)— The Ministry of Construction has issued a strong response to public queries regarding Circular 16.

The circular was described as providing vague regulations on the ownership of public and private areas in high-rise apartments in disputes arising between buyers and sellers.

At a Government press conference last Friday, Deputy Minister of Construction, Nguyen Tran Nam, denied accusations from the Ministry of Justice, which said the circular was not valid and would provide investors with loopholes to swindle customers.

The circular provides two different definitions for apartments: that of floor space, the area of walls and electrical boxes, elevators and hallways, he said.

"Investors and customers can negotiate to take one of the two measures but are not forced to take both. Either way, the price of an apartment won't be different," he stressed.

The deputy minister added that they would scrap a method after receiving complaints that management and maintenance fees would incur losses for the customer in the long-term.

"Many homebuyers pay little attention to their rights and responsibilities due to the lack of legal knowledge. As a result, the contracts they sign do not mention the way of measuring apartments," he said.

However, in order to prevent disputes between home buyers and investors, the Ministry of Construction on February 20 issued Circular 30, which stipulated that apartment areas would include only the floor space.

"From now on, all apartments will be measured following this way", Nam was quoted by Thoi bao Ngan hang (Banking Times) as saying. — VNS

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