Socialist Land Use Rights and Sustainable Land Development

Jieming Zhu and Loo-Lee Sim

ERES from European Real Estate Society (ERES)

Abstract: "In 1975, the Vietnam War ended with reunification of the North and South. After years of stagnation in economic growth, the Vietnam government announced a new policy ""Doi Moi"" in 1986, intending to move towards a market-oriented economy while maintaining socialism. In the middle of 1980s, Vietnam's economy was still predominantly agricultural. The 1980 Constitution stipulates that the land is owned by the people and the state functions as an entrusted administrator over national assets. Rights to use land are assigned to organizations and individuals, and the land use rights can be transferred, mortgaged and leased. With the land use rights, individuals and private developers start to exploit the opportunities created by the ""Doi Moi"". Majority of the new housing in the marketplace nowadays is developed by the private individuals. On the one hand, the bottom-up initiatives alleviate the pressure caused by housing shortages. On the other hand, it is questionable whether this market-driven housing development without effective planning controls is sustainable, in view of Vietnam being one of land scarcest countries in the world. "

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2005-01-01
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