Lawmakers call for enabling social housing for lease
HCMC – A National Assembly (NA) deputy has expressed concerns that current social housing policies are more focused on promoting homeownership rather than fulfilling people’s right to accommodation. During a NA session on June 19, Nguyen Van Hien, a legislator and head of the Institute of
Finance minister proposes social home prices require prior approval
HCMC – Finance Minister Ho Duc Phoc, speaking at the National Assembly (NA) session on June 5, emphasized the need for authorities to give prior approval of social home prices. Social housing projects are developed either by state agencies or companies. Minister Phoc suggested that if the projects
In vicious cycle
The disbursement of the VND120-trillion credit package has been much slower than expected, with very few applicants since its launch over a month ago. Many housing developers are not eligible to access loans, while numerous new projects are still on the way to getting their legal procedures
Around 100 projects eligible for VND120-trillion credit package
HCMC – Around 100 projects have been found eligible for soft loans in the VND120-trillion credit package since it was rolled out one month ago. Speaking at a National Assembly discussion yesterday of the nation’s socio-economic performance this year, Minister of Construction Nguyen Thanh Nghi
Lending rate of 4.8% to be offered for social housing
HCMC – The prime minister has issued Decision 486 authorizing the Vietnam Bank for Social Policies (VBSP) to offer a preferential lending rate of 4.8% per year to loans for buying and lease purchase of social homes and building or repairing houses. The bank is requested to take full responsibility
High interest rate makes social home loans unattractive
HCMC – The high interest rate discourages eligible individuals from taking out loans to buy social homes, according to a recent survey of HCMC residents. Four major State-owned commercial banks – Agribank, BIDV, Vietcombank and VietinBank – have been entrusted by the central bank SBV to make soft
Affordable housing requires new policy
Prime Minister Pham Minh Chinh signed Decision 338/QD-TTg on April 3, 2023, approving an investment plan to build at least one million social homes in the 2021-2030 period. Given the current stagnant property market, there is a pressing need to consider implementing new policy to develop
Authorities to oversee prices of social homes
HCMC – The Ministry of Construction would inspect the real estate sector, particularly social housing projects that are offered at higher prices than normal, said the ministry at its quarterly press conference on April 24. With many social housing projects advertised to be sold at a price hundreds
Construction Ministry wants target for social homes reduced
HCMC – The Ministry of Construction has proposed the prime minister lower the target of building social homes for workers and low-income people to just over one million in 2021-2030. The budget for the plan would also be cut by VND280.5 trillion. The proposal received approval from most
Administrative bottlenecks impede social housing projects
HCMC – Despite the Government’s financial packages, low-income buyers still have difficulty acquiring a social home in HCMC due to red tape. According to the city’s Department of Construction, HCMC has many long-stalled social home projects for low-income people and workers, with administrative
Two huge credit packages are good news for struggling real estate sector
HCMC – Struggling with difficult access to bank loans, the real estate sector has got good news that two major credit packages totaling VND230 trillion would be launched after Prime Minister Pham Minh Chinh met with real estate businesses on Friday. At a hybrid conference on solutions to pull the
VND110-trillion social housing credit package proposed
HCMC – The Ministry of Construction has proposed a social housing stimulus package worth VND110 trillion to house tenants, buyers and developers. The ministry has yet to give details on the allocation of the package, but it said the package should be similar to the VND30-trillion credit package