Abolish residence conditions for social housing buyers
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), commented that the revised Housing Law recently passed by the National Assembly is overall very good, very positive, suitable for practice, ensuring the consistency and unity of legal regulations and can be said to be the best quality new Housing Law in over 30 years.
Abolish residence conditions for social housing buyers.
Regarding social housing policies, according to HoREA, Chapter VI of the revised Housing Law has synchronously regulated policy mechanisms for social housing development, first of all to implement the Program to develop at least 1 million social housing units (NOXH) in the period of 2021-2030 with a number of outstanding policies.
Accordingly, Clause 5, Article 77 of the 2023 Housing Law stipulates "support for preferential loans from the State through the Social Policy Bank and credit institutions designated by the State" for beneficiaries of social housing policies to "buy, hire-purchase social housing or build or renovate, repair housing" or "to buy, hire-purchase housing for the people's armed forces" allowing "credit institutions designated by the State" to provide preferential loans to beneficiaries of social housing policies to "buy, hire-purchase social housing", overcoming the shortcomings of Clause 4, Article 50 of the 2014 Housing Law, which did not allow these credit institutions to provide loans to buy or hire-purchase social housing.
The Chairman of HoREA believes that Article 78 of the 2023 Housing Law stipulates that "conditions for enjoying social housing support policies" have abolished "residence conditions", or assigned the Government to stipulate "income conditions" for subjects eligible to buy or rent social housing, or stipulate that "subjects renting social housing do not have to meet housing and income conditions" is very reasonable, to suit the reality of labor migration and attracting highly qualified and skilled workers between regions and localities and to suit the practical situation in each period.
Provincial People's Committee decides on policy of allocating land fund for social housing construction
Clause 2 and Clause 3, Article 83 of the 2023 Housing Law stipulate: "In special, type I, type II and type III urban areas, based on the Government's regulations, the Provincial People's Committee shall decide that the investor of a commercial housing construction investment project must reserve a part of the residential land area in the project that has invested in building a technical infrastructure system to build social housing or arrange the social housing land fund that has invested in building a technical infrastructure system in a location other than the scope of the commercial housing construction investment project in that urban area or pay money equivalent to the value of the land fund that has invested in building a technical infrastructure system to build social housing".
The Provincial People's Committee decided that investors of commercial housing construction projects must reserve land for social housing construction.
At the same time, the regulation "For urban areas not covered by the provisions of Clause 2 of this Article (Article 83 - PV), the Provincial People's Committee shall, based on local conditions, prescribe criteria for commercial housing construction investment projects in which the investor of the commercial housing construction investment project must reserve a portion of the residential land area in the project that has invested in the construction of a technical infrastructure system to build social housing or arrange the social housing land fund that has invested in the construction of a technical infrastructure system in a location other than the scope of the commercial housing construction investment project in that urban area or pay money equivalent to the value of the land fund that has invested in the construction of a technical infrastructure system to build social housing" is very necessary, reasonable, and practical, in order to implement the policy of socializing investment, mobilizing resources from all commercial housing project investors to participate in the development of social housing and has overcome the inappropriate provisions of the 2014 Housing Law and Decree No. No. 100/2015/ND-CP, Decree No. 49/2021/ND-CP.
“Clause 2, Article 85 of the 2023 Housing Law stipulates that “investors of social housing construction investment projects” not using state budget capital are entitled to incentives, such as “Exemption from land use fees and land rent for the entire land area of the project; Incentives for value added tax and corporate income tax according to the provisions of the law on tax; Enjoying a maximum profit of 10% of the total construction investment cost for the area of social housing construction; Being allocated a maximum of 20% of the total residential land area within the scope of the project that has invested in building technical infrastructure systems to invest in building business, service, and commercial housing works;
Being able to borrow capital at preferential interest rates; in the case of building social housing for rent, being able to borrow capital at lower interest rates and longer loan terms than in the case of building social housing for sale or rent-to-own according to the regulations of the Prime Minister in each period;... is very necessary, reasonable, meeting part of the wishes of investors in social housing projects, creating conditions to attract businesses and investors to participate in developing social housing to implement the Program to develop at least 1 million social housing units in the period of 2021-2030", Mr. Chau said.
In particular, Section 3 and Section 4, Chapter VI of the 2023 Housing Law, which stipulate "development of workers' accommodation" and "development of housing for the people's armed forces", have added very important and practical mechanisms and policies to address the need for social housing for workers, laborers, cadres, civil servants, officers, non-commissioned officers, and employees of the armed forces.
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