Disbursed 1,234 billion VND in social housing loan credit package, mainly for investors
Of the disbursed capital, 1,202 billion VND went to investors in 12 projects and 32 billion VND went to home buyers in 5 projects.
According to information from the Ministry of Construction, in the second quarter of 2024, there will be 9 social housing projects implemented nationwide.
Of these, 3 projects were completed with a scale of 1,120 apartments. Specifically, one project in Quang Ninh was fully completed, two projects in Ho Chi Minh City and Long An were partially completed.
During the period from 2021 to the end of the second quarter of 2024, 619 social housing projects will be implemented nationwide, with a scale of 561,816 units. Of these, 79 projects have been completed with a scale of 40,679 units; 128 projects have started construction, with 111,688 units; 412 projects have been approved for investment, with a scale of 409,449 units.
Regarding the 120 trillion VND credit package for social housing loans. Currently, 4 state-owned commercial banks (BIDV, Vietinbank, Agribank, Vietcombank) have disbursed 1,234 billion VND, including: 1,202 billion VND for investors in 12 projects; 32 billion VND for home buyers in 5 projects.
Currently, Tien Phong Bank (TPbank) and VPBank have registered to participate in the program. Each bank participates in a loan package of 5,000 billion VND.
Currently, only 32/63 provincial People's Committees have sent documents or announced on the electronic information portal the list of projects participating in the program with 73 projects. Of which , Hanoi, Ho Chi Minh City, Bac Ninh, Binh Dinh each province has announced 5-6 projects.
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| According to the target assigned in the Government's project to develop at least 1 million social housing units, by 2025, Hanoi must complete 18,700 units. |
According to real estate businesses, whether the goal of building one million social housing units by 2030 can be achieved or not depends on many support policies from the Government, including credit policies.
In general, the current regulations on conditions for purchasing social housing are much more open and easier to breathe than the old regulations. According to the Government's regulations from August 1, 2024, people eligible to buy social housing with an income of no more than 15 million VND/month, households with an income of no more than 30 million VND/month will be eligible for preferential loans to rent, buy, or rent-purchase social housing.
With this condition, the target group for social housing buyers will expand greatly, especially young families. However, the income conditions for social housing buyers are currently stipulated in a decree issued by the Government.
According to Mr. Le Huu Nghia, Director of Le Thanh Construction and Trading Company Limited, when market prices fluctuate, adjustments must be made. Political organizations, social organizations, and related associations need to pay attention and monitor the application of this regulation. If this condition is outdated, they should recommend the Government to make adjustments.
Meanwhile, Mr. Nguyen Quoc Hiep, Chairman and General Director of Global Real Estate Investment Joint Stock Company (GP.Invest), said that although social housing project investors are exempted from land use fees, the preferential policy is not attractive enough for businesses investing in social housing projects. It can be seen that if the loan interest rate is about 8%/year, it is not much different from the loan for commercial housing, so it is difficult to encourage businesses to participate.
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