Interest rates on social housing loans must be 3-5% lower than regular loans; Three new laws on real estate will take effect 6 months early
Prime Minister: Interest rates for social housing loans must be 3-5% lower than normal interest rates; The Government proposes the Law on Land, Housing, and Real Estate Business to take effect 6 months early; Construction of additional 4-5 star hotels along the coast should be temporarily suspended.
Prime Minister: Interest rates on loans to buy social housing must be 3-5% lower than normal interest rates
Recently, Prime Minister Pham Minh Chinh chaired a meeting on the implementation of the project "Investing in the construction of at least 1 million social housing apartments for low-income earners and industrial park workers in the 2021-2030 period".
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| The interest rate of the VND120,000 billion credit package is still not really attractive to home buyers. Photo: Le Toan |
Reporting at the meeting, Deputy Minister of Construction Nguyen Van Sinh said that implementing social housing projects from 2021 to present, the whole country has 503 social housing projects with a scale of 418,200 units.
Regarding the support capital of 120,000 billion VND, up to now, 6 banks have participated in the program, with each bank registering 5,000 billion VND. Currently, the banks have disbursed 1,144 billion VND (including 1,133 billion VND for investors in 11 projects; 11 billion VND for home buyers in 4 projects).
The Deputy Minister of Construction frankly pointed out that many large provinces and cities with many industrial parks such as Hanoi, Ho Chi Minh City, Da Nang, Can Tho, and Long An still have low social housing implementation rates compared to the project's targets. In addition, the disbursement of the VND120,000 billion credit package is still slow. Enterprises investing in social housing still face difficulties in accessing land...
In his concluding remarks, Prime Minister Pham Minh Chinh requested the need to diversify resources for social housing development, including resources from the State, the people, society, and credit institutions (including state-owned and non-state commercial banks) to support both sellers and buyers. Procedures and conditions for borrowers to invest in social housing and buyers, renters, and hire-purchasers must be simpler.
The Prime Minister assigned the State Bank to be in charge of arranging credit for both buyers and sellers; urgently directed major state-owned commercial banks to join hands with businesses to research, develop, and provide credit packages for buyers, expand credit packages, extend loan terms to 10-15 years, and offer preferential interest rates 3-5% lower than normal commercial loans.
In addition, the Prime Minister directed the State Bank to study and guide commercial banks to create conditions for businesses to mortgage and borrow capital to implement social housing projects more simply and conveniently.
The Government proposes the Law on Land, Housing, and Real Estate Business to take effect 6 months early.
In Resolutions No. 72 and 73 dated May 17, the Government agreed with the proposal to draft a National Assembly Resolution amending the 2024 Land Law, the Housing Law, and the Real Estate Business Law to take effect from July 1, instead of January 1, 2025 as approved at the Session earlier this year.
To officially take effect 6 months early, these Resolutions are expected to be submitted to the National Assembly for approval at the 7th session opening from May 20.
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| The trio of new laws are expected to change the face of the real estate market. Photo: Dung Minh |
Previously, the Ministry of Natural Resources and Environment proposed to put the 2024 Land Law into effect early to promptly resolve and completely handle land backlogs. At the same time, this will promote the development of the real estate market, promote the potential and efficiency of land resources.
Dong Anh (Hanoi) is about to have another smart urban area worth 33,000 billion VND
Recently, the Department of Planning and Investment of Hanoi City has announced to find investors to implement the smart - ecological urban area project in Dong Anh district.
The project will be located in three communes of Dong Anh district, including Tam Xa, Vinh Ngoc, Xuan Canh. The urban area has a scale of 268 hectares with an expected number of apartments of about 12,833 units. When completed, this is expected to be the settlement of about 38,500 people.
The total initial investment capital of the project is 33,093 billion VND. Of which, the amount for compensation and resettlement support is estimated at about 2,090 billion VND. Currently, this land has not been cleared.
The project's duration is 50 years from the date the investor is decided to allocate and lease the land. The project implementation progress is until the end of 2031. Interested enterprises can submit their application to implement the project before June 29.
In the immediate future, Dong Anh and Gia Lam are two districts in Hanoi that will become districts before 2025. However, this is not the only advantage of Dong Anh district.
Specifically, in the project to adjust the general planning of Hanoi Capital to 2045, with a vision to 2065, Hanoi will allocate resources to build the northern city, located in Dong Anh, Me Linh and Soc Son districts.
The northern city of Hanoi will take Noi Bai airport as the core to guide the development of industries and services. At the same time, this will also be the financial service center and high-tech industry of Hanoi.
Nghe An calls for investment in housing project in Cua Lo
The Department of Planning and Investment of Nghe An province has just issued a notice inviting interested investors to submit registration documents for the implementation of a housing project in Nghi Thu and Nghi Huong wards, Cua Lo town.
Accordingly, the project has a total area of 15.65 hectares, with a population of 1,700 people. Products and services provided in this project include housing, residential land, commercial service area, cultural house, technical infrastructure system, traffic roads, parking lots, green areas - sports.
The total cost of the project is about 900 billion VND. Of which, the cost of compensation, support and resettlement is more than 71 billion VND.
The project implementation period shall not exceed 50 years. The project implementation progress shall be 5 years from the date of the decision on land allocation, land lease, decision on land use conversion or the date of land handover and meeting the conditions for commencement of construction as prescribed by law.
The deadline for submitting bids for this project is before June 10.
Auction of land plot of more than 1,300m2 in Ha Dong (Hanoi)
Bao Phong Joint Stock Auction Company has just announced the auction of assets of the Hanoi City Civil Judgment Enforcement Department.
According to the announcement, the auctioned property is a land plot with an area of 1,361.5 m2 on Phung Hung Street, Phuc La Ward, Ha Dong District, Hanoi City. The starting price of the land plot is more than 52.6 billion VND, the deposit is 10.5 billion VND.
The deadline to register to participate in the auction is May 31. The auction will be held on June 3 at Bao Phong Joint Stock Auction Company.
Auction of 44 land lots in a district about to become a city in Hai Phong
Hai Phong City Property Auction Service Center and Thuy Nguyen District Land Fund Development Center will organize an auction of the right to use 44 land lots for housing purposes in Thuy Nguyen District, Hai Phong City.
According to the announcement, the auctioned assets are land use rights for housing purposes including 41 plots of land in Lang Ruoc area, Ngu Lao commune and 3 plots of land in Hamlet 4, My Dong commune, Thuy Nguyen district, Hai Phong city. The starting price of the plots of land ranges from 14 to 15 million VND/m2.
The deadline for receiving registration documents to participate in the auction is May 27. The auction will be held on May 30 at the Hai Phong City Property Auction Service Center.
Should temporarily stop building more 4-5 star hotels along the coast
According to Knight Frank, the current number of tourists only fills one-third of the rooms in 4-5 star coastal hotels. Each year, this segment records nearly 20 million vacant rooms. Therefore, investors should consider temporarily suspending the implementation of new projects.
Mr. Ben Gray, Director of Capital Markets at Knight Frank Vietnam, said that the risk of oversupply is emerging, with low room occupancy rates like in Phu Quoc, or the booming new construction trend in Ha Long Bay.
"These locations have seen an indiscriminate development of hotel projects. However, the tourism infrastructure as well as the projects themselves are in a state of oversupply," Mr. Gray commented.
The number of 4-5 star coastal hotel rooms will hardly be filled quickly overnight. In 2024, the tourism industry aims to welcome 17-18 million international visitors, a figure that is only approximately the pre-pandemic level.
Source: https://baodautu.vn/batdongsan/lai-vay-mua-nha-o-xa-hoi-phai-thap-hon-3---5-khoan-vay-thuong-bo-ba-luat-moi-ve-bds-se-co-hieu-luc-som-6-thang-d215439.html
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