Deputy Minister of Construction Nguyen Van Sinh said the revised Housing Law will loosen criteria on residence and income, helping people to easily access social housing.
At the 2023 Socio-Economic Forum on September 19, Deputy Minister of Construction Nguyen Van Sinh said that previously there were 3 criteria to determine who could buy social housing: residence, income and housing area, but in the draft amendment to the Housing Law, the requirement on residence will be removed. "We have determined that if you are a Vietnamese citizen, you have the right to buy if you meet the income and housing requirements," said Mr. Sinh.
The income criteria will also be raised. The housing area, which was previously regulated to be below 10 m2/person on average, will be assigned to the Government for consideration to increase to 15 m2/person, depending on each period, similar to other countries in the region.
Deputy Minister of Construction Nguyen Van Sinh speaks at the forum. Photo: National Assembly Media
According to regulations, those who are eligible to buy social housing include: People with revolutionary contributions; poor and near-poor households in rural and urban areas; low-income people in urban areas; workers in industrial zones; officers, soldiers, workers in police and military units; households and individuals whose land is subject to land recovery but have not yet received compensation.
In particular, the condition for "low-income people" in big cities is that family members have income that is not subject to personal income tax, which is no more than 11 million VND per month. In addition, people who are considered to buy social housing must not have a house, or have a house but the area is less than 10 m2/person.
In addition, Mr. Sinh said the bill also focuses on a group of policies to allocate land funds for social housing development. While the previous law required 20% of land funds in commercial housing projects in urban areas of type 3 or higher to be allocated for social housing, this time the Government submitted a proposal to assign the provincial People's Committee to take the initiative.
Provincial People's Committees can decide to reserve 20% of land fund in commercial housing projects as well as reserve land fund in independent projects for social housing development. "This is an important point to help meet the land fund for social housing development," said Mr. Sinh.
Regarding preferential policies, participating investors will be exempted from land use fees, enjoy 10% profit, and be given 20% of the commercial service land area to invest in utilities and commercial services to serve residents in their project area. Investors can also borrow preferential capital through commercial banks and social policy banks.
Deputy Director of Hanoi Department of Construction Mac Dinh Minh. Photo: National Assembly Media
Deputy Director of the Hanoi Department of Construction Mac Dinh Minh said that according to the social housing development strategy approved by the Government, the city's goal is to develop 6.8 million square meters. To achieve this goal, he proposed reforms in procedures, especially in selecting investors to participate in social housing projects.
Specifically, regarding land use fees from 20% of land fund for social housing development in commercial housing projects, Mr. Minh proposed to use this money through the local housing development fund to develop investment or preferential loans for social housing development and increase the standard profit of investors participating in social housing construction to 15% instead of 10% as before.
The demand for social housing in urban areas such as Hanoi and Ho Chi Minh City is very high. In mid-April, people lined up from 2am to submit applications to buy social housing at NHS Trung Van, Cau Giay District, Hanoi. Meanwhile, the conditions for buying are unreasonable, for example the regulation of "not having a house of one's own" will make it difficult for workers who have houses in the countryside and want to start a business in urban areas.
The Vietnam Socio-Economic Forum 2023 with the theme "Enhancing endogenous capacity, creating momentum for growth and sustainable development". The event is jointly organized by the National Assembly's Economic Committee, the Central Economic Committee, the Ho Chi Minh National Academy of Politics and the Vietnam Academy of Social Sciences.
At the forum, delegates will participate in two topics including "Strengthening internal strength, unleashing resources, supporting businesses to overcome difficulties"; "Improving labor productivity and ensuring social security in the new context" and a plenary session.
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