The Government Office has just issued a document on organizing a national conference on removing difficulties and obstacles and promoting the development of social housing, in which the Prime Minister requested the State Bank to report on the proposal to provide preferential loans to young people under 35 years old.
Banks are offering low-interest packages for young people to buy houses, which is a good opportunity for young people to realize their dream of settling down, and is also a driving force for sustainable development of the real estate market. In the photo: A social housing project in Ho Chi Minh City - Photo: NGOC HIEN
The Government Office has just issued Official Dispatch No. 1600 to ministries and the State Bank of Vietnam regarding the organization of a national conference to remove difficulties and obstacles and promote the development of social housing.
Request for report on proposal for young people under 35 years old to get long-term preferential loans
Specifically, the Government Office said that in order to organize a national conference on removing difficulties and obstacles, promoting social housing development and effectively implementing the project "Investing in the construction of at least 1 million social housing units for low-income people and industrial park workers in the period 2021-2030", the Prime Minister requested the Ministry of Construction to report on social housing development and implementation of the project of 1 million social housing units.
At the same time, the ministry was also asked to propose inviting large real estate enterprises to advise the Government on removing difficulties and obstacles, promoting the development of social housing and implementing the above project.
The State Bank has a report on removing difficulties and obstacles in accessing credit capital for real estate businesses.
Report on disbursement of VND 120,000 billion in loans to support businesses in soon completing projects to develop social housing, worker accommodation, and renovate and rebuild apartment buildings.
Notably, the Prime Minister asked the State Bank of Vietnam to report on the proposal to provide long-term preferential loans to young people under 35 years old.
In addition, the Ministry of Agriculture and Environment was requested by the Prime Minister to report on removing difficulties and obstacles for projects related to land law such as determining land prices, calculating land use fees, etc.
The Ministry of Finance reported on the impact of tax policies, removing difficulties and obstacles related to bidding procedures...
A series of 'big guys' were invited by the Government to discuss solutions for building social housing
Large real estate enterprises such as Vingroup, Sungroup, BRG, Viglacera, HUD, Novaland, Him Lam... were invited by the Government to participate in the National Conference to remove difficulties and obstacles, promote the development of social housing, held this weekend.
To promote the development of social housing in the coming time, the Prime Minister has agreed with the proposal of the Ministry of Construction to organize a national conference with the participation of a series of "big guys" in the real estate industry, banks and associations.
The conference is scheduled to be held on March 6 in Hanoi and broadcast online to 63 locations across the country.
A leader of the Ministry of Construction said the conference will have the participation of 43 leading real estate enterprises, 2 real estate associations and 10 banks.
It is expected that 10 real estate corporations and groups will be invited to present solutions for social housing development at the conference, including: Vingroup, Sungroup, BRG, Becamex IDC Binh Duong, Viglacera, HUD, UDIC, Nam Long, Ecopark, and General Corporation 319 of the Ministry of National Defense.
Some enterprises that have implemented many social housing development projects in recent years were also invited to participate in the conference to find solutions such as: NHS Construction Investment Joint Stock Company, Le Thanh Construction Trading Company Limited, Hoang Huy Group.
To remove the bottleneck of cheap capital for social housing, the group of 10 banks that have participated in lending capital for social housing development such as: Vietnam Bank for Social Policies, BIDV, Vietcombank, Vietinbank, Agribank, MBBank, Techcombank, VPBank, TPbank, HDBank were also invited by the Government to propose solutions for implementation.
In a report sent to the Prime Minister ahead of the national conference on social housing, the Ministry of Construction said that from 2021 to present, localities across the country have completed investment in 103 social housing projects, with a construction scale of 66,755 apartments.
In 2024 alone, the whole country will complete construction of 28 projects with a construction scale of 21,874 apartments, an increase of 58% compared to 2023.
Localities with a number of completed social housing units higher than the target in the Government's Project to build 1 million apartments by early 2025 include: Khanh Hoa 3,364 units, An Giang 1,809 units, Binh Dinh 4,427 units, Hanoi 11,334 units, Bac Ninh 7,020 units.
Meanwhile, some localities have completed social housing numbers much lower than the target in the project such as: Ho Chi Minh City 2,745 units, Binh Phuoc 350 units, Binh Duong 2,045 units, Quang Ninh 412 units.
At a recent conference with commercial banks, the Prime Minister requested the State Bank and commercial banks to research and continue to have preferential credit packages for both supply and demand to develop social housing and housing for young people under 35 years old.
After that, many banks launched preferential interest rate packages for young people buying their first home, such as loan interest rates from 5.5% fixed for 5 years or a credit package of 16,000 billion VND with interest rates from only 3.99%/year with a maximum loan term of up to 35 years, principal repayment exemption for up to 5 years...
Speaking to Tuoi Tre Online , Mr. Le Hoang Chau - Chairman of the Ho Chi Minh City Real Estate Association - said that the pioneering banks offering preferential credit packages for young people buying their first home with preferential interest rates, loan terms and flexible payment policies has contributed significantly to helping young people have the opportunity to buy a home.
However, Mr. Chau said that the issue that people are worried about is the floating interest rate after the preferential period, so banks need to announce the interest rate calculation mechanism for the following periods.
Procedures make social housing difficultSource: https://tuoitre.vn/thu-tuong-yeu-cau-ngan-hang-bao-cao-ve-de-xuat-cho-nguoi-tre-duoi-35-tuoi-vay-uu-dai-dai-han-20250303165014725.htm
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