The Government has just issued Resolution No. 33/NQ-CP dated 11/3/2023 on a number of solutions to remove and promote real estate market safe, healthy and sustainable development.
This resolution states: The market real estate plays an important role in the economy and affects many industries, professions and fields. However, in 2022 and especially the second half of 2022, the real estate market will face many difficulties due to the general context of the world’s economic and real estate situation as well as Vietnam’s economy is in the process development recovery program; Some existing problems and limitations have not been completely overcome.
| Over the past time, the real estate market has faced many difficulties and unsustainable development (Illustration image: Ha Phong). |
Real estate market situation There have been changes, however, there are still many difficulties in terms of institutions, credit sources, bonds, etc. and local enforcement organizations need to be focused on removing and promoting, the Government unanimously directs the levels, sectors and localities 6 main tasks and solutions. Specifically:
Institutional improvement
The Government continues to study and perfect the institution, build a legal system related to construction investment, housing and real estate business to ensure synchronous and feasible, in which focus:
Expeditiously develop and submit to the National Assembly for consideration and approval the revised Land Law, the revised Housing Law, the revised Real Estate Business Law, the revised Bidding Law, the revised Law on Auction, and the revised Price Law. Amended Law on Credit Institutions…
Actively research, develop and submit to the National Assembly for consideration and promulgation “Resolution of the National Assembly to pilot a number of policies to promote development of social housing”.
Urgently amend and supplement Decrees guiding the implementation of the Law in order to remove current shortcomings, limitations, obstacles and difficulties related to the implementation of construction investment, business, and project transfer. real estate projects, more suitable to the actual situation and ensure the consistency and synchronization of the legal system.
To study, formulate and promulgate a “Decree stipulating the process, order and procedures for implementing investment projects on construction of commercial houses and urban areas” for localities to facilitate and unify. best. At the same time, localities need to immediately issue regulations, guidelines and solutions for problems falling under their decision-making authority; problems falling under the deciding competence of the Government or the Prime Minister shall report them to the Government or the Prime Minister for consideration and decision.
Completing mechanisms and policies to exploit and mobilize maximum financial resources at home and abroad for housing development in particular and the real estate market in general.
Promoting social housing development
While waiting for the National Assembly to approve the revised Housing Law to remove the current difficulties and obstacles in housing development in general, social housing development in particular, the Government builds, submit to the National Assembly for consideration and promulgation “Resolution of the National Assembly to pilot a number of policies to promote the development of social housing” to immediately remove a number of specific difficulties and obstacles in order to create motivation for the development of social housing. social housing development in the coming time; in which special attention is paid to the content of major problems in recent times.
Specifically: Regarding land allocation to invest in the construction of social housing projects; Regarding planning and arrangement of land fund for social housing development; Regarding the selection of investors in social housing projects; Regarding benefits and incentives for investors; Regarding determination of selling prices, rental prices, and rental-purchase prices of social housing; Regarding subjects and conditions to enjoy social housing policies…
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| Promoting the development of social housing is one of the tasks and solutions in this Resolution No. 33 (Artwork: Ha Phong). |
Urgently complete, promulgate and effectively implement the Project “Invest in building at least 01 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period” to immediately remove a number of specific difficulties and obstacles in social housing development, increase the supply in line with demand, and the ability of low-income people with high demand for affordable housing.
Determining the investment and development of social housing for low-income workers is an investment item in the medium and long-term capital sources of localities.
To support capital for social housing development, it is proposed to implement a credit program of about VND 120,000 billion (equivalent to about 12% of the capital need to promote the achievement of the goal of completing at least 1 million housing units). social housing, worker housing for the period 2021-2030) to lend to investors and homebuyers of social housing and worker housing projects with a lower interest rate of about 1.5-2% compared with the average medium and long-term VND lending interest rates of state-owned commercial banks (including Agribank, BIDV, Vietcombank, Vietinbank) in the market from time to time and qualified non-state commercial banks conditions for each specific credit package.
Regarding credit capital, flexibly and synchronously operating monetary policy tools, meeting the needs of credit capital flows for socio-economic development; perfecting mechanisms and policies to exploit and mobilize maximum financial resources at home and abroad for housing development in particular and the real estate market in general.
Businesses, homebuyers and investors are facilitated to quickly access credit; take appropriate handling measures for difficult real estate businesses (such as rescheduling principal, interest, restructuring debt groups…); focus on feasible projects and loan plans, customers with financial capacity, ability to repay debt in full and on time; giving priority to residential real estate projects, meeting the real needs of the people, with efficiency and good liquidity such as social housing, renovation of old apartments, offices for lease, real estate for production. export, industry, tourism…
In addition, there are appropriate and effective measures to reduce lending interest rates and support the real estate market.
Regarding corporate bond capital, that is to direct, guide and implement capital mobilization activities (including bond issuance) of real estate businesses on the stock market in accordance with regulations. law.
Controlling capital mobilization activities of real estate businesses on the stock market to avoid speculation, manipulation and price blowing. At the same time, creating conditions, not hindering enterprises (with sufficient capacity, good and healthy business results…) can mobilize capital to support recovery and development.
Inspect and supervise the compliance with the law on issuance, investment and provision of services on corporate bonds, especially private bond issuance by real estate enterprises and related credit institutions. related to real estate businesses, businesses with large issuance volume, high interest rates, businesses with loss-making business results, and issuers without collateral.
Research and propose synchronous policies and solutions to develop the corporate bond market in a safe, healthy and sustainable manner.
Implementation organization of the localities
The resolution also requires raising the sense of responsibility of heads, cadres and civil servants; overcome psychological fear of wrong, fear of responsibility, …
Promote reform of administrative procedures, focus on removing difficulties in legal procedures of real estate projects in the locality.
Accelerate approval of planning, approval of investment policies, selection of investors to implement real estate projects, financial obligations on land to increase supply for the market.
Promote the development of social housing, housing for workers and renovate and rebuild old apartment buildings in the area.
Information and communication restore trust, support the market and the operation of real estate businesses.
Promote information and communication that clearly shows the strong message and commitment of the Government and the Prime Minister to accompany localities and businesses to remove difficulties for the real estate market; no criminalization of economic – civil relations; protect the people and businesses that do the right thing; harmonize the interests of the state, people and businesses
Strictly and effectively controlling and censoring inaccurate and unorthodox social information channels can have negative impacts on people’s psychology, investors, customers and the market, especially Information can affect economic recovery and growth.
Promote the publication, publicity and transparency of information, especially timely propagating, disseminating and publicizing the State’s new policies, regulations and solutions on credit and bonds. stocks, the situation of the real estate market…, so that the society has accurate and official information, thereby stabilizing the psychology and stabilizing the market.
Strengthen supervision, strictly and promptly handle acts of giving inaccurate information, causing negative impacts on the operation of the financial, credit and real estate markets.