Recently, the Ministry of Construction proposed to the National Assembly and the Government to set aside a credit package of regarding 110,000 billion VND to be granted to commercial banks to lend loans to social housing projects and worker housing by the method of refinancing. capital.
According to the Ministry of Construction, this is one of the proposals to promote sustainable development of the real estate market, in the context that this market is facing many difficulties and obstacles, the supply has not met the needs of people. people.
Accordingly, the Ministry of Construction proposed to the National Assembly and the Government to set aside a credit package of regarding 110,000 billion VND. This figure is equivalent to regarding 10% of the capital needs of the period 2022 – 2030, which will be provided to commercial banks to lend to social housing projects and worker housing by the method of refinancing.
According to the Ministry of Construction, this credit package is basically the same as the VND 30,000 billion package that was performed very well in the previous period of 2013 – 2016. The details of this package allocation have not been mentioned but the Ministry of Construction said it will be similar to the VND 30,000 billion package implemented in the period of 2013-2016 when the market faced difficulties.
According to the previous package policy of 30,000 billion VND, regarding 50% of the credit package, equivalent to 55,000 billion VND, will be given to project investors for preferential loans. For buyers of social housing, housing for workers, regarding 50% of the credit package, equivalent to VND 55,000 billion, is for individual customers who are buyers, rent-purchasers of social housing and worker housing. The Ministry of Construction requested the State Bank and the Ministry of Finance to coordinate to build more details.
The Ministry of Construction proposed to spend regarding 110,000 billion VND credit package for social housing development (Photo: TN)
The Ministry of Construction also said that there are currently many barriers in the mechanism of social housing development, which are creating procedures and costs. Social housing investment enterprises take 1-2 years to complete these procedures.
In particular, most localities have not set aside land funds for social housing development in recent times; Regulations on selecting investors for social housing projects still overlap between laws on investment, bidding, and land. The selling, leasing, or hire-purchase price of social housing does not include valid and reasonable expenses such as expenses for sales organization, business management, and the profit norm of social housing projects does not exceed 10 % failed to attract businesses to participate in social housing.
The Ministry of Construction also said that it is necessary to complete, promulgate and effectively implement the project “Investing in the construction of at least 1 million social housing apartments for low-income people, workers in the industrial park in the middle class.” period 2021 – 2030″ to increase the supply in line with demand, the ability of low-income workers with high demand for affordable housing.
In 2021, the Ministry of Construction also proposed to add to the economic recovery program in the period of 2022 – 2023 a credit package of VND 65,000 billion for social housing and houses for workers. This package includes refinancing credit for the project investor, however, so far, this proposal has not made any further progress.
In addition, the Ministry of Construction also requested the National Assembly to assign the Government to develop and submit to the National Assembly for consideration and promulgation a resolution on piloting a number of policies to promote the development of social housing, such as the policy of land allocation for public housing. investment in social housing projects; reserve land fund for social housing development; method of selecting investors;…
