Nearly 100,000 social housing apartments must be completed by 2024.

619 social housing projects have been implemented.

According to Deputy Minister of Construction Bui Xuan Dung, the target for social housing construction in 2024, as of July 31st, based on reports from localities from 2021 to the present, is 619 social housing projects implemented nationwide with a scale of 561,816 units; 79 projects have been completed with a scale of 4,679 units; 128 projects have commenced construction with a scale of 111,688 units; and 412 projects have received investment approval with a scale of 409,149 units.

In the first six months of 2024 alone, eight projects were completed, including four fully completed projects and four partially completed projects, comprising 3,136 units; five projects were granted permits for commencement, comprising 8,468 units; and nine projects received investment approval, comprising 8,795 units.

The target for 2024, as outlined in the Government Resolution 01/NQ-CP dated January 5, 2024, is to complete 130,000 social housing units for low-income earners and industrial park workers in the period 2021-2030.

With 8 projects comprising approximately 3,100 apartments completed in the first six months of the year, nearly 100,000 more apartments need to be completed in 2024. The Ministry of Construction has set a target that will largely depend on projects already started and completed within 2024. This presents significant deadline pressure, requiring the involvement of ministries, agencies, and local authorities at all levels.

Regarding the 120 trillion VND credit support package for preferential loans for social housing, as of now, 34 out of 64 provinces and cities have published documents on their electronic portals listing 78 projects eligible for preferential loans. To date, banks have disbursed 1,344 billion VND, including 1,295 billion VND to investors in 12 projects and 49 billion VND to homebuyers in 5 projects.

In implementation of Resolution No. 33/NQ-CP dated March 11, 2023, of the Government, and proposing solutions to remove difficulties and obstacles for investors and buyers of social housing, the interest rate is approximately 1.5-2% lower than the average medium and long-term interest rate of state-owned commercial banks in the market.

Currently, the State Bank of Vietnam is seeking opinions from relevant ministries and agencies on the draft resolution to adjust some contents of the 120,000 billion VND package and Resolution 33/NQ-CP, aiming to reduce lending interest rates for customers by 3-5%, while maintaining the reduction of 1-2% for investors.

The Ministry of Construction has issued a document agreeing with the proposal of the State Bank of Vietnam. At the regular government meeting this morning (August 5th), the Prime Minister expressed his agreement with the State Bank of Vietnam's proposal, requesting that the resolution adjusting the content of the 120,000 billion VND preferential loan package be finalized and submitted for approval soon.

Streamlining administrative procedures for social housing construction.

The Deputy Minister of Construction also outlined several tasks and solutions to be implemented in the near future, such as organizing a national conference to promote the development of social housing in August 2024; requesting the State Bank of Vietnam to direct and encourage commercial banks to participate in providing support loans and expanding credit limits, creating conditions for extending loan terms and reducing interest rates for support...

Local authorities are directed to inspect the investment and construction of social housing to ensure quality, adequate technical and social infrastructure, and essential services. Based on specific conditions, each locality will have specific mechanisms and solutions to shorten administrative procedures, prepare and approve projects, allocate and lease land, clear land, support and encourage businesses to implement projects, create supply for the market, and utilize preferential sources for social housing development.

For major cities, especially Hanoi and Ho Chi Minh City, it is necessary to enhance responsibility in leadership and guidance, attracting investment to accelerate the construction and development of social housing, ensuring the objectives of the assigned projects are met.

Source: https://kinhtedothi.vn/con-gan-100-000-can-ho-nha-o-xa-hoi-phai-hoan-thanh-trong-nam-2024.html