(CLO) Recently, the Ho Chi Minh City Real Estate Association (HoREA) sent a document to the Prime Minister and the Ministry of Construction outlining several proposals related to the healthy and sustainable development of the real estate market.
In this document, HoREA proposes that the State Bank of Vietnam consider developing a mechanism that allows young people, aged 18 to 45, to obtain loans at reasonable commercial interest rates to purchase their first home.
HoREA proposes a reasonable interest rate of around 6-7% per year, with the loan secured by the house itself, for a term of 10-15 years. HoREA believes this proposal will create a "boost," encouraging businesses to restructure existing real estate projects and shift investment towards affordable commercial housing and social housing.
HoREA proposes allowing people over 18 to borrow from banks at 'preferential' interest rates to buy houses. (Photo: ST)
"HoREA observes that the majority of young people are ambitious and have a long life ahead of them to do business and repay debts. Typically, after about 10-15 years, their income will double or more than double, so there is almost no risk for commercial banks lending to them," HoREA stated.
In addition, the Association also requested the Ministry of Natural Resources and Environment to urgently submit to the Government for consideration and approval the Draft Decree detailing the implementation of the National Assembly 's Resolution on piloting the implementation of commercial housing projects through agreements on land use rights or existing land use rights.
In this regard, the Association proposes that the Ministry of Natural Resources and Environment consider adding a regulation: In cases where land designated for national defense or security purposes is removed from the national defense or security land plan for pilot projects, the Ministry of National Defense and the Ministry of Public Security may designate military or police enterprises (if any) or enterprises from other economic sectors with sufficient real estate business qualifications as the investor to implement housing projects for the people's armed forces.
"Adding this regulation will be in line with the specific conditions of the people's armed forces. This is because the Ministry of National Defense has real estate businesses, but the Ministry of Public Security does not have any real estate businesses under its control. A typical example is the case of Phu Cuong Investment Joint Stock Company, which was selected by the Ministry of Public Security as the investor for the Ministry of Public Security's apartment project and the Ho Chi Minh City Police Officers' apartment project," HoREA stated.
Source: https://www.congluan.vn/horea-de-nghi-cho-phep-nguoi-tren-18-tuoi-vay-ngan-hang-voi-lai-suat-uu-dai-de-mua-nha-post333963.html
Comment (0)