HoREA proposes 4.8%/year interest rate to buy social housing

(NLDO) - HoREA found that the loan interest rate regulation of 5.4%/year is still quite high, so it proposed the rate of 4.8%/year, which has been applied.

Ho Chi Minh City Real Estate Association (HoREA) welcomes the Ministry of Construction 's recent completion of the draft Decree amending and supplementing a number of articles of Decree No. 100/2024 on the development and management of social housing and Decree No. 192/2025/ND-CP detailing a number of articles and measures to implement Resolution No. 201/2025/QH15 of the National Assembly on a pilot scheme on a number of specific mechanisms and policies for the development of social housing (draft decree).

Ly Thuong Kiet social housing project (Dien Hong ward) with a scale of 1,254 apartments.

In particular, the draft decree focuses on clarifying the income conditions for people when participating in buying or leasing social housing. According to the proposal, the income ceiling for consideration to buy or lease social housing will be raised to 20 million VND/month for individuals, 40 million VND/month for couples and 30 million VND/month for single individuals who are raising children under the age of majority.

In addition, the interest rate for loans to buy or hire-purchase social housing is regulated at 5.4%/year. In case it is necessary to change the loan interest rate, relevant agencies must report and submit it to the Prime Minister for consideration and decision.

However, HoREA finds that the draft decree still has some unreasonable contents, so it would like to receive comments.

In particular, HoREA found that the regulation "loan interest rate of 5.4%/year" is still quite high, so it proposed to continue implementing the preferential loan interest rate policy of 4.8%/year to buy and hire-purchase social housing as the Prime Minister has annually decided on the preferential loan interest rate of 4.8%/year in the period from 2021 to July 2024.

In case it is necessary to change the loan interest rate, relevant units shall submit to the Prime Minister for consideration and decision to create a flexible mechanism to regulate preferential loan interest rate policies for purchasing or leasing social housing depending on the resources of the state budget in each fiscal year.

In addition, HoREA also proposed to add the case of commercial housing construction investment projects with a scale of 2 hectares or more, in which the project investor must fulfill the obligation to reserve a part of the project area for social housing construction before this Decree takes effect, but by the time this Decree takes effect, social housing has not been built on this land.

Accordingly, the provincial People's Committee is allowed to allow investors to fulfill social housing obligations in the form of payment in cash and calculate, collect and pay according to the provisions of this Decree to handle the transition for commercial housing projects with a land use scale of 2 hectares or more.

Another important content is the regulation on individual social housing buyers who can resell the house after 5 years. HoREA proposed that they only have to pay back 20% of the land use fee according to the provisions of the law on land.

Currently, Decree 100/2024 stipulates that the seller must pay 50% of the land use fee. The Association finds that the payment of 50% of the land use fee is too high.

In the long term, HoREA proposes that the seller does not have to pay land use fees according to the provisions of the land law, so that beneficiaries of social housing policies can enjoy the policy of exemption from land use fees once in their life.

Source: https://nld.com.vn/horea-de-xuat-lai-vay-48-nam-de-mua-nha-o-xa-hoi-196251011112225842.htm