Interest rates on loans for social housing purchases remain high

Speaking at a conference on resolving difficulties in social housing on the morning of March 16th, Mr. Nguyen Viet Quang, Vice Chairman of Vingroup , said that the group has recently started construction on four social housing projects in Hai Phong, Thanh Hoa, Quang Tri, and Khanh Hoa, comprising approximately 10,000 units.

Mr. Nguyen Viet Quang, Vice Chairman of Vingroup

Vingroup is also undertaking legal procedures to soon commence construction of social housing projects in Hanoi , Hung Yen, Ha Tinh, Ho Chi Minh City, and other provinces and cities.

According to Mr. Quang, the government has implemented many mechanisms and policies to develop social housing in recent years. However, the procedures for implementing social housing projects are more complex and numerous compared to commercial housing projects. The time required to complete the procedures for a social housing project, from the start of implementation to the commencement of construction, is approximately two years.

Besides improving the quality of social housing, the simultaneous construction of technical infrastructure, social infrastructure, and commercial services to serve the people is essential, especially for large-scale social housing projects. However, Vingroup leaders said that the support policies for investing in the construction of these projects are unclear. If investors undertake the simultaneous construction of these projects, it could easily lead to increased costs and higher prices for social housing.

In particular, in reality, access to loan capital remains unfavorable. Preferential interest rates for investment in construction, as well as for renting or purchasing social housing, are currently high. For developers, the interest rate is 8% per year, while for customers purchasing social housing, it is 7.5% per year.

Therefore, the corporation proposes minimizing procedures related to the investment and construction of social housing projects. They also suggest adjusting interest rates on investment capital and considering adjustments to lending interest rates for investment in construction, as well as for purchasing or renting social housing.

Mr. Nguyen Van Thanh Huy, Deputy General Director of Becamex Corporation, which has completed over 45,000 apartments serving as both worker housing and social housing, also assessed that interest rates for workers are still high and loan terms are short.

Source link: https://thanhnien.vn/lai-suat-cho-vay-mua-nha-o-xa-hoi-van-cao-185240316121103859.htm