Rental housing is a strategic, long-term segment.

VTV.vn - Prime Minister Le Minh Hung chaired a meeting with leaders of ministries, sectors, and Hanoi city to implement the directives of General Secretary and President To Lam regarding rental housing.

Prime Minister Le Minh Hung chaired a meeting on rental housing in Hanoi . (Photo: VNA)

On the afternoon of May 25th, Prime Minister Le Minh Hung chaired a working session with the Hanoi People's Committee and relevant ministries and agencies on the development of rental housing in the capital city, aiming to urgently implement the conclusions of General Secretary and President To Lam regarding social housing and the orientation for housing development in the coming period.

At the meeting, there was a high degree of consensus on the approach to further institutionalize the Party's guidelines and policies, improve mechanisms and policies, and implement tasks related to the development of rental housing.

Outlining key guiding principles for ministries, sectors, and the City of Hanoi to unify understanding and action, Prime Minister Le Minh Hung emphasized the need for a strong shift in thinking about housing, from primarily developing commercial housing to simultaneously developing both commercial and rental housing. Rental housing is identified as a strategic, long-term segment serving a large number of people, especially workers, laborers, students, officials, civil servants, and members of the armed forces, who have a great need for affordable rental housing. The Prime Minister stressed that the State does not subsidize housing but also does not completely leave it to the market to regulate itself.

The Prime Minister emphasized that the State does not subsidize housing, but also does not completely leave it to the market to regulate itself (Photo: VNA).

Prime Minister Le Minh Hung emphasized: "The State will play a facilitating role through institutions, policies, planning, and financial and credit tools to ensure the market develops in a healthy and transparent manner. There must be mechanisms and policies to mobilize businesses and social resources to participate with reasonable profits and ensure that people have access to stable, long-term, safe, and affordable housing. If people are guaranteed by the State that they have mechanisms to access stable and long-term housing at an affordable cost, we will contribute to resolving the mentality of needing to own a home. However, this must be done step by step, without rushing, but implemented very quickly."

Prime Minister Le Minh Hung also noted that the development of rental housing must be placed within the overall planning framework, mobilizing diverse sources of capital, and resolutely and persistently addressing the issue of abandoned or underutilized public housing assets. Regarding Hanoi, Prime Minister Le Minh Hung requested the city to take the lead in urgently reviewing all land use plans, urban and rural planning; land funds, housing funds, and underutilized public assets to develop a plan for arranging and developing rental housing models; and to report to the Prime Minister in June. If successful, this model will be replicated nationwide.

The Prime Minister instructed the Ministry of Construction to study policies on leasing housing for 15 to 20 years and long-term periods; to focus on amending and supplementing the Housing Law and the Real Estate Business Law; and to coordinate with the Ministry of Finance and other agencies to review and propose mechanisms allowing enterprises and cooperatives to purchase commercial housing and social housing solely for the purpose of leasing, to be completed by June. The Ministry of Finance will provide guidance on financial and tax incentives for long-term rental housing projects, to be completed by July.

Prime Minister Le Minh Hung also requested the State Bank of Vietnam, in July, to take the lead in researching and proposing preferential credit policies from the National Housing Fund for investors in long-term rental housing projects, with a focus on stable interest rates and loan terms that match the project's payback cycle.

Source: https://vtv.vn/nha-o-cho-thue-la-phan-khuc-chien-luoc-dai-han-100260525191558233.htm