National Housing Fund: Increasing housing opportunities for people

The Government has assigned the Ministry of Construction as the governing body to coordinate with relevant ministries and branches to develop the content of the Draft Decree on the National Housing Fund. It is expected that the Government will issue the Decree this October. According to the Ministry of Construction, when the Decree is issued by the Government, the market will have another type of housing, thereby increasing supply and creating more housing opportunities for people in need of support.

According to the Ministry of Construction, there are currently the following types of housing on the market: Commercial housing, public housing, social housing, and resettlement housing. When the Government passes the Decree on the National Housing Fund, there will be another type of housing for rent. 100% of housing products in the fund will operate in the form of rental. Renting is to ensure the goal of both saving the budget and housing will go to the right subjects in need of support.

Ms. Tong Thi Hanh - Director of the Department of Housing and Real Estate Market Management, Ministry of Construction assessed: "If we continue to invest in building houses for sale, Vietnam's land resources will be very limited. Use a rental housing fund for those who really have housing difficulties and when people have the conditions, they can go out to buy commercial housing. That housing is for other low-income people to live in."

According to Ms. Hanh, the National Housing Fund will be divided into two types: the Central Fund and the Local Fund. The Central Fund will initially have about 5,000 billion VND from the budget, equivalent to about 5,000 houses. After 3 years, it will increase to about 10,000 houses.

"We will also mobilize voluntary contributions and support from relevant organizations and individuals. Organizations, including real estate businesses, that want to support the fund will also increase the number of houses. As for the local housing fund, it will be left to the local authorities to review and balance," said Ms. Tong Thi Hanh.

According to experts, a flexible operating mechanism is needed to have clean land funds to serve the National Housing Fund. At the same time, there must be a clear separation between the Central and Local Housing Funds to avoid duplication, otherwise it will easily lead to a situation where subjects can enjoy both funds, or not enjoy any fund, due to changes in administrative locations during the working process.

Source: https://vtv.vn/quy-nha-o-quoc-gia-tang-co-hoi-nha-o-cho-nguoi-dan-100251021104803279.htm