Increasing housing supply, solving real estate market difficulties

The Ministry of Construction is continuing to urge localities to implement the Project "Investing in the construction of at least 1 million social housing apartments for low-income earners and industrial park workers in the period of 2021-2030". At the same time, it proposes solutions to overcome difficulties, rebalance supply and demand, restructure real estate market products, increase supply, especially social housing supply.

Timely removal of difficulties for the real estate market.

Recently, ministries, branches and localities have made efforts to implement the project to invest in building at least 1 million social housing apartments.

Accordingly, the development and investment in social housing construction have had positive changes, the supply and number of newly started projects have increased compared to previous years. Currently, there are about 503 social housing projects nationwide with a scale of 418,200 units (an increase of 4 projects, 6,950 units compared to March 2024). Of which, 75 projects with 39,884 units have been completed; 128 projects with 115,379 units have been started; 300 projects with 262,937 units have been approved for investment.

Regarding the support capital of 120,000 billion VND according to Resolution No. 33 dated March 11, 2023 of the Government on a number of solutions to remove obstacles and promote the safe, healthy and sustainable development of the real estate market, currently in addition to 4 state-owned commercial banks (BIDV, VietinBank, Agribank , Vietcombank), there are a number of private commercial banks registered to participate. However, the disbursement of this credit package is still slow. To date, commercial banks have disbursed an amount of 1,234 billion VND.

In addition to promoting housing development, especially social housing, in the first months of the year, the Government has strongly directed ministries, branches and localities to specify solutions to solve common difficulties for businesses and remove difficulties for the real estate market.

Accordingly, the transaction volume of apartments, individual houses and land plots increased (the following quarter was higher than the previous quarter and higher than the same period in 2023); the market recorded the return of a series of old projects being restarted, new projects being opened for sale; bank interest rates were adjusted down, investors introduced many policies beneficial to home buyers...

In Vinh Long, according to the Provincial People's Committee, to promote the implementation of the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030", the Provincial People's Council issued Resolution No. 113 dated June 15, 2023 adjusting the housing development program, including updating the assigned targets according to the project.

The Provincial People's Committee issued documents guiding and directing the implementation of social housing investment procedures without using state capital in the area, as a basis for unifying the implementation procedures, contributing to speeding up the implementation of social housing projects, meeting the housing needs of workers and low-income people...

In the first 6 months of 2024, the housing situation and real estate market in the province are basically stable. The situation of spontaneous subdivision and sale of land plots in urban areas has basically not arisen, and there is no more distribution of leaflets and posting of unqualified social housing for sale on social networking sites. The management of state-owned social housing is ensured in accordance with the provisions of the law on housing and other relevant regulations.

The subjects considered for leasing and leasing-purchasing state-owned social housing must ensure the correct subjects and conditions. The management and use of apartment buildings must not cause complaints; fire safety must be ensured... However, the whole province has not implemented new investment projects to build commercial housing, social housing, and worker housing, and there are no projects or apartments that meet the conditions for selling future housing. For ongoing social housing projects, progress has not been ensured.

In the last 6 months of the year, the Department of Construction will focus on implementing the next steps to develop a housing development plan for 2025. In addition, it will draft legal documents to guide some contents stipulated in the Housing Law 2023 and the Real Estate Business Law 2023 to submit to the Provincial People's Committee.

Including the decision to issue regulations on requirements for traffic routes to ensure fire prevention and fighting in places with multi-storey houses and many apartments; the decision to issue regulations on criteria for investment projects to build commercial housing in urban areas of type IV and V must reserve land funds invested in building technical infrastructure systems to build social housing...

According to the Ministry of Construction, the ministry will focus on monitoring the implementation of decrees, decisions, and circulars detailing and guiding the implementation of the 2023 Housing Law and the 2023 Real Estate Business Law after they are issued. In addition, it will complete the plan for the Prime Minister to issue Directive No. 34 dated May 24, 2024 of the Secretariat on Strengthening the Party's leadership over social housing development in the new situation and organizing the implementation of the plan.

Along with that, regularly monitor the real estate market developments, strengthen information forecasting, promptly have solutions to respond when the market has unusual fluctuations. At the same time, propose solutions to remove difficulties, rebalance supply and demand, product structure, increase supply, especially social housing supply, housing for people with average and low incomes.

From March to May 2024, Prime Minister Pham Minh Chinh chaired two meetings to remove difficulties and promote social housing development. At the meeting on May 17, the Prime Minister emphasized that social housing development is a very humane policy of the Party and State. Social housing development also contributes to promoting economic growth; supporting people in difficulty, especially young families, workers in industrial parks and large cities, contributing to relieving social frustration.

Accordingly, it is necessary to diversify resources for social housing development to support both sellers and buyers. Localities must take drastic and active action with specific programs, plans and projects. Procedures and conditions for borrowers to invest in social housing and buyers, renters and hire-purchasers must be simpler.

Article and photos: SONG HAU

Source: https://baovinhlong.vn/kinh-te/202407/tang-nguon-cung-nha-o-go-kho-thi-truong-bat-dong-san-3185641/