Social housing buyers are about to get loans?

The 2,000 billion VND package to support social housing development has just been approved by the National Assembly. The Ministry of Construction has requested the Vietnam Bank for Social Policies to promptly receive capital and implement lending this year.

Deputy Minister of Construction Le Quang Hung said that the Ministry is requesting the Vietnam Bank for Social Policies to urgently receive capital to support social housing and immediately deploy lending this year.

According to Mr. Hung, in the second quarter of 2017, the country completed the construction of 184 social housing projects, with a scale of 72,000 apartments. Localities are continuing to implement 195 projects, with a scale of 165,000 apartments.

The conversion of some student housing projects into social housing is being implemented to avoid waste.

According to the Ministry of Construction, the imbalance between supply and demand in real estate is still occurring in some segments. In particular, the supply of social housing and low-cost commercial housing is much less than the demand. The implementation of some programs to support the development of social housing is still slower than planned.

Currently, the Ministry of Construction is coordinating with ministries, branches and localities to remove difficulties in allocating budget capital to implement key social housing programs. In particular, focusing on removing administrative procedures, supporting businesses to borrow capital to encourage and mobilize resources for social housing development.

Regarding the VND2,000 billion package to support social housing development recently approved by the National Assembly, the Ministry of Construction requested the Vietnam Bank for Social Policies to promptly receive capital and immediately implement lending this year.

Localities review housing projects invested from the State budget, including student housing projects, to convert them into social housing projects in the form of socialization.

Deputy Minister of Construction Le Quang Hung said that not using all the student housing areas that have been built would be a waste. Therefore, localities have proposed and the Ministry of Construction has agreed on the policy of converting some projects to social housing.

According to Tien Phong Newspaper