HOREA reports no new case of social housing loan

SGGP
After the housing credit package worth VND30 trillion (US$1.32 billion) ended last year, there has been no new case getting social housing loan according to Housing Law 2014 so far.

Apartment blocks for middle income people in District 7, HCMC (Photo: SGGP)

Apartment blocks for middle income people in District 7, HCMC (Photo: SGGP)

That is quoted from a report which chairman of HCMC Real Estate Association (HOREA) Le Hoang Chau has recently sent to authorized agencies.

According to a decision signed by the Prime Minister, social housing buyers will continue enjoying the preferential interest rate of 4.8 percent a year after the package ended last year. 

However, the extension has not been materialized for new cases partly because the Government has yet arranged budget funds for four banks Vietcombank, Vietinbank, Agribank and BIDV to carry out the policy. So far, only VND1.5 trillion has been allocated for the Vietnam Bank for Social Policies to loan social housing buyers.

HOREA has proposed the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction to soon submit to the Government and the National Assembly’s Standing Committee a budget capital arrangement plan to implement the social housing policy.



By LUONG THIEN – Translated by Hai Mien

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