Low-incomers to be received lower interest rate to buy social house: HCMC

Ho Chi Minh City has just presented its petition to the government for a lower interest of low-incomers’ loan to buy social houses.

Currently, low-incomers including workers in industrial parks and export processing zones and students are enjoying the interest rate of 5 percent a year. The city has proposed to down its rate to 3 percent a year within 15 years, aiming to help low-incomers afford a social house.

In addition, the city authority has also suggested the government setting up a house saving fund to assist those who have demand of repairing old houses or buying new houses.

The city has petitioned to speed up process of disbursement of the government-backed house-buying aid package of VND30 trillion (US$1.42 billion). For instance, the government should allow enterprises to mortgage land use right certificate of the building construction project to borrow loans.

Upon rented houses for workers, the city has added that companies in industrial parks can take preferential interest rate of zero percent. On the other hand, firms will contribute an amount from its profit into the condominium support fund.

For student dormitory, the city has asked related ministries and agencies to continue investing in infrastructure such as traffic roads, electricity lines, water supply and other construction of dinning rooms and libraries.

By Nhung Nguyen – translated by Anh Quan

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