Social housing Tin tức

Real estate attracted 1.94 billion USD in foreign direct investment (FDI) in the first nine months of this year, accounting for about 9.6% of total FDI to Vietnam in the period.

Property market specialists advocated lowering interest rates on loans for investing in or purchasing social housing items to 4.5-6% per year, down from the current 8.2-8.7%.

Credit institutions are ready to provide loans with preferential rates from the VND120 trillion (US$5.07 billion) package.

Vietnam’s real estate market needs to focus on developing properties that create "real values" such as industrial and commercial real estate, affordable housing, and social housing.

Deputy PM has asked MoC, SBV, the Office of the Government to take measures to accelerate the implementation of a credit package worth VND120 trillion for the development of social housing projects.

The preferential lending interest rate for social housing purchase and lease purchase, new construction and house repair will be 4.8% per year from May 10, 2023 to December 31, 2024.

Despite various tax and loan benefits, developers say returns from building social housing are too low while procedures are tortuous.