The Ministry of Construction submitted a dossier to appraise the Decree amending and supplementing a number of articles of Decree No. 100/2024/ND-CP dated July 26, 2024 of the Government detailing a number of articles of the Housing Law on the development and management of social housing.
One of the notable points in the draft is the regulation amending and supplementing Clause 4, Article 48 as follows:
The lending interest rate is 5.4%/year. The overdue debt interest rate is equal to 130% of the lending interest rate.
In case it is necessary to change the lending interest rate, assign the Social Policy Bank to preside over and coordinate with the Ministry of Construction and relevant units to submit to the Prime Minister for consideration and decision".
Explaining this issue, the Ministry of Construction said that currently, the interest rate for social housing loans according to Decree No. 100/2024/ND-CP is at an interest rate of 6.6%/year (equal to the lending interest rate for poor households prescribed by the Prime Minister in each period).
This interest rate is currently higher than the lending interest rate applied to subjects under other programs.
Implementing the direction of Prime Minister Pham Minh Chinh at the Conference to review the implementation of social housing development targets for the first 7 months of 2025 and the implementation plan for the last 5 months of 2025, the Ministry of Construction proposed to stipulate as follows: lending interest rate is 5.4%/year. The overdue debt interest rate is equal to 130% of the lending interest rate.
"The amendment and supplementation of a number of articles of Decree No. 100/2024/ND-CP is necessary, promptly overcoming some difficulties and problems arising in practice as well as ensuring synchronous consistency with relevant laws as well as promoting the supply of social housing in conjunction with the implementation of the Project to Invest in the construction of at least 01 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030, while contributing to removing difficulties for the real estate market, helping the market develop more stably and healthily, while ensuring the effective time of the Housing Law in accordance with the provisions of the Law on Promulgation of Legal Documents", the Ministry of Construction emphasized.
