Borrowing 25 years with fixed interest
Speaking at the National Online Conference on removing difficulties and obstacles, promoting the development of social housing, Becamex representative said that it is necessary to have the participation of the entire government system and enterprises from the central to local levels.
Vietnam needs to soon build a national housing fund associated with a database on population and income. From there, we have prepared plans for construction and development, avoiding passiveness. How should legal procedures be the simplest with the "one-stop" mechanism?
Another important point is the preferential lending program with a long period of time and fixed interest rates. 100% of countries that are successful in building social housing have a 25-year lending policy with a fixed interest rate. This is very necessary, both for home buyers and for investors.
Another important thing is how we integrate the entire social housing project into the general development plan of the provincial planning, regional planning to establish a public transport system, urban railway.
From there, we reduce traffic volume, form satellite urban areas... We need to solve the problem more comprehensively, avoiding fractured development.
Proposal to expand the social housing segment to 3.4 bedrooms
Chairman of Kim Oanh Group said that in response to the 1 million social housing projects, Kim Oanh Group aims to develop 40,000 units from now until 2028.
From international experience (Japan, Malaysia, Singapore), this chairman proposed a number of recommendations as follows:
Expanding the area and segment of social housing construction to 3-4 bedrooms, suitable for multi-generational families, classified by income.
Build according to demand. Buyers need to register in advance to avoid wasting resources.
Flexible financial support with preferential interest rates (1-2%) for low-income people, policies suitable for each group.
Ensure the quality of sustainable social housing for 2-3 generations, with increasing value.
We also propose that Vietnam can apply the prefabricated concrete house model. This model is fast-built, cost-effective, 50-year-old, and suitable for weak geology.
However, the big challenge is the disbursement of loans. Many of our projects are completed early but the banks are slow to disburse, causing waste and difficulties for both businesses and buyers.
Therefore, I propose to ensure a credit program of VND 120,000 billion and a stable interest rate for 10 years; re-evaluate actual needs; create a mechanism to support land funds, especially in Ho Chi Minh City.
