Many problems in project implementation
The Vietnam Association of Realtors (VARS) stated that the new legal framework, especially the 2023 Housing Law, has added more hope to the development of the social housing segment. However, in reality, the investment process for social housing development still faces many difficulties and concerns.
Regarding land, this is considered one of the biggest obstacles for businesses when deciding to build social housing. Although there are regulations on localities needing to proactively arrange land funds to develop social housing. However, in reality, most businesses have to swim on their own. The fact that businesses have to " monopolize" site clearance causes many difficulties.
To solve this bottleneck, there needs to be a completely innovative thinking related to the role and parallelism of the State and businesses. Accordingly, the State needs to play the role of "dominating", implementing land recovery and assigning enterprises to implement projects. The enterprise will be responsible for the finances to ensure financial obligations.
In addition, regarding the procedure, VARS believes that if determining social housing as a "priority", it is necessary to ensure and thoroughly implement it. Accordingly, all issues related to investment in social housing development need to be given more priority. Only then will businesses be interested in this segment, thereby, the supply of this segment will have the opportunity to improve significantly.
The Vietnam Real Estate Brokers Association said that although there is a preferential credit package for investors implementing projects and people borrowing to buy social housing. However, up to now, the disbursement result of this credit package is still very low, less than 2%. The reason is said to be that the approval procedures are still difficult, at many levels. For investors, it is necessary to complete site clearance to get a loan, which is also a limitation.
As VARS has recommended over the past time, to realize the social housing project, it is necessary to have sufficient capital with more open regulations and support from the State. Learning about and guiding other capital sources is also extremely important to support businesses, especially at a time when real estate businesses are facing difficulties in capital sources.
Need to expand beneficiaries and improve the quality of social housing
The Vietnam Real Estate Brokers Association said that expanding the group of beneficiaries of social housing policies, raising the maximum income to 15 million VND/person/month, removing regulations on household registration... has contributed to making it easier for people who want to access this segment to enjoy social housing policies and above.
However, there are some notes that there is still a need to be an open direction, so that the opportunity to own social housing is truly "open" for suitable groups of people. Accordingly, only general regulations are issued, not additional separate regulations for each group of subjects for each project. Social housing for workers should not be regulated. This causes difficulties for both investors and people when they want to access. For investors in industrial park projects, it is necessary to arrange land funds to develop housing areas for workers to rent.
The issue of the quality and selling price of social housing is an issue of concern. Many people are still hesitant, social housing is cheap housing for low-income people. Therefore, the quality of social housing will also be low and the convenience will be poor. To be able to change this concept of social housing, it is necessary to introduce general standards for social housing projects, ensuring the quality of social housing projects.
VARS believes that, with the strong spirit of the Prime Minister and ministries, social housing will certainly have many bright spots in the near future.
