Ms. Nguyen Thi Minh Tam (30 years old) - owner of an ao dai rental shop in Nam Tu Liem district, Hanoi - commented that with the current financial situation, it will take a long time for her to be able to buy a 35m2 house in the capital.
Previously, Ms. Tam used to work as an office worker, earning 13 million VND/month, but now when opening a store, her income is only 15 - 20 million VND/month. Ms. Tam said that the total income of the couple is about 30 - 35 million VND/month.
Ms. Tam calculated that she had to save at least 15 years to buy a 35m2 house.
Having spent 2 months surveying the price of houses and land in deep alleys in the inner city, Ms. Tam said that the average price ranges from 120 to 140 million VND/m2 depending on the area. Apartment prices have increased skyrocketing for more than a year to 60 million VND/m2.
Ms. Tam believes that if young people want to own a house soon, there is no other way than to borrow from the bank, even borrow long-term for more than 15 years.
Because if we continue to save every year, we will not be able to keep up with the increase in housing prices. However, with the plan to borrow from the bank, Ms. Tam still has many worries.
"Although current interest rates have decreased, they are still high compared to our ability to pay. In addition, when borrowing for a long term, interest rates will increase because banks calculate floating interest rates according to the market" - Ms. Tam said.
Regarding the recommendation when borrowing capital to buy a house, Ms. Tam hopes that the State will have instructions for banks to provide preferential loans with interest rates below 6%. At the same time, interest rates must be fixed for a long time so that workers can feel secure in borrowing long-term capital.
In addition, Ms. Tam also recommended that the State increase the number of social housing projects. At the same time, reduce conditions, simplify procedures, and reasonable selling prices when buying social housing.
Although his parents gave him land to build a house in his hometown of Nam Dinh, Mr. Nguyen Van Giang (31 years old) - working in Dong Anh district, Hanoi - shared that he was very afraid of living together. He also did not want to sell the land left by his ancestors even though his name was on the red book.
The male worker's previous plan was to buy a piece of land near his workplace. However, after many years of working, Mr. Giang said that the accumulated money was only enough to buy land in the countryside, saving for a few more years before daring to build a house.
"Land prices in rural areas are now increasing rapidly. The crowded village road area costs from 10 to 15 million VND/m2. To buy land and have more money to build a house, I will prioritize the auctioned plots. However, this plan also faces many barriers" - Mr. Giang said.
Because land in the locality is rarely auctioned, sometimes only auctioned once a year while demand is quite high, the price is also pushed up almost to market price.
The male worker suggested that it is necessary to create more favorable conditions for communes when proposing to auction land for people to build houses. At the same time, control that the auctioned person must have a household registration in the district where they live to register.
Explaining this issue, Mr. Giang said that at auctions, there are many people in other provinces, even very far away from buying land to speculate, causing the supply to be many times lower than demand, leading to the auction price being pushed up very high.
Mr. Giang also proposed to increase the regional minimum wage in 2025 to increase the income of workers, easily accumulate finance to buy land, build houses as well as repay loans later and smoothly.
