There are many housing products on the market, but most of them are beyond the reach of low-income groups, poor workers, cadres, civil servants, and public employees who do not have stable housing. High-end houses, from a few tens of millions to a few hundred million VND/square meter, are too luxurious for the majority of people.
Even for young people with stable jobs, but the ability to buy a house is not high because of a lack of products suitable for their ability to accumulate, this group also needs support from preferential loan sources.
At the Government conference with localities on economic growth held on February 21, Politburo member and Prime Minister Pham Minh Chinh directed the strive to reduce lending interest rates; establish a credit package to support young people (under 35 years old) to buy a house; strongly promote social housing credit. This is the way to support many young families to have a house and stabilize their lives.
Wanting low-income and disadvantaged groups in society to buy a house, many experts agree with General Secretary To Lam on studying the establishment of a "National Housing Fund" to develop affordable housing in large cities. The fund was established not for profit, so all groups accessing capital are entitled to preferential policies.
The National Housing Fund not only supports with low interest rates, but also ensures long-term interest rate stability for borrowers. If borrowing from other credit sources, people and businesses will be under pressure to increase interest rates suddenly, causing financial loss, leading to inability to pay interest and other risks.
There is another big big problem ahead, which is the target of 1 million social housing units by 2030. To have enough housing and products to reach low-income people, it is necessary to have many policies to promote product development as well as consumption resources.
Currently, many localities are facing a situation of backlog of commercial housing and social housing projects due to legal problems and capital sources. When there is a National Housing Fund and transparent regulations on procedures for accessing capital, projects will be opened for exploitation, limiting waste for society.
