Prime Minister Pham Minh Chinh, when chairing a Government conference with localities on economic growth on February 21, issued a very notable directive related to housing for young people.
The Prime Minister requested the State Bank to promote credit growth, focus on priority areas, growth drivers; 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 not the first time the head of the Government has mentioned this issue.
Previously, on February 11, when chairing the Government Standing Committee meeting working with commercial banks, Prime Minister Pham Minh Chinh also made a similar request.
The two instructions emphasizing this theme in a short time show that the head of the Government is very interested and strongly directs solutions to increase access to housing for middle-income workers, especially young people who have only worked for more than 10 years.
This is a group that has not accumulated much, and has not stable enough income to deposit or borrow to buy a house at high interest rates.
Recently, although the Government and ministries and branches have issued many policies to encourage the development of social housing and housing for workers, many young people are still struggling to access it.
Part of the reason is the high real estate prices, even social housing projects are not really cheap compared to the income level. On the other hand, preferential credit packages are still limited, procedures are complicated, and interest rates are not low enough for workers to dare to borrow long-term.
Therefore, when the Prime Minister asked banks to "strive to reduce lending interest rates" and establish preferential credit packages, it opened up great hope for housing, not only for young people but also for many other vulnerable groups.
That is expected, however, the specific problem requires great efforts from the State Bank and commercial banks, from having to " Sacrifice a portion of the profit" to publicity, transparency, and streamlining of lending approval procedures.
Young people under 35 years old are the main workforce, contributing greatly to socio-economic development. Supporting them to settle down is also an investment for the future, creating a solid foundation both economically and socially.
Therefore, the Prime Minister's consistent direction on preferential credit packages for young people to buy houses has been continuously of public interest and waiting.
Hopefully, as soon as possible, we will see policies concretized into low interest rate loan packages and transparent procedures, so that the "dream of settling down" of young people is no longer too far away.
