Currently, we have many low-interest loan packages for social housing (such as the previous 30,000 billion VND package, the 120,000 billion VND package being implemented...) to help people buy houses.
However, most of these packages are not long-term, when the budget is low or interest rates fluctuate, the program is at risk of stopping. As a result, many businesses and people are in a state of uncertainty, with unfinished projects.
To solve the problem at its root, a stable and long-term financial mechanism is needed. And the National Housing Fund is expected to play the role of a " stepping stone" that can regularly pump capital into the social housing ecosystem.
In reality, the State budget is unlikely to "carry" the entire cost of building millions of social housing units. Therefore, the fund cannot only rely on public finance sources, but must encourage the private sector, financial institutions, and foreign investment funds to participate, such as successful experience in Korea, China or Singapore.
For social housing projects, the problem is not only supporting buyers (low interest rates), but also creating conditions for investors to access cheap capital to build at reasonable costs, ensuring quality.
If the National Housing Fund is designed well, both sides will benefit: Enterprises can confidently implement projects, people can settle in apartments with suitable prices and basic infrastructure.
However, for this fund to operate effectively, a mechanism is needed to monitor project quality. Avoid pouring capital into substandard projects, making social housing temporary housing, causing long-term consequences.
All procedures from loan approval, disbursement to project progress inspection must be public, limiting the mechanism of asking for and giving, and profiteering. At the same time, people who borrow money should also meet clear criteria (income, career priority...) to ensure fairness.
When designed as a sustainable financial pillar, the National Housing Fund is no longer a local "rescue plan", but becomes an important social security policy of the Government.
Each year, the fund can support tens of thousands of social housing units, helping low-income people gradually access home ownership opportunities. Businesses are also confident in exploiting the affordable housing segment in the long term.
On the real estate market side, reducing the risk of "supply - demand imbalance" will create stability, contributing to sustainable growth.
The target of 1 million social housing units by 2030 will be much more feasible if the National Housing Fund is soon formed and operated in the right direction.
