Based on the new policy from Decree 100, there will be more openness in the regulations on allocating 20% land fund for social housing construction, not necessarily within the project scope but possibly outside the project scope. In particular, the Government decentralizes power to the Provincial People's Committee to proactively decide, reducing one level will save a lot of time and costs for investors.
A very meaningful administrative reform step is to not have to appraise the selling price of social housing at the sales step if the business proposes a selling price when participating in the bidding. This regulation will focus on building projects at the most reasonable prices, benefiting not only businesses but also home buyers and renters.
Enterprises investing in social housing projects are contributing to the community. However, to do business, they must have profits to pay wages to workers and accumulate. Therefore, the incentive of 20% of the area for commercial business or commercial housing for investors is a motivation for businesses to participate in the project.
When businesses make convenient products, people also have convenient access to products. To achieve that goal, administrative procedures must be simplified, and the new regulations have removed many barriers. That is removing the condition that the buyer must have permanent or temporary residence in the province or city where the project is located. Or previously, people with income over 11 million VND/month were not allowed to buy social housing, but now it has increased to 15 million VND/person/month. The expansion is only 4 million VND, but it is an opportunity for many people to access social housing.
The income confirmation procedure is also very simple, it only needs to be confirmed by the enterprise where the employee works or by the commune-level People's Committee if buying or renting a social house without a labor contract. Where do freelance workers get a legal entity to confirm their income? The only thing left is the government. Just don't make things difficult for the people.
Harmonizing the interests between the State, investors and people will create social housing and new products for life.
