The Ministry of Construction has agreed with the State Bank of Vietnam (SBV)’s proposal to offer preferential lending rates for homebuyers who borrow from the 120 trillion VND (4.72 billion USD) social housing credit package, at 3-5 percentage points lower than the average.

Vietnam’s real estate market will likely remain stagnant this year, unlike in 2017 when price increases were rampant in popular spots around the country, predicted deputy head of the Department of Housing and Real Estate Management Nguyen Manh Khoi.

It is necessary for housing developers, contractors, banks and State agencies to cooperate in disclosing information about real estate projects to avoid panicking buyers, experts have said.

The legal status and progress of properties will be made available to the public in order to reduce the risks for home buyers, according to an HCM City official.