Construction Minister Trinh Dinh Dung has confirmed that the creditpackage worth 30 trillion VND designed to support social housing isbeing used appropriately and in line with Government Resolution No. 02.
Minister Dung told the media that easingdifficulties for the property sector and developing social housing areclosely related tasks.
He noted an important pointin Resolution No 02 that the Government requires the combination ofsolving of difficulties faced by the property sector and theimplementation of the national strategy on housing development, whosepurpose is to provide housing for all people, especially the poor andpeople in difficulty aforementioned strategy.
Itmeans that new homes must reach people and be affordable, the ministersaid, adding that the property market is currently oversupplied withhigh-end products, while reasonably-priced products are lacking. Thisimbalance should be solved promptly.
The ministersaid a number of developers have asked for permission to turn theircommercial housing projects into social housing, which according to himis a good thing as it meets several targets at the same time. Theproperty stock will reduce while more affordable products will becomeavailable to those in need.
According toMinister Dung, the 30 trillion VND package plus a land-use tax level ofzero percent and a reduction in VAT are an economic stimulus package.Not only poor homebuyers will benefit from the support package, but allothers will gain from the credit disbursement as it puts economicdevelopment back on track, he noted.
Regardingworries that businesses may become the key beneficiaries of the creditpackage, the minister said the more businesses that take part inbuilding social housing, the better it is for the effort to providehousing for poor people. Businesses should be encouraged to join theeffort, he stressed.
The quota for businesses is fixed, and will not exceed 30 percent of the package, he added.
Explaining why only a small number of people have accessed the creditpackage so far, Minister Dung said as this is medium-term credit, onlywhen social housing projects are completed, can customers borrow moneyto buy. At present, there are just several commercial housing projectsthat meet criteria on price (below 15 million VND per square metre) andfloor space (below 70 square metres). Therefore, the disbursement of thecredit package cannot be done immediately, he added.
“The package aims to help eligible customers who are in need ofhousing. If we disburse credit carelessly, the target will not bereached. Besides, banks, which are responsible for the package, have toclosely manage the credit.”
According to theminister, the 30-trillion VND credit package is the first of its kindaimed to implement the policy on social housing, so it draws dueattention and care from the Party and State. The minister affirmed thatthe Ministry of Construction will try its best to ensure the helpreaches the target group.-VNA
Minister Dung told the media that easingdifficulties for the property sector and developing social housing areclosely related tasks.
He noted an important pointin Resolution No 02 that the Government requires the combination ofsolving of difficulties faced by the property sector and theimplementation of the national strategy on housing development, whosepurpose is to provide housing for all people, especially the poor andpeople in difficulty aforementioned strategy.
Itmeans that new homes must reach people and be affordable, the ministersaid, adding that the property market is currently oversupplied withhigh-end products, while reasonably-priced products are lacking. Thisimbalance should be solved promptly.
The ministersaid a number of developers have asked for permission to turn theircommercial housing projects into social housing, which according to himis a good thing as it meets several targets at the same time. Theproperty stock will reduce while more affordable products will becomeavailable to those in need.
According toMinister Dung, the 30 trillion VND package plus a land-use tax level ofzero percent and a reduction in VAT are an economic stimulus package.Not only poor homebuyers will benefit from the support package, but allothers will gain from the credit disbursement as it puts economicdevelopment back on track, he noted.
Regardingworries that businesses may become the key beneficiaries of the creditpackage, the minister said the more businesses that take part inbuilding social housing, the better it is for the effort to providehousing for poor people. Businesses should be encouraged to join theeffort, he stressed.
The quota for businesses is fixed, and will not exceed 30 percent of the package, he added.
Explaining why only a small number of people have accessed the creditpackage so far, Minister Dung said as this is medium-term credit, onlywhen social housing projects are completed, can customers borrow moneyto buy. At present, there are just several commercial housing projectsthat meet criteria on price (below 15 million VND per square metre) andfloor space (below 70 square metres). Therefore, the disbursement of thecredit package cannot be done immediately, he added.
“The package aims to help eligible customers who are in need ofhousing. If we disburse credit carelessly, the target will not bereached. Besides, banks, which are responsible for the package, have toclosely manage the credit.”
According to theminister, the 30-trillion VND credit package is the first of its kindaimed to implement the policy on social housing, so it draws dueattention and care from the Party and State. The minister affirmed thatthe Ministry of Construction will try its best to ensure the helpreaches the target group.-VNA
