Tuesday, November 5, 2024 2:21:04 AM - Markets closed
VN-INDEX 1,244.71 -10.18/-0.81%
HNX-INDEX 224.45 -0.96/-0.43%
UPCOM-INDEX 91.61 -0.35/-0.38%
Lending rate for social housing buyers proposed to be 3-5 percentage points lower
vietnamnews - 8/7/2024 8:10:45 AM
 (0 ratings. You must sign in to rate.)
The Ministry of Construction has agreed with the State Bank of Vietnam’s proposal to offer preferential lending rates for homebuyers who borrow from the VNĐ120 trillion social housing credit package.
 
 
A social housing project in Đồng Văn Industrial Park, Hà Nam Province. — VNA/VNS Photo Tuấn Anh
 
 The Ministry of Construction has agreed with the State Bank of Vietnam’s proposal to offer preferential lending rates for homebuyers who borrow from the VNĐ120 trillion (US$4.72 billion) social housing credit package, at 3-5 percentage points lower than the average.
 
This aim is to create conditions for homebuyers to access the preferential loans in the context that the disbursement of the VNĐ120 trillion package remained stagnant, the construction ministry said at the Government’s monthly meeting on Monday.
 
To date, only a modest sum of VNĐ49 billion from the package has been disbursed to home buyers.
 
The State Bank of Vietnam is drawing comments from ministries and agencies on the proposals of amendments to the VNĐ120 trillion credit package for social housing development.
 
Accordingly, the lending rate for homebuyers has been suggested at 3-5 percentage points lower than the average of the Big4 (BIDV, Vietinbank, Vietcombank and Agribank), while the rate for developers could be kept the same at 1.5-2 percentage points lower.
 
To date, 34 out of 63 provinces and cities announced 78 projects which are eligible for borrowing from the package.
 
Banks have disbursed a total of over VNĐ1.34 trillion from the funding package, including nearly VNĐ1.3 trillion for developers of 12 projects and VNĐ49 billion for buyers at five projects. — VNS
 
Read original article here
Newer News
04/11 High real estate credit growth raises concern
31/10 HCM City adjusts land prices to reflect market value
19/10 Construction ministry raises solutions to stabilise housing prices
17/10 Experts say developing a legal framework for joint real estate investment in Vietnam will be difficult
16/10 Increasing enforcement of laws critical to tackling real estate market bottlenecks
15/10 Property sector remains vulnerable to money laundering: SBV
08/10 Gov’t set to implement state-funded $1.2b credit package for social housing
08/10 HCM City affordable housing supply unable to meet huge demand
04/10 Tax imposition, credit tightening can’t help stop real estate speculation
27/09 Ministry of Construction proposes solutions to reduce housing prices
Older News
06/08 New foreign ownership restrictions in Vietnamese property market
05/08 New laws aim to resolve property market's issues
03/08 Foreign investment in property sector in seven months surges 78%
31/07 Low-income individuals earning under VNĐ15 million per month prioritised for social housing
25/07 Social housing credit package to be made more preferential to increase disbursement
25/07 Land Law 2024 set to revolutionise agricultural real estate market
23/07 Real estate firms aggressively restructuring bond debt
18/07 Land Law to create investment waves in various sectors: Experts
16/07 New legal framework to create advantages for foreign real estate investors
12/07 Villas in Hanoi see price increases, although the real estate market is still slow
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,244.71 -10.18/-0.81%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.