The State Bank of Viet Nam (SBV) will keep the interest rate of the VND30 trillion (US$1.32 billion) preferential credit package for low-income homebuyers at 5 per cent in 2017.
Homebuyers are worried about a possible hike in interest rates with the terms of the government&rsquos VNĐ30 trillion (US$1.3 billion) property support package ending on June 1 this year.
Homebuyers will soon get protection for their money and rights as a
regulation making bank guarantees mandatory for future property
purchases will come into effect next week.
The National Citizen Bank has reserved preferential loans worth US$33.33 million to support homebuyers across 16 projects in HCM City, in collaboration with three property firms.
The Ministry of Construction said it was drafting regulations that would require housing developers to take out insurance for homebuyers to protect customer interests, but some experts said this might be unpractical in the current context.