The deadline for social housing developers who signed borrowing
contracts before March 31, 2016 to get cheap loans from the VND30
trillion stimulus package will not be extended to December 31 this year
as they wished. However, capital disbursement for low-income buyers
still continues.
Low-income buyers will be allowed to mortgage their new houses or
apartments to access loans from the VND30 trillion (US$1.3 billion)
housing stimulus package.
Buyers of low-income houses will soon be able to raise mortgages on
their new properties, even when they are not built, according to the
Ministry of Construction.
Commercially built apartments have become more popular with low-income
buyers than social housing, as prices of the former have ped
substantially in recent years, according to real estate experts.
