If this proposal is accepted by HCM City, it will increase the supply of social housing on the market and reduce the cost of social housing due to compensation and site clearance.
According to the HCM City Real Estate Association (HoREA)''s report sent to the VCCI, this concern is about high-interest rates of preferential loans under this credit package for social housing buyers and renters.
The HCM City Real Estate Association (HoREA) has proposed allowing private housing buyers to access a credit package of VNĐ120 trillion (US$4.87 billion) to promote real estate consumption growth.
According to HoREA, the pilot resolution has d conditions for credit institutions to effectively manage bad debts since 2017, especially collateral assets of real estate projects, but it expired on December 31, 2023.
The market has a long way to go before a full recovery. Major issues faced by developers include a decrease in customer trust, imbalance among market segments, restricted cash flow and a lack of sufficient methods to raise capital.
Article 3 of Decree No.08 stipulates that three specific articles in Decree No.65, one regulating professional securities investors, one regulating time intervals between bond issues, and one regulating bond issuers credit ratings, will no longer be in effect as of December 31, 2023.
According to a survey from the Vietnam Real Estate Association (VNREA), investors and buyers of social housing projects must take loans with high interest rates. These interest rates have made it difficult for investors and buyers.
The HCM City Real Estate Association (HoREA) has proposed commercial banks lend to real estate firms so they can fund maturing bond obligations amid ongoing market turbulence.
The Housing Law amendment draft''s articles 25 and 26 no longer feature contentious concepts like a definite term for apartment ownership or the extension of the term of apartment ownership as in previous drafts.
Experts have warned that the high rate of inflation will cause the domestic housing market to continuously see prices increase, but liquidity decrease.
It is necessary to diversify capital sources for the real estate market to reduce dependence on banking credit while the credit flow should be directed to target segments to ensure healthy market development.
CBRE has recently been named in the Top 10 Best Real Estate Service Providers of 2021 by Viet Nam Real Estate E-Magazine (Reatimes) and Viet Nam Institute of Real Estate Research (VIRES).
Real estate businesses in HCM City are gingerly reopening, mostly consulting and carrying out transactions online due to the COVID-19 prevention and control regulations still in force.