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PM decides to reduce lending interest rate for social housing buyers |
Prime Minister Pham Minh Chinh yesterday signed Decision 486/QD-TTg on the preferential interest rate of loans with outstanding balance for social housing purchase and lease purchase, new construction or home renovation or repair.
Accordingly, those asking for loans for social housing purchase and lease purchase, new house construction or home renovation or repair at the Bank for Social Policies will be eligible to enjoy preferential lending interest rate of 4.8 percent a year.
The PM’s Decision takes effect from May 10, 2023 to December 31, 2024. Currently, the interest rates of commercial banks in 2023 for outstanding loans for housing support loans is 5 percent a year.
Previously, the project ‘Investing in the construction of at least 1 million social housing apartments for low-income people and workers in industrial parks in the period of 2021 – 2030’ was approved by the Government with the aim to build enough affordable social housing and workers' housing for middle- and low-income families in urban areas and workers in industrial parks and export processing zones.
The project strives that by 2030, about 1,062,200 affordable social houses will be built. In which, about 428,000 apartments and about 634,200 apartments will be completed in the period of 2021 – 2025 and in the 2025 -2030 period respectively.
