At yesterday’s seminar "Unblocking real estate - Promoting growth" in Hanoi, real estate and banking experts said that the biggest bottleneck of the market presently is the lack of supply and capital.
The steel market is likely to recover in the third and fourth quarters of this year thanks to augmented efforts to disburse public investment and credit packages for social housing projects, along with positive signs of the Vietnamese economy.
The real estate market in HCMC and neighboring provinces gradually enjoy new trades after a long nearly freezing period. This positive sign is thanks to a series of policies to address current issues for this market.
Developers of social housing projects and buyers of this kind of house are entitled to benefit from a credit package worth VND120 trillion (US$5.1 billion) which was started by the State Bank of Vietnam (SBV) earlier this month.
On March 28, the Nguoi Lao Dong (Laborers) Newspaper held a seminar titled "Breakthrough in Social Housing Development," which saw the attendance of department leaders, economic experts, and real estate businesses.
Prime Minister Pham Minh Chinh has just signed a document requesting more efforts to promote the development of and remove obstacles to the real estate market.
Ring Road No.3 has been co-built by Ho Chi Minh City, Binh Duong Province, and Long An Province. When completed, it will greatly release the traffic burden in inner cities while effectively linking regions in the Southern Key Economic Zone.
Speaking at the conclusion of the questioning session of Minister of Construction Nguyen Thanh Nghi at the 4th session of the 15th National Assembly on November 4, Vice Chairman of the National Assembly Tran Quang Phuong said that 61 delegates registered, 36 questioned, and one argued directly. The Q&A session took place in a lively, responsible, frank, and constructive manner.
The Prime Minister yesterday requested the formation and implementation of the project ‘Building at least 1 million Social Houses for the Low-Income, Workers in Industrial Parks from 2021-2030’, specially to boost the development of social housing.
Chairwoman of the People's Council of Ho Chi Minh City Nguyen Thi Le suggested that the municipal People's Committee review public land funds for the construction of worker accommodation and houses for workers to rent in export processing zones, industrial parks or located near export processing zones and industrial area.
Recently, at the annual general meeting of shareholders of Hoa Phat Group Joint Stock Company (HPG), Mr. Tran Dinh Long, Chairman of the Board of Directors, informed that HPG's daily revenue is VND500 billion. The company has 161,000 shareholders, the largest scale on the Vietnamese stock market. In 2021, HPG's post-tax profit was VND35 trillion, and tax payment was VND12.4 trillion. This is a huge profit level, leading the private sector in Vietnam.
Regarding the socio-economic situation in the first five months of the year, Deputy Director of Ho Chi Minh City Department of Planning and Investment Dao Minh Chanh said that the epidemic situation in the area continued to be under control and the city's economy continued showing a sign of good recovery. City dwellers and businesses are eager.
Ho Chi Minh City is making efforts to develop housing so that workers and employees have good accommodation. Experts, representatives of workers, and laborers said that, besides building social housing for sale, authorities in the southern metropolis should develop social housing, and accommodation for rent so that workers and employees can reside in the city long time.
The project consists of two 12-story buildings with 360 apartments, built on an area of 5,082 square meters with a total investment of about VND408 billion (US$17.72 million). It is expected to provide accommodations for more than 1,000 workers. Laborers staying in the accommodation house are entitled to use facilities such as kindergarten, commercial and service areas, and amusement parks.
The Department of Construction has recently reported to the People's Committee of Ho Chi Minh City on the housing development in the first quarter of 2022 and the plans for 2021, 2022, and the period of 2021-2025. Noticeably, it includes the land fund for the construction of social housing.
Ho Chi Minh City authorities are seeking VND37.6 trillion (US$1.66 billion) to build affordable housing for workers over the next five years, of which State revenue will account for no more than 5 percent of the total investment, according to the Department of Construction.
“This is the most meaningful investment promotion. Especially in the context of the Covid-19 pandemic, this action is even more meaningful," Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen praised the Management Board of the Saigon Hi-Tech Park (SHTP) for prioritizing the health and life of workers and laborers above all.
The State Bank of Vietnam (SBV) has proposed that commercial banks not be allowed to provide preferential loans to low-income people seeking to purchase, lease and lease-purchase social houses.
During the Covid-19 pandemic, shanties and boarding houses in slums are the places where the disease is most contagious ever. If the living conditions become better, people can cope with the pandemic more effectively, minimizing loss of life.
