This was announced at an online meeting related to the programme held in Hanoi on June 11 with the attendance of representatives from the Ministry of Construction and the State Bank of Vietnam (SBV).
Under the programme, money has been assigned to five banks, namely the Bank for Agriculture and Rural Development (Agribank), Bank for Investment and Development of Vietnam (BIDV), Bank for Industry and Trade of Vietnam (VietinBank), Bank for Foreign Trade of Vietnam (Vietcombank) and the Mekong Housing Bank (MHB) so that they can provide low-income residents with preferential loans at 6% to buy flats which cost no more than VND 12 million (US$576) per square metre.
Speaking at the meeting, Nguyen Viet Manh, an official from the SBV said that the programme has made positive contributions in aiding the economic recovery of the real estate market and meeting the increasing demand for housing of low-income residents.
The Ministry of Construction has recently announced its list of social housing projects, including 48 that have been converted from commercial housing projects, 38 projects built for workers at industrial zones and 29 projects targeting low-income earners.
In the coming time, the Ministry will submit to the Government their plans on a large-scaled landsite to increase social housing supply for low-income home buyers.
