Policy leverages help promote real estate market

Despite difficulties from the COVID-19 pandemic, the real estate market has maintained stability thanks to support policies from the Government.
Policy leverages help promote real estate market ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Despite difficulties from the COVID-19pandemic, the real estate market has maintained stability thanks to supportpolicies from the Government.

According to the Ministry of Construction, the Governmentand ministries, sectors have issued a number of legal documents regarding theimplementation of real estate investment and construction projects, while banks have offeredpreferential policies to give financial support for investors and house-buyersin the field.

Notably, the Government issued Decree 54/2021/ND-CP on May21, 2021 detailing regulations on environment impact assessment, which isapplicable to organisations, individuals engaging in investment activities.

Vu The Hung from the Vietnam Environment Administrationunder the Ministry of Natural Resources and Environment, held that this is anecessary step in the process of issuing an investment licence for a project,removing difficulties facing investors and ensuring the coherence of regulations on investment and environment.

Meanwhile Decree 69/2021/ND-CP, which will become effectivefrom September 1, is expected to deal with obstacles in the upgrading of oldapartment buildings.

At the same time, the social housing development programme hasreceived due attention from the Government, ministries and sectors.

Decree 49/2021/ND-CP, issued on April 1, 2021 to replaceDecree 100/2015/ND-CP issued on October 20, 2015 on developing and managingsocial housing is hoped to remove difficulties in social housing expansion,meeting the people's demand of houses with stronger support from creditinstitutions.

Meanwhile, the State Bank of Vietnam has issued Decision 697/QD-NHNNdefining the interest rate of 4.8 percent per year for loans for purchase andrenting of low-cost houses as well as upgrading their houses.

Financial support has been offered to investors andhouse-buyers from banks with cut in interest rate.

Experts held that the decrees and decisions as well asguiding circulars of relevant ministries and sectors from early 2021 will helpthe real estate market thrive despite impacts of four waves of COVID-19pandemic./.
VNA

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