From August 1, conditions for purchasing social housing will be relaxed when there are no longer residence requirements, only some housing and income conditions will be stated.
The 2023 Housing Law adds groups of subjects entitled to social housing support policies in Article 76, such as: Relatives of martyrs; civil servants and defense officials; people working in key positions; students of specialized schools; enterprises, cooperatives, and cooperative unions in industrial parks.
In addition, the residence condition when purchasing social housing will be abolished from August 1 according to the provisions of the Housing Law 2023. Specifically, Article 78 of the Housing Law 2023 stipulates that the conditions for enjoying social housing support policies no longer require residence conditions, only stating some conditions on housing and income.
Firstly, they must not own a house in the province or city where the social housing project is located; have not purchased or leased a social housing; have not enjoyed housing support policies in any form in the province or city where the social housing project is located or own a house but the average area per capita is lower than the minimum housing area...
Second, must meet income requirements as prescribed by the Government for each specific subject or belong to poor or near-poor households.
Commenting on this regulation, Mr. Nguyen Van Dinh, Chairman of the Real Estate Brokerage Association, said that loosening some conditions for social housing buyers will create more favorable conditions for those in need. However, it is necessary to consider where social housing buyers work and what their income is before they can buy to facilitate debt repayment.
" In addition, the long-standing difficulty in social housing is still the lack of land funds. Therefore, the State needs to soon create land funds to attract businesses to participate in auctions for social housing. When the supply of social housing increases, it will increase the opportunity for low-income people to buy houses, " said Mr. Dinh.
Sharing the same view, Mr. Nguyen The Diep, Vice President of Hanoi Real Estate Club, said that the new law will help expand the target audience for home buyers, increase liquidity for social housing projects, and limit the waste of housing after construction is completed.
" Many completed social housing projects are unsold because home buyers do not satisfy the conditions, including the factor of confirming residence. The new law stipulates that the residence condition is removed to expand the subjects accessing social housing ," Mr. Diep stated his opinion.
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