First realty project benefits from VND30-trillion loan scheme

First realty project benefits from VND30-trillion loan scheme

Khang Gia Tan Huong condo project in HCMC’s Tan Phu District has become the first to benefit from the Government’s VND30-trillion home loan subsidy program.

Khang Gia Investment and Real Estate Development Joint Stock Company, the developer of this project, on Tuesday signed cooperation agreements with three realty exchange centers to launch the sale of these apartments, which are measured under 70 square meters each and priced no higher than VND15 million per square meter.

Nguyen Ngoc Thanh Chung, deputy general director of the company, said that around 110 out of 338 apartments of this project will be distributed by three realty firms, namely Nam Viet, Danh Khoi and Hoang Anh Sai Gon.

Phung Van Nang, director of Nam Viet Company, said the apartments are priced from VND14.8 million per square meter, or around VND810 million a unit, with value-added tax included.

Saigon West branch of Bank for Investment and Development of Vietnam (BIDV) will provide loans up to 80% of the apartment value to homebuyers. The interest rate will be fixed at 6% per annum in 15 years. The condos will be handed over to clients within this year.

To reach these preferential loans, homebuyers must present certifications of employment, current conditions of their homes and registered addresses of residence. Temporary residents will have to pay social insurance for one year or more.

Besides, they have to present condo buying contracts signed with the investor. They can use either apartments they will buy or other assets to mortgage the loans.

According to the HCMC Department of Construction, there have been nine commercial projects with nearly 2,300 condos meeting requirements of the VND30-trillion loan package.

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