Homebuyer incentive
Homebuyer incentive
Commercial banks taking part in the Government's VND30 trillion ($1.42 billion) stimulus package have granted loans of VND333.1 billion ($15.86 million) to 939 household and individual clients.
According to the State Bank of Viet Nam (SBV), as of October 31, loans of VND220.9 billion ($10.52 million) from the package had been disbursed to 905 homebuyers.
Vietcombank has committed loans of VND109.4 billion to 309 clients, Vietinbank VND82.3 billion to 253 clients, BIDV loans of VND 101.9 billion to 234 clients, Agribank VND26 billion to 93 clients, and MHB VND13.5 billion to 50 homebuyers.
SBV said BIDV, Vietinbank and Agribank have also signed contracts to provide loans of VND870.4 billion ($41.45 million) from the package to seven property firms in HCM City, Thua Thien - Hue, Can Tho, Bac Ninh, Hai Duong and Da Nang. These include disbursements of VND122.6 billion ($5.84 million) to four of these property firms.
SBV also urged commercial banks under the VND30 trillion stimulus package to report on any hindrances facing homebuyers under the programme.
In related news, the HCM City People's Committee has directed district, commune and ward administrations to simplify formalities for homebuyers in their respective localities.
The directive comes following residents' complaints about cumbersome procedures that prevent them from accessing preferential loans. These loans are designed to help low-income people buy their own homes, and are also expected to enable a real estate market revival.
According to Nguyen Hoang Minh, deputy director of the SBV's HCM City branch, as of September, 137 individual clients in HCM City had signed contracts for loans of VND78.46 billion ($3.74 million). Of this, VND22.6 billion ($1.08 million) had been disbursed to 58 applicants, he said.
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