On May 12, VIE GVT decreased interest rate for social housing loans.
VIE GVT decreased interest rate for social housing loans to 4.8% from 5%, which is applicable from May 10, 2023 to Dec. 31, 2024, to provide more affordable options.
The decision aims to provide more affordable housing options for low-income households who wish for purchase, rent, construct or repair residential houses.
Background
In Apr. 2022, the Prime Minister signed decision 338/QD-TTg approving a program to build 1,062,200 social housing apartments for low-income earners and workers.
Effectiveness
The interest rates for the loans are applicable from May 10, 2023 to Dec. 31, 2024.
