HoREA reports difficulty accessing 145 trillion VND credit package

The Ho Chi Minh City Real Estate Association (HoREA) reports that social housing developers are struggling to access a 145 trillion VND credit package offered by nine banks at a 6.1% annual interest rate. Instead, many developers are forced to use commercial loans with interest rates reaching as high as 14%.

HoREA has proposed lowering the preferential interest rate for social housing buyers to 4.8% per year, similar to the 2021–2024 period, noting that current rates remain too high for low-income earners. Additionally, the association recommended tax reductions for rental housing projects and simplified investment procedures to reduce costs and support small businesses.