Ministry of Construction proposes to limit loans for buying second or more homes

The Ministry of Construction has just proposed three mechanisms to control housing prices, which are limiting loans for buying a second home or more, reserving at least 20% of housing projects for affordable housing, and trading through state-managed floors.

Limiting loans for buying a second home or more is a solution to control housing prices recently proposed by the Ministry of Construction - Photo: B.NGOC

Buying a second home is subject to a loan limit of no more than 50% of the home purchase contract value?

Speaking to Tuoi Tre Online , a leader of the Department of Housing and Real Estate Market Management - Ministry of Construction - said that the ministry is seeking comments from 5 ministries and branches on the content of the Government 's draft resolution on the mechanism to control and restrict real estate prices.

Accordingly, the Ministry of Construction proposed three mechanisms to control and restrain real estate prices in the coming time.

Regarding the lending policy for home buyers, the Ministry of Construction proposed that the Government require credit institutions operating in Vietnam to apply a lending limit for home loans, except for social housing.

Specifically, in the case of buying a second home, the loan limit is no more than 50% of the home purchase contract value.

In case of buying a third or more house, the loan limit will not exceed 30% of the house purchase contract value.

In addition, to make real estate transactions transparent and limit speculation, the Ministry of Construction proposed that real estate transactions must be carried out through real estate and land use rights transaction centers established and managed by the State.

The real estate transaction center will be the electronic connection point between relevant agencies and organizations in the implementation of real estate transactions, with the function of organizing, monitoring and authenticating real estate transactions, including buying, selling, transferring, and leasing.

The real estate market is seriously lacking in social housing projects and affordable commercial housing (in the photo is the NHS Trung Van social housing project, Hanoi City) - Photo: NAM TRAN

Local authorities are required to build affordable commercial housing.

To control and restrain real estate prices in the coming time, the Ministry of Construction proposed that the Government stipulate that the People's Committees of provinces and cities, depending on the actual situation of the locality, reserve at least 20% of the total number of commercial housing construction projects expected to develop in the period 2026 - 2030 to build commercial housing at suitable prices.

Also according to the draft resolution of the Government, affordable commercial housing projects are subject to the following specific policy mechanisms:

Select project investors without auction or bidding.

The order and procedures for selecting project investors are similar to those for selecting social housing project investors.

Land use fees and land rent of the project are calculated according to the land price list and land price adjustment coefficient according to the provisions of land law.

In case the land price list has not been issued for uniform application, the Provincial People's Committee shall decide the price for calculating land use fees and land rent for each specific project.

Affordable commercial housing projects also enjoy a maximum profit margin of 20% of the total project construction investment capital (including land use fees and project land rental fees).

The method for determining the selling price and lease-purchase price of housing is applied similarly to that for determining the selling price and lease-purchase price of social housing.

Affordable commercial housing projects do not have to allocate land to build social housing within the project.

Home buyers at affordable commercial housing projects are not allowed to transfer the house purchase or lease-purchase contracts according to the provisions of the law on real estate business.

For commercial housing construction projects that have been approved for investment policy, or selected investors according to the provisions of law, but need to adjust the investment objective to a commercial housing construction project at an appropriate price, the competent state agency or investor shall adjust the project investment policy according to the provisions of investment law.

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BAO NGOC

Source: https://tuoitre.vn/bo-xay-dung-de-xuat-han-che-cho-vay-mua-nha-o-thu-2-tro-len-20251007164019647.htm