Young people's dream of settling down: Support from social housing policy

Amidst the hustle and bustle of making a living, the dream of owning a home is still a burning desire of many young people. However, in the context of a volatile real estate market and increasing income pressure, that dream sometimes becomes distant. Now, the birth of a preferential credit package for young people under 35 years old to borrow to buy social housing is becoming a solid foundation, turning the dream of settling down for the young generation into reality.

Agribank Lap Thach branch staff introduces to customers a preferential credit package to buy social housing for people under 35 years old.

In the context of the real estate market still facing many difficulties, the State Bank has made a remarkable step by issuing a special preferential credit policy for people under 35 years old to borrow to buy social housing. This policy not only contributes to realizing the dream of settling down for millions of young people, but also affirms the leading role of the banking system in capital flow in removing housing bottlenecks for the middle and low income groups.

Mr. Nguyen Thanh Tuan, Deputy Director of Agribank Vinh Phuc branch, Phu Tho province shared: "Agribank always has credit programs specifically for each customer group with many attractive incentives. Currently, we are implementing a credit package of 10,000 billion VND for customers under 35 years old to borrow to buy social housing. This loan package includes many incentives on interest rates as well as flexible loan terms, from short, medium to long term, suitable to the needs of customers, while ensuring the interests of the bank."

Agribank has pioneered in implementing the direction of the Government, the Prime Minister and the State Bank on solutions to support young people under 35 years old to buy social housing. The program offers many outstanding advantages such as preferential interest rates, flexible loan terms and simple procedures, suitable for the financial capacity of young customers in the career development stage. This is considered a practical financial solution, helping young people have more opportunities to own a house, stabilize their lives and create a solid foundation for the future.

Agribank Lap Thach branch staff guides customers through loan procedures.

Young people like Mr. Vu Ngoc Khanh, Son Dong commune, could not hide their excitement: "Buying a house is extremely difficult for young people like us. If we save up, it will take a long time to buy one. The support policies from Agribank help me buy a house early, from there I can settle down and work with peace of mind."

The preferential loan program for purchasing social housing for individual customers under 35 years old is applied to loans disbursed from May 30, 2025 to December 31, 2030 or until the program is exhausted. The borrowers are individual customers under 35 years old who need to borrow capital to buy social housing in projects announced by the Ministry of Construction or the People's Committees of provinces and cities. Notably, each customer can only borrow capital once to buy an apartment in a project in the announced list.

Regarding interest rates, the program applies preferential rates for up to 15 years from the date of disbursement. In the first 5 years: Applying a loan interest rate 2% lower than the average medium and long-term VND loan interest rate of 4 State-owned commercial banks (Agribank, BIDV, Vietcombank and Vietinbank). The interest rate applied until June 30, 2025 is 6.1%/year.

In the next 10 years: Apply a loan interest rate 1% lower than the average medium and long-term VND loan interest rate of the 4 above-mentioned State-owned commercial banks. From July 1, 2025, every 6 months, Agribank will announce the loan interest rate during the preferential period based on the announcement of the State Bank.

Agribank - where preferential credit packages are implemented.

Ms. Nguyen Thi Ly, Deputy Director of Agribank Lap Thach branch, Phu Tho province emphasized: "In the beginning of the second quarter of 2025, Agribank has implemented a preferential loan program for individual customers under 35 years old, especially civil servants and employees who want to buy social housing. This contributes to helping young people settle down, find a job and promote sustainable development of the real estate market."

Ms. Phung Thi Van Anh, Deputy Director of Nam Vinh Yen Transaction Office, Phu Tho province said: "Agribank Vinh Phuc branch has actively deployed this loan package to second-class branches and transaction offices, helping young customers realize their dream of owning a house, stabilizing their lives, confidently developing and contributing to society."

Regarding the approach solutions, Mr. Nguyen Thanh Tuan added: "We have proactively approached social housing investors to introduce products, services and provide the most comprehensive information to customers. At the same time, we use many existing communication channels, coordinate with local press agencies to widely inform customers, ensuring that products are provided in the most effective way."

In order for the policy to be put into practice in a practical way and maximize its effectiveness, it also requires determination from authorities at all levels in speeding up project progress, clearly announcing the list of social housing and creating the most favorable conditions for people.

Ngoc Thang

Source: https://baophutho.vn/giac-mo-an-cu-cua-nguoi-tre-diem-tua-tu-chinh-sach-nha-o-xa-hoi-236643.htm