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Block 30 trillion: "It dragged home prices down further"


It is shared by MPs, economist Tran Du Lich answering PV of 30,000 billion support package.

Do not save the real estate market

Sir, if 30,000 billion stimulus package for the real estate market has warmed promising market is not bleak?

All types of houses are as common in Hanoi, HCMC. Ho Chi Minh City worth $ 1 billion, the provincial housing costs around 500-600 million. This is a type of market segments are more people looking to buy. Now there are many apartments are at $ 1.3 billion but not sold. If the business down to 1 billion price, the buyer will come back. I think we should support in principle for the above type, which is now home buyers and the buyers credit which is in accordance with this Regulation.

But if so, the commercial banks may be reluctant to lend because of low profitability but high risk?

The commercial bank lending in the package will be 30,000 billion bank refinancing to the State. This package supports promoting how effective is dependent on the purchasing power of the people. However, the aid package will not be able to save the real estate market because social housing is not market size. In my opinion, we should have a little change in the object is support package is in the big city will apply for $ 1 billion, also in the province is 500-600 million. Banks on the route which the lender. In addition, this work should be carried out until the end of 2015, ie within 3 years in a row.

Block 30 trillion: Must drag home prices down further
In fact, social housing for subjects who have low income but distinguishing criterion is not clear at present. What do you think about this?

Speaking of housing discrimination criteria for low or high income, this is not an easy job because the market price in each local. In big cities, social housing prices could be 1 billion in the countryside but only a few hundred million. Because the real estate market brings its own character to the area should also have appropriate policies in each area.

There should be a fund for low-income rental

So we keep the concept of social housing is the segment for low-income people are reasonable if not, sir?
 Until now, we still think low-income housing is social housing, but not entirely so. Social housing built by the state for homeless people, low income people who can not afford a new home is literally in social housing. What about other kinds which I call home in the form of ordinary income is consistent with the purchasing power of the majority of employees, civil servants and other objects can purchase installment payment within 10 - 15 years remain as a cheap trade.

But only lend support package for home buyers society really is not fair, sir?

In fact, for low-income people today, they also can not afford to buy a home. In my opinion, we need to create conditions for everyone in the home, not everyone is eligible to own houses. As in other countries, the social housing, housing for low-income people by the State is built to stand up for low-income people can rent cheaply. If you build a house for the commercialization of low-income people who can hardly afford, they can only rent it.

I have never seen a model house built by the Malaysian State. Each such building is divided into 3 categories. Type for low-income people, prices are half the building. Type of income for the average selling price equivalent to the construction cost. And for the kind of high-income earners, half price construction cost. Thus, the debt and make the other state will not cover losses.

He fears 30.000 billion support package will generate interest groups that benefit banks backyard corporations, real estate business?

30,000 billion support package will establish the tripartite contract relationship between banks and borrowers sell their homes and businesses. This commitment will confirm the amount paid by bank transfer to buy homes that are bank and mortgage lender will monitor the house. If in local organizations such as the Housing Development Fund, the fund will act as intermediaries between banks and borrowers.

Therefore, I suggest additional content, which is the local housing development fund, then it should be linked to local banks to promote trade and mediating role in the evaluation process as well as the implementation. Speaking about 30,000 billion aid package, state policy, but correct processes, objects, how to review and finalize the roadmap should last until the end of 2015 rather than as a short time.

Thank you!
Source: CafeF