Demand for low-cost housing has skyrocketed in major cities but supply is insufficient, according to a recent survey conducted by the Vietnam Report Joint-Stock Company.
Of every 100 people who buy real estate, 40 percent want to buy low-cost apartments, and 23 percent want luxury apartments, says the report.
The Hanoi and HCM City People’s Committees said developers in those cities were required to either set aside 20 percent of their land or 20 percent of their apartment buildings for low-income families.
Millions of people are eligible to buy low-cost housing, but its development is being hindered by a shortage of land.
Pham Sy Liem, vice chairman of the Vietnam Construction Association, said the high demand for low-cost housing was partly due to the overbuilding of luxury apartment buildings in recent years.
The Hanoi and HCM City People’s Committees said developers in those cities were required to either set aside 20 percent of their land or 20 percent of their apartment buildings for low-income families.
Millions of people are eligible to buy low-cost housing, but its development is being hindered by a shortage of land.
Pham Sy Liem, vice chairman of the Vietnam Construction Association, said the high demand for low-cost housing was partly due to the overbuilding of luxury apartment buildings in recent years.
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