When it comes to social housing or affordable housing for low-income earners, funding is usually a key factor in such projects. However, once the projects are completed, problems in planning, investment management and efficiency tend to crop up.
The minimum wage is too low for workers to survive on while social housing is inadequate and too expensive for them, trade unions told Ho Chi Minh City’s leaders at a recent meeting.
Ho Chi Minh City aims to build about 20,000 social houses, 35,000 concentrated residential places for workers at industrial parks and 10,000 others for students during 2016-2020.
The national housing development strategy targets having 12.5 million square metres of social and affordable housing by 2020.
The Housing and Urban Development Corporation (HUD) has started construction of a new US$16.2 million social housing project in central coastal Khanh Hoa province’s Nha Trang city.
The Department of Construction in HCM City has encouraged companies at the Hiep Phuoc and Linh Trung Industrial Parks in Nha Be and Thu Duc districts to pilot construction of residential building clusters with 25-sq.m apartments priced at VND100 million (US$4,405) for workers.
HCM City’s Party Secretary Dinh La Thang has urged local authorities to consider implementing a social housing policy that has helped attract more investors in Binh Duong province.
The south central coastal province of Binh Dinh aims to complete two apartment projects in Quy Nhon city that could accommodate 716 households in 2017, as part of the local social housing development plan for 2016 – 2020.
The Government will increase social housing so that more low-income earners can have their own houses, Prime Minister Nguyen Xuan Phuc has assured Hanoi dwellers.
Two new preferential loans, unrestricted by scale and deadline, for social housing and cheap commercial housing projects will be provided to low-income earners. The new packages are expected to continue the VND30 trillion VND housing stimulus package.
Deputy Prime Minister Trinh Dinh Dung has asked ministries and authorities to speed up the building of social housing in industrial and economic zones nationwide.
The Ministry of Construction has asked Hanoi and Ho Chi Minh City to formulate policies that promote social housing development amid a rising demand from citizens for products in this segment.
The state audit of Vietnam has revealed the misuse of many social housing apartments in major cities.
Hanoi has recorded robust economic performance in the first half of 2016, with its gross regional domestic product (GRDP) gaining 7.3%, said the municipal People’s Committee.
Building social housing for workers and improving infrastructure at industrial zones were among issues raised by more than 300 workers at recent meetings with Hanoi authorities.
Hundreds of trillions of dong in preferential loans will be provided for social housing development, according to Chairman of the Vietnam Real Estate Association Nguyen Tran Nam.
The Department of Construction in Ho Chi Minh City sought the municipal People’s Committee’s approval for a proposal to build more than 2,000 additional apartments.
The Ministry of Construction has asked the State Bank of Vietnam (SBV) to extend the terms of the government’s VND30 trillion property support package after many homebuyers expressed concern about the end of the package on June 1 this year in accordance with previous policies.
Deputy Prime Minister Vu Van Ninh has urged the Ministry of Construction to implement policies that would make social housing projects more accessible to low-income buyers.
Ho Chi Minh City's Construction Department has announced that it is co-operating with the Ho Chi Minh City Institute for Department and Research (HIDS) to survey the demand for social housing with the aim of creating a plan to develop social housing in the city in the next five years.