In-depth
More low-income housing projects to be carried out
  • | dtinews.vn, TP | May 19, 2022 03:26 PM

Low-income housing projects will be prioritised in major cities, particularly Hanoi and HCM City.

Real estate giant Vinhomes has announced plans to build 500,000 social housing apartments priced below VND1 billion across the country over the next five year. In August this year, the firm will start its first project.

 

Low-income housing projects will be prioritised in major cities, particularly Hanoi and HCM City

Housing and Urban Development Corporation has recently started work on a social housing project in the northern province of Hanoi to offer 564 apartments priced at just VND380 million (USD16,521) each.

Thanh Hoa provincial authorities have approved a low-income housing project in Thanh Hoa City which will provide up to 2,400 apartments.

Meanwhile, Ninh Binh Province has agreed on a project to build 2,153 apartments at Gian Khau Industrial Park and neighbouring areas.

Four low-income housing projects in the country were completed in the first quarter of this year according to the Ministry of Construction. During the period, only three projects of the same kind were licensed with a total number of 1,200 apartments in Lang Son, Phu Tho and Quang Ninh projects. In contrast, up to 39 commercial housing projects providing 18,700 apartments in total were licensed.

By the end of 2021, 266 low-income housing projects in Vietnam were finished with 142,000 apartments in total, slower than the target of the national housing development plan by 2020 and a vision until 2030.

Until now, only 116 of 214 housing projects have been completed, while the remaining 98 are behind schedule. As a consequence 575 industrial parks nationwide are facing a serious shortage of housing.

Vietnam will need VND220 trillion to build 294,600 low-income apartments during the 2021-2025 period.

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