Many wealthy people have exploited loopholes in laws to scramble for low-priced houses which are built to serve low-income earners.
At Dang Xa residential area in Long Bien District which is a low-income housing project, is easy to see cars, even those with luxury brands, parked there. Their owners are from Hanoi and the surrounding provinces of Hung Yen, Hai Duong and Bac Ninh. Many of them are not low-income people and have their own houses already, but they have somehow been able to buy the houses.
Many cars being parked at Dang Xa residential area
A house covering around 700 square metres at Dang Xa is priced at around VND700 million (USD33,330) and the services fees are also reasonable.
A rich person told a reporter that he already has a five-floor house in Hai Ba Trung District and also owns a stake in a big company. He recently bought a 65 square-metre house at Dang Xa for VND600 million. He often uses it as the place for his family to take a rest at every weekend. He said that many other people in this area are the same to him.
Another man named Huy Linh said that he knew many men had bought Dang Xa houses for their girlfriends. Meanwhile, many others lease the houses to earn more.
According to the Ministry of Construction, 51 low-priced housing projects with a total 25,800 apartments have been completed; however, this still failed to meet the increasing demand of low-income people. Meanwhile, other 171 projects have been underway.
If rich people continue faking their papers to buy low-priced apartments, low-income earners will never have places to live.