SOCIAL HOUSING PROJECTS OFFER 4,000 NEW UNITS IN Q1

Social housing buildings are seen in HCMC - PHOTO: LE VU

HCMC — Eleven new social housing projects were completed nationwide in the first quarter, adding 4,155 social housing units to the market, according to the Ministry of Construction.

These projects account for 4.14% of the annual target set by the prime minister. In addition, construction permits were issued for eight more projects with a combined 12,650 units.

In total, 19 social housing projects were completed or licensed during the period, with a combined 16,805 units aimed at low-income earners and industrial workers.

Vietnam aims to complete 100,275 social housing units this year. Bac Ninh, Haiphong and Binh Duong received the largest allocations, with 10,686, 10,158 and 8,247 units, respectively.

Under the national plan to develop at least one million social homes by 2030, 657 projects have been launched. Of these, 103 projects have been completed, providing 66,755 units. Another 140 projects are under construction, and 414 have secured investment approval.

A VND120-trillion credit package for social housing has disbursed VND3.4 trillion so far. Authorities in 38 out of 63 provinces have registered 97 projects to join the program.

The Construction Ministry called for more inspections and measures to address legal and procedural obstacles in the real estate sector. It is also drafting new regulations on housing, urban planning, and real estate transactions.

Plans include a pilot for a state-run property and land-use rights exchange and a National Assembly resolution on social housing policy.

The ministry also urged the Ministry of Finance and the Ministry of Agriculture and Environment to monitor land prices, prevent speculation, and propose tax policies to discourage hoarding. Local governments were told to track price volatility and respond to market distortions linked to planned administrative mergers.

Source: The Saigon Times