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Experts: Vietnam needs to develop more rental housing projects

More attention should be paid to developing affordable house- for-rent projects in an effort to resolve the severe shortage of housing for low-income earners, young couples, the elderly and workers in urban areas, experts have said.
Experts: Vietnam needs to develop more rental housing projects ảnh 1Dong Mo-Dai Kim social housing project in Hoang Mai district, Hanoi, tackles accommodation for 2,500 people. (Photo: VNA)

Hanoi (VNA) – More attention should be paid to developing affordablehouse- for-rent projects in an effort to resolve the severe shortage of housingfor low-income earners, young couples, the elderly and workers in urban areas,experts have said.

According to the Housing and Real Estate Market Management Agency under theMinistry of Construction, although the nation’s average floor area of housingper person reaches to 23.4 square metres, there is still a thirst foraffordable houses for rent.

Pham Thi Thu Ha, from the agency’s urban housing development division, saidthat the Law on Housing 2014 encourages individuals and organisations to buildhouses for rent but they have focused on constructing houses for sale torecover their capital as soon as possible.

Many social house-for-rent projects have been developed by the State, but theyare not enough to meeting the increasing demands, particularly in big cities likeHanoi and Ho Chi Minh City, she said.

Statistics from the population and housing census showed that by 2015, housesfor rent in the country only accounted for 14 percent of the total ownedproperties. Meanwhile, local reports indicated that workers at industrial parksare renting houses built by individuals.

Experts have said that in developed countries, housing for rent is aninseparable part of the socio-economic development plans. Rented homes made upof 84 percent in Singapore and 40 percent in the Republic of Korea and Japan.

However, the house-for-rent market has been left open in Vietnam although thereis a great demand for rental houses.

Developing social rental housing projects is expected to changing Vietnamesehabit of owning a house, experts said.-VNA
VNA
#attention #developing affordable house- for-rent project #severe shortage of housing #low-income earners #young couples #Housing and Real Estate Market Management Agency #population and housing census #house-for-rent market #Vietnam News Agency #Vietnamplus
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Vietnam needs more affordable housing

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