Vietnamplus

The Government has issued a new decree aiming to promote the development of social housing.

Only 28 percent of industrial zone workers are provided with stable accommodation, while the rest have to rent houses with poor sanitation and infrastructure.

The Malaysian Government is planning to build one million units of affordable homes within the next 10 years as part of its efforts to help more people, especially low-income earners, to own homes.

The real estate market is suffering a severe shortage of affordable homes despite the segment witnessing huge demand, attendees heard at a recent conference.

Vietnam’s major cities are gearing up to develop homes for workers, planning to construct small studios of some 25-50sq.m at the price of 150 million (6,500 USD) per unit.

The property market expects to see a wave of developers expand into affordable housing developments, which faced a severe shortage until the Government took steps to promote investment.

Ecohome 2, a social housing project in Bac Tu Liem district, Hanoi, is offering 930 apartments for the capital’s lower-income groups.