The Ministry of Construction (MoC) and the German Cooperation Organisation (GIZ) signed a Memorandum of Understanding (MoU) on cooperation in developing the Vietnam Green Housing Programme, expected to save about 6.3 billion kWh of electricity over the next decade.
The Hanoi Department of Construction has listed 22 commercial housing projects, some complete and some under construction, where foreigners can own homes.
Only 28 percent of industrial zone workers are provided with stable accommodation, while the rest have to rent houses with poor sanitation and infrastructure.
Lawmakers voiced their concerns about the high real estate prices which is about 25 times of average income, and the uncontrolled rising property prices in some localities during a question-and-answer session at the National Assembly on June 4.
The Department of Construction of central Da Nang city has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Son Tra peninsula and six in downtown Hai Chau district.
Hanoi sets a target of developing additional 11 million sq.m of housing in 2018, including 430,000 sq.m of social housing, nearly 348,000 sq.m of resettlement housing and more than 2.1 million sq.m of commercial housing.
The real estate market in Ho Chi Minh City is on track to bounce back, but its sustainable development will only be ensured if housing demand from low-income and average-income earners is satisfied.
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