A project named “Humanitarian Aid and Post-Flood Recovery in Central Vietnam”, funded by the Dutch Relief Alliance under the Foreign Ministry of the Netherlands, was launched in the central province of Quang Nam on December 29.
Vietnam has 513 social housing projects for workers, 249 of which with 5.2 million sq.m of floor area are completed, or 41.7 percent of the plan, according to figures from the Ministry of Construction.
Ho Chi Minh City is expected to need an additional 160,000 social housing apartments in the next decade to meet its rising population and demand for affordable housing, according to the city’s Department of Construction.
Japan’s Nomura Real Estate Development Company Limited has agreed to participate in a condominium housing project within the Ecopark project, a large-scale development undertaken by Ecopark Corporation Joint Stock Company in the northern province of Hung Yen.
The property industry in Ho Chi Minh City, and in fact the country in general, faces several problems that need urgent solutions, especially with regard to legal provisions.
Social housing could be the solution to driving the real estate market out of this difficult time caused by the COVID-19 pandemic, according to the Ministry of Construction.
The northern province of Bac Giang plans to mobilise some 92.5 trillion VND (3.9 billion USD) by 2025 for its housing development programme, under which it targets building 85,600 housing units with total floor area of more than 12.98 million square metres.
The transaction volume on the domestic real estate market dropped to a four-year low for Q1 due to the impacts of the COVID-19 pandemic, and many real estate trading floors have temporarily closed, according to the Vietnam National Real Estate Association (VNREA).
Tax incentives for developers of social housing projects for lease should be made clear and consistent to encourage private investment in the segment, according to the HCM City Real Estate Association.
The Vietnam Real Estate Association has proposed the Government develop measures with a focus on credit and tax support, together with improving the legal framework for new property products so as to aid the property market to overcome this difficult period.
There was not a single social housing project in Ho Chi Minh City this year, and with support funds for them being limited, there is a fear the situation could continue, experts said.
Green buildings provide more benefits for investors in the long term than normal buildings and reduce the economic burden for low- and middle-income families, according to general secretary of Vietnam Real Estate Association (VNREA) Nguyen Viet Chien.
Deputy Minister of Labour, Invalids and Social Affairs Doan Mau Diep visited the Lang Giang war-invalids nursing home in the northern province of Bac Giang on July 22, as well as presented gifts and 10 million VND (430 USD) to the invalids on the occasion of the 72nd anniversary of War Invalids and Martyrs Day.
As many as 1,030 apartments will be available in 2021 for low-income people at the price of 8 million VND (343 USD) per square metres in Thanh Lam-Dai Thinh 2 new urban area in Me Linh district, Hanoi city.
Hanoi will soon have 1,300 new apartments thanks to a social housing project invested by Capital House Group, a real estate developer focusing on green buildings in Vietnam.
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