Hanoi is seeking experience from Singapore in urban governance, social housing development and enhancing capacity for cadres, Chairman of municipal People’s Committee Tran Sy Thanh has said.
As of August 8, more than 177,989 labourers in Hanoi have received housing rent support under the Prime Minister’s decision with a total amount of over 92.8 billion USD (3.966 million USD), equivalent to 63.6% and 51% of the set plan, respectively.
The Ministry of Construction has been asked to work with other ministries and sectors to draft and submit a plan to build at least 1 million apartments of social housing for workers and low-income earners between now and 2030 to the Government in August.
The State Bank of Vietnam (SBV) will give flexible and suitable management to guide credit resources to business and production activities and create favourable conditions for workers and low-income earners to access capital for house purchase, Governor Nguyen Thi Hong said on August 1.
Prime Minister Pham Minh Chinh chaired a conference on August 1 to discuss measures to expand social housing facilities for workers and low-income earners.
Poor and near-poor households in poor districts nationwide will get financial assistance for housing from August 15 under a circular guiding the implementation of housing support under the National Target Programme on Sustainable Poverty Reduction in the 2021-2025 period.
Government Decree No 44/2022/ND-CP about the development, management and use of the information system about housing and real estate is expected to improve the transparency of the property market.
Ho Chi Minh City expects to build about 35,000 social housing units with 2.5 million square metres of floor space in 2021-2025, and nearly 58,000 units with a floor space of 4.08 million square metres by 2030.
President Nguyen Xuan Phuc has asked the Vietnam Federation of Civil Engineering Association (VFCEA) to improve the quality of consulting, assessment and social criticism in the construction sector.
Social housing projects that developers were hesitant to invest in due to capped profit suddenly gained traction as giant developers recently announced plans to step into the segment.
Two 12-storey dormitories for factory workers are under development in Thu Duc City, Ho Chi Minh City, capable of accommodating more than 1,000 people.
Residential real estate is one of the segments considered by Vietnam Report Joint Stock Company (Vietnam Report) as having strong growth potential in the property market. Accordingly, the new supply and the expectation of a high floor price will increase profit margins for real estate businesses.
Some 3.4 million labourers would benefit from the housing rent support policy that has been recently approved by the Prime Minister, heard a press conference in Hanoi on March 30.
Prime Minister Pham Minh Chinh attended the ground-breaking ceremony of the Vietnam - Singapore Industrial Park (VSIP) No. 3 in southern Binh Duong province on March 19.
Home rents have risen to a seven-year high in Singapore, already one of the world's most expensive cities, even though the city-state's population has dipped in the past two years.
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