VN calls for more investment for housing development
Vietnam encourages more private
investment in housing development with a view to attaining the target
of raising the average dwelling area per capita to 14.3 sq.m by 2010
and 18 sq.m in 2020.
Vietnam encourages more private
investment in housing development with a view to attaining the target
of raising the average dwelling area per capita to 14.3 sq.m by 2010
and 18 sq.m in 2020, according to the Ministry of Construction.
Speaking at a seminar on August 5 in Hanoi , Nguyen Manh Ha, Director of the ministry’s Department for Housing and Real Estate Market Management, said that at present, the total housing stock of the country exceeds 1 billion sq.m, which means every Vietnamese has 12.2 sq.m of housing on average.
Of the total, around 30 percent, or 320 million sq.m of dwellings are built in urban areas and the remaining 70 percent in rural areas, Ha added.
Almost all participants at the seminar, entitled “Creating incentive policies for housing development”, agreed that Vietnam ’s housing policy has been modified to better cater the people’s growing needs during the fast-paced process of urbanisation in recent years.
The Vietnamese Government decided to eliminate its housing subsidy system in 1986, shifting toward more market-oriented mechanisms, such as selling state-owned houses to tenants, investing in new urban areas with multi-storey housing blocks and mobilising people’s ability to get more involved in their own housing.
However, Ha pointed out that up to 70 percent of the total housing stock was built by individuals (either new construction or renovation) while investors’ contribution was only 30 percent.
Meanwhile, a survey by the UN Habitat – an urban development programme in Vietnam --suggested that 25 percent of the current dwellings in Vietnam are of poor quality, with some of them being makeshift houses built by low income families that can’t afford to buy a new house or renovate their current dwelling.
Therefore, the Ministry of Construction said priority will be given to the implementation of the national housing development programme for the 2010-2015 period, which will further create favourable conditions for investors, both local and foreign, to develop housing in the country.
The programme will focus on renovation and reconstruction of old housing blocks, and development of flats for low-income people, students and workers./.
Speaking at a seminar on August 5 in Hanoi , Nguyen Manh Ha, Director of the ministry’s Department for Housing and Real Estate Market Management, said that at present, the total housing stock of the country exceeds 1 billion sq.m, which means every Vietnamese has 12.2 sq.m of housing on average.
Of the total, around 30 percent, or 320 million sq.m of dwellings are built in urban areas and the remaining 70 percent in rural areas, Ha added.
Almost all participants at the seminar, entitled “Creating incentive policies for housing development”, agreed that Vietnam ’s housing policy has been modified to better cater the people’s growing needs during the fast-paced process of urbanisation in recent years.
The Vietnamese Government decided to eliminate its housing subsidy system in 1986, shifting toward more market-oriented mechanisms, such as selling state-owned houses to tenants, investing in new urban areas with multi-storey housing blocks and mobilising people’s ability to get more involved in their own housing.
However, Ha pointed out that up to 70 percent of the total housing stock was built by individuals (either new construction or renovation) while investors’ contribution was only 30 percent.
Meanwhile, a survey by the UN Habitat – an urban development programme in Vietnam --suggested that 25 percent of the current dwellings in Vietnam are of poor quality, with some of them being makeshift houses built by low income families that can’t afford to buy a new house or renovate their current dwelling.
Therefore, the Ministry of Construction said priority will be given to the implementation of the national housing development programme for the 2010-2015 period, which will further create favourable conditions for investors, both local and foreign, to develop housing in the country.
The programme will focus on renovation and reconstruction of old housing blocks, and development of flats for low-income people, students and workers./.
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
