63 projects to transfer use purpose, 42,370 commercial apartments into social housing

According to the Ministry of Construction, there are 63 projects registered to convert from commercial houses to social houses with the construction scale of 42,370 apartments.

According to the Report of the Ministry of Construction to the National Assembly, over the past time, the review, adjustment and restructuring of real estate projects to meet the needs of the market has been implemented, but many The lack of decisiveness in the withdrawal or suspension of projects not in accordance with the planning, plans and real needs of the market.

The country now has 63 projects registered to convert from commercial housing to social housing

Accordingly, the original number of 44,700 apartments, newly proposed by the owners (reduced the area) into 60,000 apartments. These projects are mainly located in two big cities, Hanoi and Ho Chi Minh City.

Regarding developments in the real estate market, the content of the report indicates that housing prices in the first nine months of 2017 are generally unchanged. However, there are signs of speculation, distorting information through distribution.

In Hanoi and Ho Chi Minh City. In HCM City, the prices of houses in urban areas in some high-end luxury apartment projects are attractive, the prices are slightly higher, about 3 – 5% compared to 2015 (especially there are projects with an increase of 10 %).

In addition, the inventory of real estate has decreased, but still quite large, the rate of inventory reduction in recent months has slowed down as most of the projects are located far from the center and the infrastructure. It is very difficult to sell.

As of September 20, 2017, the total value of real estate inventory is about VND26,294 billion compared with December 2016 decreased VND4.279 billion (down 15.24%); compared with August 20, 2017 decreased VND450 billion.

The Ministry of Construction also said that in the country, there are 63 projects registered to convert from commercial housing to social housing with the construction scale of about 42,370 apartments.

Previously, according to the Ministry of Construction, in 2016, the country has completed construction of 179 social housing projects with a scale of about 71,150 apartments, equivalent to 3.7 million sqm, the total level VND 25,900 billion. 97 projects are social housing for workers in industrial zones, 82 projects are social housing for low income people.

According to the Ministry of Construction, the average house area in the whole country will increase steadily over the years, reaching 22.8 sqm / person by the end of 2016 (increasing 0.8 sqm / person in comparison with 2015).

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