Nearly 500,000 Households Have No Housing In Ho Chi Minh City

The latest statistics show that in Ho Chi Minh City, 23.46% of households still have no house or are living with their parents or relatives.

The specific number of 476,158 households is not yet home to a total of 2,029,202 households across the city.

Among the households without housing, the vast majority of the 300,000 migrant households, followed by 156,000 low-income households, are affected by urban refurbishment projects which are not sufficient. Money to buy commercial housing, about 20,000 households civil servants are not home.

According to a report on the results of social housing development was submitted to the HCM City People’s Committee on June 27, from 2006 to 2016 the city government has approved policies for 56 social housing projects With about 48,000 units and so far only about 14 projects have been completed with 5,146 units, including 6 social housing projects with state budget funds and 8 off-budget projects.

The City’s Department of Construction said that in 2017 alone, 12 more social housing projects will be started with about 9,500 units, 2018-2020 projects will commence with another 16 projects. 28,500 units. These projects use both budget and non-budgetary capital through policies to attract investment in urban refurbishment, relocation of houses along canals, encouraging investors to participate in building social housing.

The Department of Construction said that in the past five years, thanks to the regulations on conditions for enjoying the social welfare policy was expanded, with preferential capital (30,000 billion package) has attracted some investors Private participation in the construction of social housing. However, these projects have not yet met the huge housing demand for the people.

Restricted by the Department of Construction pointed out that the type of social housing is not diversified, the type of apartment area of ​​25 – 30 square meters selling price of 300-400 million per unit less, long-term capital to support the owners. Unstable investment, compensation for clearance of social housing projects is prolonged, the progress of many projects is slow, not even deployed, investment procedures social housing projects are still complex.

At present, there are 476,158 households have no housesing a total of 2,029,202 households in the city

To accelerate social housing projects in the future, the Department of Construction proposes improvements to shorten investment procedures, address the difficulties encountered in social housing projects, supplies the City Housing Development Fund to invest in the development of social housing and solves the policy households to borrow money to buy social housing.

Recently, the main concern of both investors and the public is how can reduce the price of social housing to the lowest without reducing the area of ​​ apartments and ensure convenient Useful as commercial housing.

Investors think that HCM City needs to accept commercial apartments with an area of ​​20-30 sqm for low-income and workers in the coastal areas, industrial parks, universities. Accordingly, the city authorities need to strengthen the tectonics, help infrastructure investment, land funds, administrative procedures … will decide 70% successful, the remaining 30% business action by using the object advanced and reducing product cost.

A list of social housing projects is expected to be implemented in HCMC in 2017

Projects include:

• Low-income housing in Hanh Phuc residential area (Binh Hung commune, Binh Chanh district): 22 storeys high with 672 apartments.
• Social house complex (Ward 15, Tan Binh District): 12 floors with 168 apartments.
• Project 35 Ho Hoc Lam (Binh Tan District): 15 floors high; Including 718 apartments.
• The housing project of the armed forces cadres of Military Zone 7 (Tan Chanh Hiep Ward, District 12): 15 storeys high with 96 apartments.

Social housing projects will help many low income people to own a dream home

The subjects are allowed to buy houses include:

• Officials, civil servants and employees salaried from the State Budget
• Officials of public service delivery agencies
• Officers and professional servicemen of the people’s armed forces
• Employees of non-public non-business units, enterprises of various economic sectors and cooperatives established and operating under the provisions of law.
• Self-employed and self-employed workers with guaranteed incomes to pay for house purchase in accordance with regulations

Previously, the city has also kicked off three social housing projects with the scale of 1,748 including 49/52 Binh Thoi Apartment (District 11), District 10 Apartment at 324 Ly Thuong Kiet Street and East Social Housing Tang Long (District 9).

See more: Vietnam Real Estate Report