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HCMC Should Develop Social Housing For Rent

Social Housing

With the existing land fund, HCMC should develop social housing for rent will fit the actual needs and needs of workers.

You can read more information at Vietnam Real Estate Market

On the afternoon of 21 February, Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association – HoREA said, has sent a proposal to the Standing Committee of Ho Chi Minh City and the Standing Committee of Ho Chi Minh City proposed mechanisms, social housing development policy, affordable commercial housing in accordance with practical conditions.

According to HoREA, the current population of HCMC is nearly 13 million, of which nearly 3 million are immigrants. A survey by the HCM City Department of Construction, the Ho Chi Minh City Institute for Development Studies shows that about 500,000 households have no house and more than 81,000 families need social housing between 2016 and 2020.

Social Housing
HCMC should develop social housing for rent rather than selling for VND100-200 million per unit

The plan to develop the social housing of the Department of Construction from now to 2020, Ho Chi Minh City will have 39 projects with a scale of 45,000 apartments. It is expected to complete 30,000 units by 2020. Of these, 20% is for rent, 60% is for long-term sale, and 20% is for commercial investors to offset the cost.

In addition, real estate firms have shifted their investment in the affordable housing segment, priced from VND700 million to VND1 billion, to supply the market with around 100,000 social housing and affordable housing.

In 2017, Ho Chi Minh City will complete four social housing projects with a total of 1,654 apartments in the Hanh Phuc apartment building, Tan Binh Ward, 35 Ho Hoc Lai apartment blocks in Binh Tan district, Family house of cadre of Military Region 7 cadres in District 12.

About the ability to implement a 30sqm apartment, HoREA said that HCM City can still make 30sqm social apartment with price from VND100-200 million / unit in some areas with similar conditions:  Binh Duong province and available transportation infrastructure.

At the same time, near industrial parks, workplaces and other basic facilities such as schools, kindergartens, kindergartens, hospitals, amusement parks, physical training and sports and parks. Specifically, HCMC can be built at social housing in Linh Trung I, II, III Export Processing Zone, High Tech Park, Quang Trung Software Park, Vietnam National University.

Social Housing
illustration

Particularly, Hiep Phuoc seaport industrial zone has favorable conditions on the land fund. However, due to the weak land base, infrastructure system and services are not fully developed so the investment cost of this type of house will be higher. Tan Thuan Export Processing Zone has also adjusted the planning and assigned Sadeco Company to develop a social housing project to serve the workers and laborers of the export processing zone.

HoREA calculates, with the land fund above can do about 10,000 apartments 30m2 social housing prices from 100-200 million per unit and only 10,000 people buy this type of housing, accounting for about 1% of people have. need.

“As such, most workers and migrants will no longer have this type of house to buy, so there is no social justice and there is not enough social demand. In high technology zones, they need to develop more social housing for rent is appropriate to the actual needs and the next class of workers, “said Chau.

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HCMC Should Develop Social Housing For Rent
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