Social housing in a new role
If previously, the social housing (NOXH) segment was mainly policy support, focusing on solving immediate housing needs, now NOXH is gradually becoming an important part of the urban development structure.
The difference of social housing in the new period is not only in the appropriate selling price, but also in the higher requirements for construction quality, synchronous infrastructure, traffic connectivity and integration with existing urban space.
Hung Yen has an advantage when it owns an urban land fund that still has room, a stable industrial foundation and the ability to connect conveniently with Hanoi and neighboring provinces. This is an important condition for developing social housing associated with existing residential areas, avoiding the situation where housing areas are separated from urban life.
According to urban planning expert Nguyen Hai Phong, social housing contributes to forming a stable residential community - an important foundation for sustainable urban development. This viewpoint was also emphasized by Dr. Dao Ngoc Nghiem - Vice Chairman of the Vietnam Urban Planning and Development Association - when he said that the nature of social housing does not lie in the name or segment, but in whether that project is placed in the overall urban planning or not.
As the real estate market enters a more stable phase, homebuyers' choices also change significantly. For many years, the price factor has been almost the only criterion when workers and young families consider social housing. However, as life gradually improves, buyers no longer only ask "can I buy it or not?", but pay more attention to "will I live for a long time or not?".
The inner-city advantage and the change of buyers
Construction quality, sustainable operation, living environment, community and especially location in urban structure are increasingly valued. This change makes the social housing market clearly differentiated. Some projects are still developing according to the old model, far from existing residential areas, lacking infrastructure and services. Conversely, some projects are invested more methodically, focusing on planning and integration into urban space.
In Hung Yen, Pho Hien Center Point (CT1 & CT2) in Hien Nam ward is considered an example of the trend of developing social housing according to urban standards. The project is located in the inner city of Pho Hien - the center of Hung Yen city, adjacent to four roads, surrounded by a densely populated residential area and urban activities have been formed stably.
Along with inner-city projects, the social housing market in Hung Yen also recorded new projects to supplement supply. In Thai Binh ward, Machino Phu Xuan Co., Ltd. has started the Machino Phu Xuan social housing project on Ly Bon street - an area with bustling urban activities. With a scale of 5.83ha, in the initial phase of the project, two social housing buildings will be deployed, providing 312 apartments, aiming for practical accommodation solutions for workers and young families in the central area.
Overall, social housing in Hung Yen is facing the opportunity to transform, from a supporting role to the position of an important supplementary segment for the local market. When placed in the right place and developed in the right way, social housing not only solves housing needs, but also contributes to retaining human resources, creating a foundation for sustainable urban development in the coming period.
