3 social housing projects selling apartments for rent after 5 years
According to Lao Dong's research, from the end of 2024 to now, Hanoi has 3 social housing projects eligible to sell apartments for rent after 5 years: Social housing project at lot N01, N02, N03, N04 and N06 Dang Xa 2 new urban area in Gia Lam district (building D15, D16); CT2A high-rise social housing project in Thach Ban residential area, Long Bien district; Phu Lam social housing project, Phu Lam ward, Ha Dong district.
The social housing project on land lots N01, N02, N03, N04 and N06 of Dang Xa 2 new urban area in Gia Lam district (buildings D15, D16) has the investor being Viglacera Corporation.
In this project, the number of social housing apartments converted from rent to sell (after 5 years of lease) is 270 apartments in buildings D15, D16 (apartment area from 44.75m2 to 69.38m2). Of which, the number of customers who have signed the first apartment purchase contract (after 5 years of lease) is 214 units; the number of customers who have signed the second apartment purchase contract (after 5 years of lease) is 32 units.
In this third sale, there are 3 rental houses that are eligible for sale with an area of nearly 45-69m2. The selling price of these apartments (including value added tax and maintenance costs) is 7.6 million VND/m2.
The CT2A high-rise social housing project in Thach Ban residential area, Long Bien district has the investor being the Housing and Urban Development Investment Corporation of the Ministry of National Defense. In this period, the number of apartments for sale after 5 years of lease is 82 with apartment areas from 69.03m2 - 69.94m2. The estimated selling price (including 5% VAT, excluding 2% maintenance cost) is about 12.3 million VND/m2.
The Phu Lam Social Housing Project, Phu Lam Ward, Ha Dong District has the investor being Hai Phat Investment Joint Stock Company. In this period, the number of social housing units for rent and sale is 408 apartments (apartment area from 48m2 to 69m2). The estimated selling price (excluding 5% VAT and 2% maintenance fee) is more than 13.6 million VND/m2.
For all 3 projects, the eligible subjects to submit home purchase documents are customers renting social housing in projects that have met the 5-year lease term according to regulations.
Who is allowed to rent social housing?
Pursuant to Clause 22, Article 2 of the Housing Law 2023, social housing lease is the purchase of a social housing purchase by the lessee in advance paying the lessor to buy a certain percentage of the rental housing value according to the agreement but not exceeding 50% of the value of the house purchase lease contract. The remaining amount is calculated as the rental fee to be paid monthly to the lessor for a certain period of time as agreed by the parties. After the lease term for the house is expired and the remaining amount has been paid, the lessee will have ownership of the house.
Referring to the provisions of Clauses 1, 4, 5, 6, 8, 9 and 10, Article 76 of the 2023 Housing Law, the following subjects are allowed to rent social housing:
- People with revolutionary contributions, relatives of martyrs who are eligible for housing improvement support according to the provisions of the Ordinance on Incentives for People with Revolutionary contributions.
- Poor and near-poor households in urban areas.
- Low-income people in urban areas.
- Workers and laborers working at enterprises, cooperatives, and cooperative unions inside and outside industrial parks.
- Cadres, civil servants, and public employees according to the provisions of law on cadres, civil servants, and public employees.
- Subjects who have returned public housing as prescribed in Clause 4, Article 125 of the 2023 Housing Law, except for cases where public housing is revoked due to violation of the 2023 Housing Law.
- Households and individuals whose land is recovered and whose houses must be cleared or demolished according to the provisions of law and have not been compensated by the State with houses and residential land.
