Accordingly, the social housing project in Uy No commune, Dong Anh district, Hanoi has recently been officially started by the investor. The project has a scale of 4 blocks of 9-storey buildings, expected to provide the market with 466 apartments with areas ranging from 40-77m2.
Previously, in early December, the social housing project in Ha Dinh Urban Area, Tan Trieu Commune, Thanh Tri District also started construction. It is expected to provide 440 social housing apartments for people with average and low incomes. According to the plan, the project will be constructed within 30 months.
Previously, the Hanoi Department of Construction granted a construction permit to the consortium of Him Lam Thu Do JSC and BIC Vietnam JSC to build the CT1 high-rise apartment building in the Thuong Thanh social housing project and connect to regional infrastructure, Long Bien district.
Hanoi Department of Construction said that from now until next year, Hanoi has 11 social housing projects expected to be completed with nearly 6,000 apartments. In the 2026-2030 period, there are 50 projects expected to be implemented with nearly 57,200 apartments. Of which, the city is appraising investment policies for 4 out of 5 independent social housing areas concentrated in Dong Anh, Gia Lam, and Me Linh districts. The projects have a total area of over 200 hectares, providing more than 12,000 apartments for people.
In 2024, apartment prices in Hanoi will continue to increase. The average price of primary products is about 60-120 million VND/m2. Most of the new projects launched on the market today are in the mid-high-end segment, lacking products in the mid-range and affordable segments.
It can be seen that the imbalance between supply and demand is a major concern when the supply is mainly focused on the high-end housing segment, while affordable apartments suitable for the majority of people's income are almost non-existent. This not only causes a shortage of affordable housing, but also pushes real estate prices up, beyond the affordability of many people, especially middle- and low-income workers.
Therefore, housing prices and housing for middle-income and low-income people are becoming hot issues. The commencement of new social housing projects is expected to help reduce the imbalance between supply and demand in the real estate market.
Assessing the implementation of social housing in recent times, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association - said that in the past, the implementation of social housing projects faced many difficulties and obstacles. Currently, the issues of procedures, output and capital have almost been "untied" by legal regulations.
However, he said there are still some problems such as high interest rates causing concern, especially for home buyers. The output factor needs to pay more attention to policy beneficiaries, meritorious people, workers in industrial zones...
To effectively implement social housing, according to Mr. Dinh, the leading role in building social housing still lies with the State agencies, especially the need to arrange land, capital, and development funds, and cannot wait for cheap capital from credit. Mr. Dinh also said that the State also needs to simplify the implementation procedures.
