The progress of social housing construction is still slow
According to data from the Ministry of Construction, related to the 120,000 billion VND credit program, there are currently 28 localities announcing a list of 68 projects eligible for loans (loan demand of more than 30,000 billion VND).
Up to this point, in 5 localities with 6 social housing projects, the capital of about 415 billion VND has been disbursed. This reality shows that the disbursement of the above 120,000 billion VND preferential credit package is still slow compared to the actual needs of businesses investing in the social housing and housing segments for workers.
It is noted that in some key localities with great demand for social housing, investment levels are still limited compared to the target.
In Ho Chi Minh City, there are 7 projects with 4,996 social housing units meeting 19%; Hanoi only has 3 projects with 1,700 social housing units, meeting 9%, or some localities have no projects starting from 2021 to now: Vinh Phuc, Nam Dinh, Ninh Binh, Quang Ngai, Long An. An…
As of July 30, 2024, the whole country has implemented 619 social housing projects with a scale of 561,816 units. In the first 6 months of 2024 alone, 8 projects were completed (4 projects fully completed, 4 projects partially completed) with a scale of 3,136 units; 5 projects were licensed to start construction with a scale of 8,468 units; 9 projects have investment policies, with a scale of 8,795 units. However, to achieve the goal of 1 million apartments by 2030, there is still a lot of work to be done.
Most recently, the Hanoi People's Committee approved 85 investment projects to build commercial housing, urban areas and 5 social housing projects. According to the list of development and investment projects to build housing and urban areas (phase 3) for the period 2021 - 2025, there are 85 investment projects to build commercial housing and 5 social housing projects .
From the actual implementation of social housing mentioned above, some expert opinions say that the progress of building 130,000 social housing units in 2024 is still very slow, if not accelerated, it will be difficult to achieve the goal.
Why are businesses not interested?
Referring to the "bottleneck" hindering the development of social housing, the leader of a construction unit analyzed that normally, from the start of the project application procedure to the end, it takes about 5 years to complete. complete and go through the 5-step process. However, the maximum profit of a social housing project according to regulations is only about 10%, this profit level is even lower than the savings interest rate. Enterprises investing in social housing encounter many problems and difficulties and will gradually lose motivation to do the next projects.
Talking to Labor, Mr. Nguyen The Diep - Vice Chairman of Hanoi Real Estate Club - said that although the development of social housing projects is being created with many favorable conditions in terms of mechanisms, policies, and resources, capital... effective legal basis system has removed many "bottlenecks". But in reality, businesses implementing social housing projects still encounter many problems in accessing land, administrative procedures in construction investment, and accessing capital from the 120,000 billion VND preferential loan package ...
To overcome difficulties, Hanoi City needs to review the 20% land fund in commercial housing projects to build social housing, work with investors to resolve backlog of commercial housing projects, if possible. Adjust apartment structure and convert to social housing.
To solve the problem of imbalance between supply and demand, it is necessary to soon form a social housing investment fund to solve the capital source, thereby forming a housing fund, helping to stabilize the market and continue to develop this type of housing.
