Do Huu Hung - Deputy Director of the Hai Phong Department of Construction - has just informed the press about the announcement of the new rental price framework for social housing invested in and built without public investment capital and trade union financial resources from 2025 according to Decision No. 4708/QD-UBND of the Hai Phong City People's Committee dated December 13, 2024.
Accordingly, the price framework is applied to organizations and individuals participating in investing in the construction of social housing (NOXH) that do not use public investment capital or trade union financial resources in Hai Phong city; Subjects eligible to rent social housing in Hai Phong city; State management agencies, organizations and individuals related to social housing management in Hai Phong city.
The social housing rental price framework is issued as a basis for investors of social housing projects to announce social housing rental prices at the project, and negotiate social housing rental prices with tenants.
The social housing rental price framework is issued in 2 types: Social housing is an apartment building with less than 35 floors and social housing is a 1-storey individual house built by individuals (currently in Hai Phong this type has not been developed).
According to Mr. Do Huu Hung, the Hai Phong Department of Construction advised the City People's Committee to hire an independent consulting unit to calculate the rental price based on correct and sufficient collection. Previously, the applied price of 10,000 VND/m2 was not enough to reinvest in renovation and repair. To support households renting houses, the People's Committee of Hai Phong City has set a roadmap to gradually increase over the years.
However, the new price when applied has caused many opposing opinions from people living in these apartments because they think it is too high compared to the income of many people. According to the people, those who have lived in old apartments (later rebuilt by the city) have lived there for many years, many people have low incomes, so when the city applied the 10 year increase roadmap, the monthly rent increased many times, from 3 - 5 million VND/month, which is too high compared to the income of many households.
Responding to this, Deputy Director of the Hai Phong Department of Construction Do Huu Hung said that to support policy beneficiaries and poor households, the Hai Phong City People's Council has passed Resolution No. 25/2024/NQ-HDND on supporting social housing rental in the area. Accordingly, for policy households and meritorious people, the rent will be supported from 65 - 100% depending on the subject. For poor households, near-poor households and social protection beneficiaries, 60% of the rental fee will be supported.
According to the issued price framework, apartments under 5 floors have a minimum rental price of VND 32,300/m2/month, maximum price of VND 71,600/m2/month; Apartments from the 6th floor to the 35th floor have a minimum price from VND 41,600 to VND 63,900/m2/month, maximum price from VND 84,000 - 121,900/m2/month depending on the type of apartment with the corresponding number of floors. 5 social housing projects including Lac Vien 3 General warehouse area, Trang Due, 384 Le Thanh Tong, 39 Luong Khanh Thien and An Dong have rental rates from 59,000 VND to 105,000 VND/m2/month.
