The Hanoi Department of Construction recently informed about the receipt of applications for purchasing social housing at the CT2A high-rise apartment project - Thach Ban residential area, Long Bien district after 5 years of lease (phase 1) with a total of 82 apartments, area from 69.03 - 69.94 m2.
The estimated selling price (including 5% value-added tax (VAT), excluding 2% maintenance cost) is about 12.3 million VND/m2.
In addition to the above project, in the social housing project on land lots NO1, N02, N03, N04 and N06 of Dang Xa 2 and Gia Lam new urban areas (building D15, D16), there are continued to 270 social housing apartments converted from rent to sell, with areas ranging from 44.75-69.38m2.
The selling price (including VAT and maintenance costs) is 7.6 million VND/m2.
According to the Hanoi Department of Construction, in order to meet the demand for social housing, since 2020, the City People's Committee has issued a housing development plan for the period 2021-2025. In which, the new development target of about 1.215 million m2 of social housing floors was determined.
The Hanoi People's Committee also requests the Departments, branches, and sectors; People's Committees of districts, towns, and cities, according to their assigned functions and tasks, to study and implement the Prime Minister's direction in Official Dispatch No. 130/CD-TTg dated December 10, 2024, based on the practical situation in the city, to focus on directing and promptly removing difficulties and obstacles to promote the implementation of social housing projects.
Mr. Mac Dinh Minh - Deputy Director of the Hanoi Department of Construction - added that in the first months of 2025, a number of new social housing projects will be started in Hanoi.
Notably, some groups of social housing projects are still stuck, the unit has promptly resolved them, and it is expected that in the first quarter of 2025, 3-5 projects will start construction, meeting the housing needs of the people of the capital.
After many years of scarcity of housing projects, from 2025, the Hanoi market is expected to welcome an abundant supply of apartments and social housing. According to real estate consulting firm Savills, there will be about 25,200 apartments on the market in 2025.
Of which, 70% of the market share comes from large urban projects with the B-class segment mainly occupied. From 2026 onwards, about 70,000 apartments from 91 projects will be opened for sale. Most of the primary supply comes from suburban areas of Hanoi such as Dong Anh, Hoai Duc, Hoang Mai.
