Nationwide Completion of 40,600 Social Housing Units
The Ministry of Construction has reported to the Prime Minister on the progress of the investment and construction of at least 1 million social housing units for the period 2021-2030. Accordingly, from 2021 up until now, the country has completed approximately 40,600 social housing units, with Bac Ninh, Hanoi, Bac Giang, Khanh Hoa, Thanh Hoa, Tay Ninh, and Binh Duong leading the way.
The completion of social housing falls short of the set target. Photo: Ngoc Mai.
Regarding the implementation of social housing projects, according to the Ministry of Construction, from 2021 until now, there are 619 social housing projects deployed nationwide with a scale of more than 560,000 units. However, only 79 social housing projects have been completed, 128 are under construction, and 412 have been approved for investment.
Notably, some localities with high demand for social housing have not had any completed projects, including Thai Nguyen, Ninh Binh, Nam Dinh, Thua Thien Hue, Vinh Long, Ben Tre, Bac Lieu, and Ca Mau.
The Ministry of Construction also reported that the total number of social housing units started and completed so far accounts for about 35.6% of the target of the project to build 1 million social housing units by 2025. The planning and allocation of land for social housing development is approximately 9,757 hectares (as of the end of August 2024). Many localities have paid attention to allocating land for social housing in favorable locations, close to urban centers and industrial parks, with technical and social infrastructure in place, such as Dong Nai with 1,064 hectares, Quang Ninh with 666 hectares, Hai Phong with 644 hectares, and Binh Duong with 408 hectares.
Slow Disbursement of the VND 120,000 Billion Package
According to the report sent to the Prime Minister, the Ministry of Construction mentioned that the preferential credit package of VND 120,000 billion for social housing development has disbursed VND 1,344 billion so far, including VND 1,295 billion for investors and VND 49 billion for home buyers.
The Ministry of Construction stated that the disbursement of the VND 1,200,000 billion credit package is slow due to the limited number of participating banks. Currently, in addition to the four state-owned banks (Vietcombank, BIDV, Vietinbank, and Agribank), only four other commercial banks (TPBank, VPBank, MBBank, and Techcombank) have joined the program.
Some investors do not meet the lending requirements, such as not having sufficient credit history or other assets to mortgage. Additionally, investors who build social housing are exempt from land use fees, which makes it challenging for them to meet the mortgage requirements.
The Ministry of Construction has proposed to the State Bank to encourage other banks to participate in this VND 120,000 billion package and consider reducing interest rates and extending the loan term.
A Powerhouse Alliance: Thai Son and Saigon Thanh Dat’s Visionary Residential Project in Quang Tri Province
As per the Quang Tri Province’s Department of Planning and Investment, the consortium of Saigon Thanh Dat Agricultural Investment JSC and Thai Son Traffic Work Construction JSC is the sole investor registered to develop the Urban Housing and Social Housing Project in the Nam Dong Ha Industrial Park.
The Government Unveils Social Housing Development Plan Following the Secretariat’s Directive
Vice Prime Minister Tran Hong Ha has signed Decision No. 927/QD-TTg, issuing a plan to implement the Secretariat’s Directive No. 34-CT/TW, dated May 24, 2024, on strengthening the Party’s leadership in developing social housing in the new situation.
The Ultimate Guide to the Upcoming 16-Storey Social Housing Project in Can Tho
The People’s Committee of Can Tho City has approved a proposal to rezone a plot of land in Thot Not District, adjacent to the city’s largest industrial park, from a workers’ residential apartment complex to a social housing apartment complex. This decision also allows for an increase in the maximum height of the building from 5 to 16 stories, offering a significant boost to the area’s housing capacity and accessibility.
“Access to Information: Empowering Individuals in Social Housing Rentals and Purchases”
When purchasing, renting, or leasing social housing directly from investors or through real estate exchanges, individuals should have access to comprehensive information. They should be able to acquire their social housing at the announced price, without any additional fees or hidden costs.
