Housing Concerns in Ho Chi Minh City: Residents Seek Solutions Beyond Affluent Buyers

At a recent constituency meeting held by the Ho Chi Minh City National Assembly Delegation (Unit 9) with residents of Vĩnh Hội, Khánh Hội, Xóm Chiếu, Tân Mỹ, Tân Hưng, Tân Thuận, Phú Thuận, Nhà Bè, and Hiệp Phước wards, several voters raised key concerns ahead of the 10th Session of the 15th National Assembly on September 27th.

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The delegation includes Mr. Phan Văn Mãi, Chairman of the National Assembly’s Economic and Financial Committee and former Chairman of the Ho Chi Minh City People’s Committee; Lieutenant General Dương Văn Thăng, Deputy Chief Justice of the Supreme People’s Court; and Ms. Nguyễn Trần Phượng Trân, Secretary of the Party Committee of Tam Bình Ward.

Voter Huỳnh Thị Minh Xuân from Xóm Chiếu Ward expressed concerns about housing issues, particularly regarding condominiums, commercial housing, and social housing. Despite numerous laws, decrees, and directives issued by the government, housing prices remain high, making it unaffordable for many families, especially those with average or low incomes.

Ms. Xuân also highlighted the government’s recent initiative to allocate a VND 145 trillion credit package for social housing loans, aiming to provide housing opportunities for citizens. However, the disbursement process has been slow, and the gap between policy and reality persists, leaving citizens unsure of its practical impact.

Ho Chi Minh City residents attend the voter meeting. Photo: Ngô Tùng

“Housing should not be a privilege for the wealthy but a genuine opportunity for all citizens, especially those who contribute daily to society’s development,” Ms. Xuân emphasized.

She urged the government and relevant ministries to expedite the disbursement of the VND 145 trillion credit package, ensuring easy access to preferential loans for citizens. Additionally, she called for stricter supervision of social housing projects to prevent speculation and profiteering, ensuring homes reach those in genuine need.

Voters hope that National Assembly deputies will address issues related to condominium ownership certificates.

Voter Nguyên Văn Liêm from Khánh Hội Ward suggested that, in the short term, preferential credit policies should be maintained to support social housing loans, ensuring favorable interest rates and loan terms. These measures align with the nature of housing credit policies and cater to the needs of low-income individuals.

“These requirements are essential for effective and sustainable growth in social housing credit. The city should also promptly resolve legal obstacles in housing projects,” Mr. Liêm added.

On behalf of the delegation, Mr. Phan Văn Mãi acknowledged the significance of housing and real estate market issues as macro-level concerns with social welfare implications. As the former Chairman of the Ho Chi Minh City People’s Committee, he recognized the city’s efforts but admitted that urban housing demands and condominium-related problems remain unresolved.

Mr. Phan Văn Mãi engages with voters. Photo: Ngô Tùng

Mr. Mãi cited long-standing issues with Đức Khải and Victory condominiums, which have remained unresolved for over a decade. He pledged to discuss macro-level concerns with the Ministry of Construction and collaborate with the Ho Chi Minh City People’s Committee. Upon receiving the committee’s document regarding these specific cases, he promised to monitor progress, aiming for a resolution by September 30.

Regarding electricity prices, Mr. Phan Văn Mãi mentioned the National Assembly’s Economic and Financial Committee’s involvement in discussions with the Ministry of Industry and Trade and Vietnam Electricity (EVN). “We will closely monitor the situation and provide input to ensure a reasonable solution that considers the affordability of electricity users,” he stated.

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