This is the data summarized in a recent report by the Ministry of Construction. Although the Government's target was not met, social housing development still made certain progress compared to 2023.
This is the data summarized in a recent report by the Ministry of Construction. Although the Government's target was not met, social housing development still made certain progress compared to 2023.
According to the announcement from the Ministry of Construction, in the fourth quarter of 2024, the country recorded 15 social housing projects, equivalent to a scale of 10,235 units, being implemented. Of these, 12 projects have been completed with a scale of 6,397 units. The remaining three projects have been licensed and started construction with a scale of 3,838 units.
In summary, in the past year, the whole country had 28 projects with a scale of 20,284 completed units, an increase of about 46% compared to 2023. However, compared to the target of building 130,000 social housing units set by the Government, the whole country has only achieved 15.6% of the plan in 2024.
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| The shortage of supply has caused many social housing areas to increase in price over the past year. Photo: Thanh Vu |
The Ministry of Construction's report also said that last year, 23 projects with a scale of 25,399 units were licensed and started construction, an increase of about 13% compared to 2023. The number of projects approved for investment policy was 113 projects, equivalent to 142,450 units, an increase of about 101% compared to the previous year.
Thus, from 2021 to present, nationwide, 645 social housing projects have been implemented with a scale of 581,218 units. Of which, 96 projects have been completed with a scale of 57,652 units. At the same time, 135 projects have started construction with a scale of 115,630 units. The number of projects approved for investment policy is 414 projects, corresponding to 407,936 units.
Regarding the implementation of the VND120,000 billion credit package, banks have disbursed VND2,162 billion to investors in 17 projects. In addition, home buyers in 15 projects have borrowed VND198 billion.
Social housing development is showing signs of accelerating in 2025. This is clearly demonstrated through the number of projects that localities have registered to complete. In 2024, this number was only 108 projects, equivalent to 47,532 apartments. This year, the scale has been increased to 135 projects, with nearly 101,900 apartments.
According to Ms. Pham Thi Mien, Deputy Head of Market Research and Investment Promotion and Consulting Department of the Vietnam Association of Realtors (VARS), the supply of social housing is expected to improve significantly in 2025.
“The new law has opened up many bright spots in social housing investment and development. For example, current regulations allow manufacturing enterprises in industrial parks to rent out workers’ accommodation to arrange for employees to rent out,” the VARS expert cited.
In addition to expanding the subjects eligible to buy social housing, the 2023 Housing Law also adds entities allowed to participate in project development. This regulation will encourage more economic sectors to participate in social housing development.
“In addition to the maximum profit of 10%, project investors can also receive additional profits from the area of business, commercial services, and commercial housing - accounting for 20% of the project development area,” Ms. Pham Thi Mien added.
Source: https://baodautu.vn/batdongsan/20284-can-nha-o-xa-hoi-duoc-hoan-thanh-trong-nam-2024-d244388.html
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