Waiting to quench the thirst for social housing

Many social housing projects completed or started this year are positive signs.

While drinking coffee and surfing the phone to read real estate news, Ms. Hoang Thu Hang (living in District 12, Ho Chi Minh City) repeatedly exclaimed, admitting that she was lucky and made the right decision.

The dream of many people

Since 2012, after getting married, Hang and her husband have rented a house in Go Vap District, Ho Chi Minh City. Their life is not abundant because the cost of living, raising children, paying rent… is equivalent to their income. The dream of having a place to live has never stopped burning in their hearts.

Ms. Hang's husband is a civil servant. In 2017, he told his wife that there was a social housing project in District 12 and that he wanted to register to buy it but was still hesitant. She immediately convinced him to buy it, calculating that she would spend frugally and ask both her parents...

After much consideration, they finally agreed and the small family moved to a new place to live from 2019 until now.

"Back then, our apartment of a few dozen square meters cost several hundred million dong. But if we invested that amount of money now, we wouldn't be able to buy a corner of the kitchen in an apartment building today," said Ms. Hang. According to her, many of her friends live and work in Ho Chi Minh City, but for many years have been hoping to have a stable place to live like her, but have not been able to.

According to the reporter's research, from the second half of 2024, the average price of new apartments in Hanoi is 69 million VND/m2, in Ho Chi Minh City is 68 million VND/m2. Regarding social housing in Ho Chi Minh City, depending on the area, old or new project, the price fluctuates from 20 - 35 million VND/m2.

Workers' accommodation project in Thu Duc City, Ho Chi Minh City. Photo: QUOC ANH

For example, the project currently open for sale in Binh Chanh district is Le Thanh Tan Kien with prices ranging from 22 to 24 million VND/m2 - a 35 m2 apartment costs around 800 million VND. This is a social housing project for 49-year lease, buyers only need to pay 200 million VND in advance, the rest is paid in installments.

Projects near the center are more expensive, such as in Thu Duc City, but still only 35 million VND/m2 and many people still want to own one even if it is more expensive. Mr. H., living in the Thu Thiem Sky project, Thao Dien area (Thu Duc City), said that he previously bought a 1-bedroom social housing house of more than 30 m2 for only 600 million VND. Until now, although he is still living there, someone has asked to buy it for up to 3 billion VND.

Hope

The high price of apartments has made the need for social housing more urgent for many low and average income earners. Recognizing this situation, the authorities have made efforts to resolve it. However, the results achieved so far have not been commensurate with expectations.

In 2024, Ho Chi Minh City will put into use 5 social housing projects with a scale of 2,377 units; 1 worker accommodation project (phase 1) with 368 units. Currently, there are 4 projects with 2,874 units under construction, including 3 social housing projects and 1 worker accommodation project.

Broadly speaking, this is also the result from the beginning of the term (2021) until now. This result is still modest compared to the target of the period 2021 - 2025. Because, according to the housing development program of Ho Chi Minh City in the period 2021 - 2030 and the Government's project on investing in the construction of at least 1 million social houses for low-income people and industrial park workers, in the period 2021 - 2030, Ho Chi Minh City plans to develop about 69,700 - 93,000 units, and in the period 2021 - 2025 from 26,200 to 35,000 units.

A noteworthy information, according to the Department of Construction of Ho Chi Minh City, in 2025, it is expected that 4 projects will be completed with a scale of 2,874 apartments and 8 projects will start construction with a scale of 7,945 apartments.

Identify the problem to solve

The Ho Chi Minh City Department of Construction has reviewed and compiled reports from investors on the implementation of the obligation to reserve 20% of residential land area in commercial housing projects and urban development investment projects with a land use scale of over 10 hectares for the construction of social housing.

The Department has also recommended that the Ho Chi Minh City People's Committee resolve difficulties for projects at many thematic meetings on social housing to ensure the implementation of social housing development targets.

Specifically, the four projects expected to be completed are the social housing area - commercial housing area at the old Binh Phu market land, District 6 (764 social housing units); the social housing project at 324 Ly Thuong Kiet, District 10 (1,254 units); the residential area project in Long Truong ward, Thu Duc city (558 units); and the workers' accommodation in Thanh My Loi ward, Thu Duc city (phase 2 with 672 units).

With 8 projects, the total number of apartments is over 7,000, expected to start construction in Thu Duc City, District 7, District 12, Binh Thanh District, Binh Tan District, Binh Chanh District. Of which, 3 projects use public investment capital (over 3,700 billion VND).

Regarding future social housing, according to the Ho Chi Minh City Department of Construction, to be approved, it is necessary to ensure the conditions according to the provisions of the Law on Real Estate Business, the Law on Housing and each project is considered specifically. The Department of Construction will provide information on projects eligible to sell future housing on the department's electronic information portal.

Recently, the Ho Chi Minh City Department of Construction has issued 4 notices confirming the eligibility to mobilize capital for future housing products of 4 projects including 1,611 houses, including 678 apartments and 44 low-rise houses, with a total floor area of ​​over 189,100 m2.

The above signals show that the picture of social housing in Ho Chi Minh City is gradually brightening…

Source: https://nld.com.vn/cho-giai-con-khat-nha-o-xa-hoi-196250116213730528.htm