Should I buy social housing?

In many large cities, social housing has become the most popular segment due to its low price, prime location and good quality.

Social housing also has many advantages such as: This is an apartment segment that is very suitable for low-income households because it is subsidized by the State.

Social housing is equipped with education systems, entertainment areas and full amenities. Construction time of social housing projects is usually relatively fast. Residents are soon handed over their houses and stabilize their lives.

Besides the advantages, social housing still has many limitations, forcing buyers to research carefully before deciding whether to buy social housing or not.

Here are some things to keep in mind when you want to buy social housing:

Many social housing projects are often located quite far from the center. Traffic locations are often not very convenient, and service quality is not guaranteed.

Amenities and furniture in social housing will not be as modern and high quality as landed properties or other mid-range and high-end apartments.

Except in the case of borrowing capital to buy social housing, buyers will not be able to mortgage foreign banks.

Should I buy social housing? - 1 — Social housing has many advantages, but not everyone can buy it. (Illustration photo)

If you want to transfer, you must transfer to the right person with the right qualifications.

Only households that are part of the state's policy or are poor are allowed to buy social housing.

The procedure for buying social housing will be relatively complicated and does not require many other complicated documents. In particular, you will not have the right to transfer or resell the difference like commercial apartments.

In addition, to be able to rent or buy social housing from the above-mentioned people, the following conditions must be met: The average monthly income of households must not exceed 5 times the total monthly social housing rent - for apartments with a maximum floor area of 70m2 and must not be lower than 4 times the monthly rent - for apartments with a minimum area of 30m2 calculated according to the rental price prescribed by the Provincial People's Committee.

Although they own a house, the average area per person in the family is less than 8m² of floor space/person or the temporary house is damaged and dilapidated.

People renting or buying social housing must never have owned a house and must never have rented or bought a house owned by the State.

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