Many unaware of social housing policy

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Many unaware of social housing policy

Saigon Times - 8/15/2016 8:25:07 AM

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Only 7.6% of more than 2,000 people surveyed are aware of the Government’s preferential policy for social housing projects, says a report by the HCMC Institute for Development Studies.

The report said as high as 92.4% of people eligible to participate in social housing projects know nothing about their benefits. They said they do not have much information about such projects and that it takes a lot of time to register for buying social homes due to complicated procedures.

In addition, they are required to prove monthly income of VND9 million (US$403.6) or less but that income is not enough for them to pay by installment for a social house, the report said.

In the next five years, over 80,000 households will need to buy homes in social housing projects, including 38,200 poor and near-poor families, 17,100 factory workers, 10,000 civil servants, 6,000 households affected by development projects.

Most respondents said they expect social houses to cost VND792.6 million per unit for a one-off payment while the price is anticipated to stay at VND3.7 million per month for installment payment plans and VND920,000 per month for renting. Social apartments of 40-60 square meters are most favored.

The HCMC government has approved a plan to develop 51 social housing projects with nearly 48,590 apartment units on a combined 150.9 hectares. Of the total, the Department of Construction said 12 projects with nearly 3,890 apartment units have been finished and the rest will be put into use in 2016-2020.

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20/07	Vietnam's realty conglomerate Bitexco raises stake in hotel chain
20/07	Housing market imbalance emerges
11/07	Big real estate developers eyeing hotels
11/07	Việt Nam needs more affordable housing

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