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Update news housing development
The Government will create a project on housing development, especially for low-income earners, to tackle the supply crunch in the real estate market.
Affordable housing projects have turned into high-end projects in HCM City’s real estate market, experts said.
The Binh Quoi-Thanh Da urban area is located roughly 10 kilometres from downtown HCM City. It was planned to be a modern ecological urban area with an ecological park combining commercial centres and public areas to serve about 80,000 people.
A recent report by Batdongsan.com.vn shows that Vietnam has the highest percentage of people planning to buy a house in Southeast Asia.
Vice-Chairman of Hanoi People’s Committee Duong Duc Tuan has just approved a plan on renovating and rebuilding old apartment buildings in the capital.
Vietnam is looking to increase the average housing floor area per person to 27sq.m by 2025, aiming for 28sq.m in urban areas, and 26sq.m in rural areas.
One of the most important hurdles to restoring the economy after the COVID-19 pandemic is further investment in social housing development, especially for workers in industrial zones, according to the Ministry of Construction.
The chairman of the HCM City People’s Committee, Phan Van Mai, said the city plans to build one million units of affordable housing for low-income workers.
HCM City is formulating a plan to develop one million low-cost homes for workers and low-income people, said city chairman Phan Van Mai.
VietNamNet Bridge – Of over 4,000 licensed housing development projects throughout the country, 287 have been canceled because the investors could not mobilize enough capital.
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