To implement the plan on developing at least 1 million social housing apartments for low income earners and factory workers in the 2021-2030 period, many cities and provinces have announced plans to develop this kind of accommodation.

As of May 2023, as many as 307 social housing projects had been completed, providing 157,100 apartments. Meanwhile, 418 other projects are still under execution with 432,400 apartments.

In the north, social housing projects under construction are mostly located in Hanoi (18 projects, 12,137 apartments), Bac Ninh (23 projects, 28,808 apartments), and Bac Giang (11 projects, 27,792 apartments).

In the south, Binh Duong is leading in the number of projects (20 projects, 17,500 apartments). There are 13 projects in Dong Nai with 10,750 apartments, nine projects in HCM City with 6,383 apartments and eight projects in Binh Thuan.

Home prices in HCM City sky high

A recent report released by Urban Land Institute (ULI) showed that in Asia Pacific, Singapore has surpassed Hong Kong (China) as the place with the highest home prices in the region.

Though average home prices and average rent prices in Singapore are among the highest in the region, the home ownership ratio in the country is also the highest, 89.3 percent. Meanwhile, average home prices in HCMC and Da Nang are 32.5 and 26.7 times higher than the average annual income of households.

Binh Duong: a burning issue

Since the beginning of the year, five commercial housing projects (2,070 apartments) in Binh Duong province have met requirements. 

No social housing project or housing for factory workers, however, has mobilized capital. 

In 2016-2021, Binh Duong reserved 203.5 hectares to develop social housing. Of 13 large-scale commercial housing with over 10 hectares, two projects in Ben Cat did not reserve enough land for social housing. 

Foreigners buy 1,600 apartments in Binh Duong

As of May 2023, in Binh Duong province, 40 commercial housing projects, including projects allowed to sell to foreign institutions and individuals, have been developed.

Of the total 6,000 houses sold to foreigners, only 1,623 houses have been sold or given as presents to foreigners, of which 480 have been granted certificates.

Tay Ninh planned to develop 3,800 social housing products

There is only one social housing project developed with non-budget capital – Golden City project in Tay Ninh City, with 1,624 apartments.

Besides 26,000 commercial products, Tay Ninh planned to develop 3,800 social housing products and 2,000 products for resettlement.

Hong Khanh