Vietnam needs cheaper social housing

Viet Nam needs to raise policies and solutions to hasten housing development for low-income earners in urban areas and industrial zones in an effort to improve their living standards.

Vietnam needs cheaper social housing

Social housing buildings at Gia Lam District's Dang Xa Commune — VNA/VNS Photo Tuan Anh

The labour confederation's statistics revealed at a Thursday conference that only 20 per cent of workers had stable accommodation. A large number of workers now live in rented accommodation in the slums which has an effect on their health as well as the efficiency levels.

Vu Hong Quang from the Viet Nam General Confederation of Labour, said that during the development of industrial zones adequate attention had not been paid to developing houses, schools and recreational parks for low-income earners.

Although the government had already raised policies for housing development for low-income earners, many proved to be inappropriate in reality and needed to be amended. This was in addition to complicated procedures, which resulted in stagnant implementation.

Nguyen Van Duc, deputy director of Dat Lanh Real Estate Company, said that developing housing projects for the poor was not appealing enough for investors due to the complicated procedures and unattractive profits.

Tran Ngoc Hung, chairman of the Viet Nam Federation of Civil Engineering Association, said the housing demand for low-income earners was estimated at 1 million units by 2020 while currently only 10,000 units were supplied each year.

Hung said that due to the limited supply of apartments for low-income earners, the prices remained high, ranging between VND500 million (US$22,330) and VND1 billion ($44,660) per unit. With an average income of VND5 million ($225) per month, it would be difficult for a worker to afford a house.

Hung said that there should be greater incentives in funding and land to encourage investors to develop low-priced housing projects for rent and for hire-purchase plan.

The government should manage planning of social housing projects and let pricing be decided by the market, Hung said.

Investors of commercial housing projects should spare land to develop low-priced, smaller apartments, experts at the conference said./.

Source: VNS

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