Some 10,000 low-priced apartments being completed in Hanoi centre in 2022.
According to the Hanoi Construction Department, many social housing projects will be built and offered for sale in the first half of this year.
In Hoai Duc District, the HUD Corporation is constructing the Van Canh Building with 463 apartments. BIC and Him Lam companies are developing three 22-storey buildings with 1,900 apartments in Long Bien District.
The Hoa Binh Company has also announced that they were conducting some social housing projects at 393 Linh Nam Street, and 321 Vinh Hung Street in Hoang Mai District. The company is expected to complete 10,000 apartments in these projects this year.
According to a representative at Hoa Binh Company, apartments at social housing projects will have prices of between VND17-18 million per square metre.
"Apartments in these social housing projects will be based on one-bedroom apartments with an area of 31 square metres, two-bedroom apartments with an area of 52 square metres and three-bedroom apartments with an area of 69.8 square metres," the company said. "Buyers must be permanent residents of Hanoi who have low income, do not have a house or have a house of below 15 square metres."
A survey carried out by the Ministry of Construction showed that demand for low-priced housing now accounts for up to 70-80 percent of the market in Vietnam. Meanwhile, the number of affordable housing projects has sharply decreased over the last 10 years.
Minister of Construction Nguyen Thanh Nghi said that by the end of 2021, a total of 266 urban social housing projects had been completed in the National Housing Development Plan.
"An additional 278 such projects will be carried out in the coming time, including 121 projects with 54,000 apartments for workers in industrial areas and some 100 projects with 134,000 apartments for other workers," the minister said.
