>> Low income housing policy may soon change
>> Rampant fraud in low-income housing
>> More low-income housing in Hanoi
Hanoi authorities are seeking ways to reduce prices of low-income houses.
 |
| Dang Xa low-income housing project in Gia Lam |
The municipal People’s Committee on September 7 worked with local agencies to discuss measures to improve affordability.
High prices for low-income houses
At the meeting, Deputy Director of the Hanoi Construction Department Nguyen Quoc Tuan said the city had licensed 11 low-income housing projects which will provide 11,714 apartments capable of housing 41,645 people.
However, the prices of the apartments continue to remain beyond the reach of many, ranging from VND11 million (USD528.84) to over VND13 million (USD625) per square metre. Only one project based in Ngo Thi Nham Street, Ha Dong District is offering apartments at VND10 million (USD480.76) per square metre.
Demand for low-income housing in Hanoi is huge, but people are not in a position to buy new accommodation at the current prices.
Deputy Head of the Housing and Real Estate Management Department of the Ministry of Construction Nguyen Trong Ninh said that many people could not afford to buy the earmarked accommodation, particularly apartments of more than 70 square metres.
According to Nguyen Thi Ha Ninh, Director of the Hanoi Finance Department, prices of low-income apartments lack transparency. She added “When handing over the dossier to buy the houses, people must be informed of the fees included in the money they have to pay.”
Cost effective
Deputy Director of the municipal Department of Planning and Architecture Nguyen Manh Tien said the city needed to apply simple housing models to reduce design and construction costs.
He suggested that the area of low-income houses should be smaller, prioritising the construction of apartments covering less than 70 square metres.
Vice Chairman of the Hanoi People’s Committee Nguyen Van Khoi said the city had approved low-income projects based on price valuations at the time the projects were implemented. In the coming time, the city would urge investors to make public all construction fees.
