>> New legislation attributed to Hanoi\'s sluggish realty market
>> Social housing in Hanoi up for sale
226 fortunate low-income bidders were among those selected in a “lucky draw” which 501 people participated in to become buyers of low-income housing in Hanoi.
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| Representatives from concerned agencies picking up lots at random |
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| Lucky people signing papers to receive their apartments |
The information was made public by Nguyen Van Da, Deputy General Director of Vinaconex Xuan Mai Concrete and Construction Joint-stock company which is the investor of CT1 apartment block project for low-income earners.
He said some “lucky” people will get the apartments in CT1 block located at Ngo Thi Nham Street, Ha Dong District, Hanoi, before the 2011 Lunar New Year.
These people had to meet all the city’s requirements to buy low-priced houses. These included not yet owning a house or owning a house which is narrow, less than 5 square metres per person and they must also hold temporary or permanent residence in Hanoi.
501 people put their ballots in a box. After that representatives from concerned agencies picked out 226 among those at random and announced them as hundreds watched.
Bui Huu Thuong, who registered for permanent residence in Van Quan Ward in Ha Dong District, was the first in the list announced and said with joy that, for over five years living in Hanoi, five people in his family had to live in a hired room of over 30 square metres.
“I did not think that I could own an apartment in Hanoi because my family’s total income is just around VND6 million (USD300) per month. With the price being offered at VND600 million (USD 30,000) for an apartment on Ngo Thi Nham Street, I can now afford it,” Thuong shared.
Some people felt so happy that they burst into tears when their names were called. Mrs. Vu Thi Tuyet said eight members in her family had to live in a 35-square metre house for 40 years. Due to the difficult housing condition, her younger brother does not dare to get married and is still single although he is now 40 years old.
Mr. Da said owners have to pay 75% of the total value of their apartment. Service fees of the apartments will be applied at the lowest among the current levels.
He also noted that the owners are not allowed to sell their houses until after ten years time since when they sign the contracts with the investor. “Anyone who sells or leases the apartments will be strictly punished and even have ownership rights recalled,” he elaborated.
The price is VND8.8 million (USD440) per square metre. The CT1 apartment block has 25 floors, including 328 apartments of between 60 and 80 m2 each.
Since July, nearly 3,500 apartments for low-income earners have been built in Hanoi. The city has planned to build around 15,000 apartments of its kind from 2010-2015 period.
