>> Hanoi’s low income housing “lucky draw” answers hopes of 226 families
>> Social housing in Hanoi up for sale
Vinaconex Xuan Mai Concrete and Construction Joint-stock Company will offer additional 864 houses for low-income families this month.
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The apartments are 70 square metres each will be located at Kien Hung Ward, Ha Dong District.
This will be the second time Vinaconex Xuan Mai has sold this kind of apartments after the first of 226 at Ngo Thi Nham Street offered late 2010.
However, unlike before, people will not have to be either temporary or permanent residents of Hanoi to register for housing. General Director of Vinaconex Xuan Mai Dang Hoang Huy said his firm will receive the registration until March 10.
However, Huy said official prices of apartments have not yet been announced because the company will have to adjust them according to the cost of construction materials.
Vu Ngoc Dam, Head of Housing Development Section under the Hanoi Department of Construction, said that besides Vinaconex, many other investors will start construction of low-income housing in the Sai Dong, Dang Xa and Dai Mo urban areas in the months to come.
Dai Mo apartment project, whose main investor is Vietnam Building Glass and Ceramics Corporation (Viglacera), has attracted many buyers who will receive housing sometime in the first quarter of 2012. Viglacera will also sell around 1,000 low-income residences in Dang Xa Urban Area in Gia Lam District in April.
Capital difficulties
According to Mr Huy, many investors said they face difficulties in receiving capital from banks, due to long and complicated administrative procedures. They would like prioritised loans for low-income housing projects.
They also complained that building low income housing limits profits because the prices are stipulated by the state, while the price of construction materials is subject to the volatility of the market. Currently, only the Vietnam Development Bank is providing loans for this type of housing project.
