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Accordingly, in 2021, HCMC built 4.9 million square meters of residential floor, exceeding the target by 16.7 percent. More than three-thirds of that were private houses constructed by city dwellers themselves, and the rest were completed houses in different projects.
In 2022, the figure for new residential floor was 8.45 million square meters, also exceeding the target by 28 percent.
In the first quarter this year, HCMC only witnessed the construction of 0.95 million square meters of residential floor, dropping 58 percent compared to this time previous years. Most of that were still private houses built by local dwellers themselves (over 90 percent of the increasing residential floor).
Regarding social housing, from 2021 to the first quarter of 2023, HCMC finished one project with 260 apartments. Another six projects are in progress to supply nearly 4,100 apartments. In addition, one worker residence building is on the way to offer 1,040 apartments.
The HCMC Department of Construction stated that housing development in the city is not sustainable as most new structures have been private houses built by individual residents. Project housing only accounts for 30 percent, and is on the wane.
