The Ho Chi Minh City Department of Construction has just said that the whole city has 33 commercial housing projects extending 20 percent of the land fund for building social housing projects with around 70,000 apartments.
After the struggle with the Covid-19 pandemic for a long time, Ho Chi Minh City authorities have realized many shortcomings in housing development for workers, employees, and people with low incomes. Therefore, for the stage of social-economic recovery and development, the southern metropolis has promoted the construction of social housing projects, accommodation houses, and resettlement houses to accelerate social housing projects to help immigrant workers access better living conditions.
Ho Chi Minh City is required to urgently remove obstacles to step-by-step materialize social housing projects and remove temporary houses along canals, said Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen at the 13th meeting of the Executive Committee of the Ho Chi Minh City Party Committee of the 2020-2025 tenure on April 27.
The Ho Chi Minh City Department of Construction has just submitted to the Municipal People's Committee a plan of organizing the ground-breaking ceremonies of social housing projects and notifying the finished projects to celebrate the 47th anniversary of the liberation of the South and national reunification (April 30) and May Day.
The Department of Construction of Ho Chi Minh City has just submitted a proposal to the municipal People's Committee asking for direction and consideration to solve problems in construction investment procedures for housing projects in 2022.
Ho Chi Minh City authorities are seeking VND37.6 trillion (US$1.66 billion) to build affordable housing for workers over the next five years, of which State revenue will account for no more than 5 percent of the total investment, according to the Department of Construction.
During the Covid-19 pandemic, shanties and boarding houses in slums are the places where the disease is most contagious ever. If the living conditions become better, people can cope with the pandemic more effectively, minimizing loss of life.
Social housing demand is currently very high but supply is limited due to a shortage of incentive policies and funds allocation for implementing preferential housing loans, which have hindered project development for the last past.
According to the Department of Construction of Ho Chi Minh City, from the beginning of last year to now, it has verified 42 projects that are eligible to raise capital for future products of 23,046 houses, including 21,821 apartments, 883 houses and 342 villas, worth more than VND56.25 trillion.
Preferential loan interest rate remains unchanged at 5 percent for purchase, hire or lease purchase of social housing projects in 2019 as per Vietnamese Prime Minister’s decision 225/QD-TTg, which took effect from the beginning of this year.