Society

HCM City faces social housing shortage

HCM City has a surplus of houses for relocated residents, but severely lacks social housing.
HCM City faces social housing shortage ảnh 1Illustrative image (Photo: VNA)

HCM City (VNS/VNA) - HCM City has asurplus of houses for relocated residents, but severely lacks social housing.

Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, said thecity has a surplus of 7,000 houses in urban areas and resettlement areas indistricts 2, 7 and Binh Chanh for people who need to be relocated.  

The city is planning to put them up for auction and use the money for purposessuch as infrastructure investment.

Many resettlement apartments in the city have been left unused for manyreasons.

Some of the apartments are in poor condition. People who were relocated cannotfind jobs in the new areas, and some people preferred to take compensation overbeing moved to a resettlement apartment.

From 2011 to 2020, it is estimated that around 134,000 social apartments wouldbe needed, according to the Department of Construction.

About 81,000 households and individuals (between 2016 and 2020) were estimatedto be in need of social housing, according to the HCM City Institute forDevelopment.

The department said the city has built nearly 8,000 social housing apartments,and 11 buildings are under construction, which are expected to provide almost10,200 apartments.

Several social housing projects such as HoangQuan Project are lagging behind schedule and cannot deliver the apartments on timeto customers who have bought them.

Inlate 2018, the city approved a decision to dedicate more than 60,000sq.m ofland at several districts to build social housing. The construction departmentis asking for permission to put them up for auction to attract investors.

However, many real estate businesses said they were not interested in socialhousing, as 20 percent of the apartments for rent and 60 percent for sale musthave their prices approved by the State, and investors can only freely operatethe remaining 20 percent.

The expected profit rate of a project would be no more than 10 percent.

The department has suggested that the city ask the Government to arrangelow-interest loans from the Vietnam Bank for Social Policies for investors andapartment buyers.-VNS/VNA
VNA
#surplus#houses#relocated residents#social housing#resettlement areas#compensation#auction#investors#Vietnam Bank for Social Policies#Vietnamplus#Vietnam News Agency
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