An archirectural drawing of a social housing project in Da Nang city (Photo: VNA)
Hanoi (VNA) - Vietnam has 513 socialhousing projects for workers, 249 of which with 5.2 million sq.m of floor area arecompleted, or 41.7 percent of the plan, according to figures from the Ministryof Construction.
Meanwhile, 264 other projects with total floor areaof around 10.95 million sq.m are under construction.
Deputy Construction Minister Nguyen Van Sinh saidthe target under the national housing strategy has not been fulfilled, with ashortage of funding one of the main reasons.
The ministry has proposed amendments to Decree100/2015/ND-CP to address the problems, and is working with the Vietnam GeneralConfederation of Labour on a project to bolster trade union institutions at industrialand export processing parks, the Deputy Minister said.
The Bank for Social Policy has so far received some2.16 trillion VND out of a total of 9 trillion VND (388.36 million USD) todisburse for such projects this year, or just 24 percent, while four commercialbanks appointed by the State to provide subsidised loans have not received anycapital.
Many localities and businesses are yet to pay due regardto social housing, Sinh pointed out.
He added that developers are not interested insocial housing projects as incentives are not attractive enough.
Real estate has been among the leading sectors inattracting FDI, analysts said, and real estate products are growing in terms ofvariety.
Demand will continue to rise to 2030, especially inurban areas, due to economic and population growth, and around 70 millionsquare metres of urban housing is needed every year.
But there are too many luxury property products andnot enough social housing for low-income earners despite there being moredemand for the latter./.
