Minister of Construction urges more low-income housing

Sep 11th at 14:01
11-09-2014 14:01:23+07:00

Minister of Construction urges more low-income housing

Minister of Construction Trinh Dinh Dung has asked contractors to prioritise invests in low-income housing projects, as 90% of citizens can only afford the homes in this sector.

  

According to Dung, even though these domiciles are listed as homes for low-income people, they are the only residences within the reach of most Vietnamese citizens. He said that 90% of citizens have a need for apartments costing less than VND15 million (USD714) per square metre.

"We still can't meet the huge demand. There are still many poor families in the cities and in the industrial zones. I once saw a five-member family living in a 16-square-metre house," he added.

Dung proposed that local authorities in Hanoi create more favourable conditions for investors to convert commercial spaces into social housing. He said these homes would be prioritised to meet the real demands of disadvantaged families.

On September 9, the minister, along with the authorities of Hanoi People's Committee, conducted inspections of several social housing and dormitory projects. The minister showed his approval with the quality and suggested that contractors also provide furniture at low cost.

Nguyen Ngoc Tuan, vice chairman of Hanoi People's Committee, said Hanoi is one of the cities to most quickly implement low-income housing projects. As of now, the city has 44 projects.

However, Deputy Minister of Construction Nguyen Tran Nam said that according to the approved plan, Hanoi must have at least 20,000 low-income apartments by 2015. Even with 15,000 apartment projects, there is little in the works, making the aspirations for next year seem difficult to attain. Nam asked that Hanoi municipal authorities propose new plans to investors.

vir



NEWS SAME CATEGORY

Laguna Lang Co sold 80 per cent of first launched townhome block

Laguna Park last week sold 80 per cent of its first townhome block in an event of Laguna Park Classic Golf Tournament, which was organised to introduce the townhome...

Tourism property project in Halong to feature Hanoi and Hoi An old quarters

A tourism real estate project featuring old quarters in Hanoi and Hoi An cities will take shape in Ha Long City next year.

Housing sector targets middle class

Property developers have been launching a slew of apartment and residential land projects targeting both middle- and high-income earners, sparking off a new race in...

Little Viet Nam project replicates unique architecture

Syrena Viet Nam is replicating the unique architecture of Ha Noi's Old Quarter and Hoi An's Ancient Town in a project called Little Vietnam.

Little Viet Nam project replicates unique architecture

Syrena Viet Nam is replicating the unique architecture of Ha Noi's Old Quarter and Hoi An's Ancient Town in a project called Little Vietnam.

CapitaLand pushes its fourth project forward

Leading Singaporean developer CapitaLand has pushed forward with its Vista Verde project by appointing Construction Joint Stock Company No.1 as contractor.

Nam Long: a successful case-study of affordable housing developer

With a strategic focus on the affordable housing segment, Nam Long is taping on the real demand market and further strengthening its foothold in the property...

Design changes could lower home prices

A focus on affordable housing designs could bring down the price of houses and enable low-income earners to purchase them, experts said.

Experts optimistic of apartments market

The domestic apartments market is expected to continue recovery by year-end and beyond because of the increasing number of advantages for it in market and state...

Land-use projects stuck in red tape

Enterprises have not benefitted from the Government's Resolution 43/NQ-CP, issued more than two months ago to reform the administrative procedures for investment...

Real estate stocks

Construction stocks


MOST READ


Back To Top