Real estate market gets warmer
Real estate market gets warmer
The real estate market has seen positive developments as numerous social housing projects are carried out to help low-income people have home and give a boost to the market.
According to the Ministry of Construction (MoC), 124 projects are underway to built around 78,700 flats, in which 85 projects are building 51.895 flats for low-income people with a total investment of VND23,822 billion ($1.1 billion) and 39 projects are providing 27,000 flats for workers with an investment of VND6,850 billion ($322 million).
In addition, 57 other projects to develop commercial houses have been reversed to social housing purposes, which are expected to provide around 34,837 flats with an investment of VND20,567 billion ($966 million). Ha Noi is considering to turn 5,478 flats of 15 commercial housing projects into 10,587 flats to serve low-income earners.
The MoC has worked with relevant agencies to process procedures required for the changes in accordance with current legal regulations.
It has also directed localities to speed up investment and approval of social housing projects while working to mobilize more foreign capital and preferential loans for the work.
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