Hanoi (VNA) – Approximately 49 trillion VND (3 billion USD) will be invested in building 184,000 low-price apartments for people with stable incomes in urban areas over the 2009-2015 period.
According to a project submitted by the Ministry of Construction to the Government on September 29, the apartments will meet demand for accommodation by 30 percent of households who face housing difficulties in urban areas.
Of the total investment, 25.6 trillion VND will be sourced from the State budget and the remainder will be mobilised from economic sectors.
According to the ministry’s proposal, the provincial People’s Committees will decide who will be allowed to buy or rent low-price apartments.In addition, prospective house purchasers must meet minimum monthly income levels in accordance with the regulations.
To encourage economic sectors to participate in the construction of the social housing fund, the Ministry of Construction has also proposed extending land, tax and investment credit incentives to projects in this field.
The ministry’s survey reveals that the country now has almost 2 million civil servants, with two thirds of them able to afford to buy houses, whilst those who don’t own houses are mainly young people.
The average housing area for civil servants is only 7-7.5 sq.m in Hanoi and 12 sq.m in Ho Chi Minh City . More than 30 percent of households possess a housing area under 36 sq.m.
Around 15-20 percent of households in all economic sectors in urban areas are facing real difficulties in obtaining quality, spacious accommodation, according to the survey.-