Construction has begun on 112,000 social housing units nationwide.

The number of social housing projects and the disbursement progress of the 120,000 billion VND package have not been as high as expected. (In the photo: a social housing project under construction in Thu Duc City - Photo: NGOC HIEN)

At the seminar "Realizing Green Social Housing" organized by Saigon Economic Magazine on the morning of August 22nd, Mr. Ha Quang Hung, Deputy Director of the Department of Housing and Real Estate Market Management ( Ministry of Construction ), stated that from 2021 to the end of the second quarter of 2024, 619 social housing projects with a scale of 561,800 units were implemented nationwide.

Of these, 79 projects have been completed with a scale of 40,679 units, 128 projects have commenced construction with a scale of 112,000 units, and 412 projects have received investment approval with a scale of 410,000 units.

According to Mr. Hung, localities are currently developing approximately 152,000 social housing units, achieving over 35% of the target for 2025.

Explaining why the development of social housing has not been as rapid as expected, Mr. Hung said that the core reason is the overlap in laws that has caused many obstacles to housing development for a long time, but the legal framework has now been cleared.

In addition, Mr. Hung believes that other policies such as creating favorable conditions for developing land for social housing construction, offering profit incentives for investors, reducing administrative procedures, and being more open about residency and income requirements for buyers... will help investors accelerate the construction of social housing.

Mr. Nguyen Duc Lenh, deputy director of the State Bank of Vietnam's Ho Chi Minh City branch, said that building green social housing will contribute to reducing emissions and improving people's quality of life without increasing house prices.

According to Mr. Leinh, the State Bank of Vietnam will create the best possible conditions for projects to access credit sources for the development of social housing, including the 120,000 billion VND package.

To date, Ho Chi Minh City has 6 social housing projects that meet the criteria to access the 120,000 billion VND package, but Mr. Leinh said that only 3 projects have borrowed capital from banks.

Of these, the worker housing project in Thu Duc City is borrowing from the 120,000 billion VND package, with 170 billion VND already disbursed. The other two projects are borrowing through commercial banks and are not participating in the preferential loan package.

According to Mr. Leinh, the 2023 Housing Law and Decree 100 have relaxed income requirements, allowing couples with a combined monthly net income of no more than 30 million VND to purchase social housing, which will help expand the target group for social housing.

It is crucial to continue maintaining low lending interest rates, long loan terms, and accelerating the construction of social housing to ensure a sufficient supply for people to buy homes.

Mr. Vu Linh Quang, a member of the board of directors of the Vietnam Green Building Council, stated that many commercial buildings in Vietnam have met domestic and international green building standards for the past 15 years.

According to Mr. Quang, developing green social housing projects without increasing costs is feasible in Vietnam, requiring investors to "commit" to the goal of reducing overall emissions and focus on green criteria from the very beginning of project development.

Source: https://tuoitre.vn/ca-nuoc-da-khoi-cong-112-000-can-nha-o-xa-hoi-20240822105124833.htm