53% of the target of the project of 1 million social housing units has been achieved.

According to a report by the Ministry of Construction , there are currently 622 social housing projects implemented nationwide, comprising 565,177 units. This figure becomes even more significant given the continuous rise in commercial housing prices.

53% of the target of the project of 1 million social housing units has been achieved.

According to a report by the Ministry of Construction, there are currently 622 social housing projects implemented nationwide, comprising 565,177 units. This figure becomes even more significant given the continuous rise in commercial housing prices.

At the October 24th meeting of the Central Steering Committee on Housing Policy and Real Estate Market, the Ministry of Construction reported that localities had planned 9,757 hectares of land for social housing, with 622 projects already implemented, comprising 565,177 units.

Specifically, nationwide, 79 projects have been completed with a scale of 40,679 units; 131 projects with a scale of 111,687 units have commenced construction; and 412 projects with a scale of 411,076 units have received investment approval.

Social housing is proving to be a lifesaver for low-income earners. Photo: Thanh Vu

However, only 83 projects in 63 provinces and cities are eligible for preferential loans from the 120,000 billion VND credit package. Of these, 15 projects have been committed to receiving 4,200 billion VND in credit, 57 projects have investors who do not need loans, 6 projects are currently under appraisal, and 5 projects do not meet the loan eligibility criteria.

Homebuyers in 32 out of 83 social housing projects have received loans under the 120,000 billion VND program, with a total outstanding debt of 2,099 billion VND for 5,236 customers. Of this, the majority of the outstanding debt, 2,019 billion VND, originated from the Social Policy Bank due to its more favorable lending interest rates.

According to the Ministry of Construction, the mechanisms, policies, and preferential credit sources for investors in social housing projects are still not attractive enough. Investment capital from the state budget remains limited. Procedures for buying, renting, or leasing social housing are still complicated, especially regarding the verification of documents proving housing conditions, income, and residency.

The achievements in the development of social housing become even more significant when commercial real estate prices continue to rise. During the meeting, the Ministry of Construction stated that, in the first months of 2024, although the market supply showed positive changes, it remained quite limited.

"The housing product structure is largely concentrated in the mid-range and high-end segments. Housing for low-income earners is still lacking, and the proportion of affordable real estate products is gradually decreasing," the Ministry's report stated.

In the third quarter of 2024, real estate prices in some localities continued to trend upwards, especially in Hanoi , Ho Chi Minh City, and other major cities. In addition, the Ministry stated that the land auction market in some localities is continuously setting records, with winning bids many times higher than the starting price. Many bidders even forfeited their deposits after winning the auction, aiming to create an artificial price level in the area.

Source: https://baodautu.vn/batdongsan/da-thuc-hien-duoc-53-muc-tieu-de-an-1-trieu-can-nha-o-xa-hoi-d228261.html