During a working session with the Party Committee of the Government on the implementation of Directive 34 of the Party Central Committee on strengthening the Party's leadership over social housing development in the new situation, General Secretary and President To Lam addressed the negative situation and exploitation of social housing policies, including the sale of diplomatic and foreign-referral quotas, turning social housing into speculative assets.
The General Secretary and President emphasized that housing is for living, not for business or asset accumulation, and called for strict and transparent control over the purchase, rental, and transfer of social housing, ensuring strict compliance with regulations and target groups. Housing policy in the new phase must be designed with a new mindset and vision, ensuring that all citizens have a place to live. In particular, rental housing must be identified as a strategic pillar.
Currently, nearly 800 social housing projects are being implemented nationwide, with a total of over 720,000 units. Of these, only 42,000 are rental apartments.
In reality, the demand for rental housing in urban areas is very high, as a segment of the population has not yet accumulated enough savings to buy a home. Currently, rental housing mainly consists of cramped boarding houses or mini-apartments, which are essentially houses in alleyways divided into self-contained rooms. According to market participants, developing rental housing as a strategic pillar is not only in line with current practices but also opens up more opportunities for people to find stable housing. And to increase the supply of rental apartments, significant policy support is needed.
Mr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association, stated: "Unlike building houses for sale, investors can recover their capital quickly by renting them out for long-term income. A comprehensive and systematic policy is needed, assigning responsibility to local authorities and businesses."
In developed cities around the world , policies for building rental housing have become very popular.
Besides the leading role of the State, to attract private enterprises to develop rental housing, there needs to be an attractive credit mechanism, such as long-term loans and stable interest rates.
Mr. Pham Duc Toan, General Director of EZ Real Estate Investment and Development Company, shared: "We should focus on projects that are truly effective, ensure social welfare, social housing, and affordable commercial housing. We should encourage such projects."
Currently, labor migration between cities is frequent and continuous. Housing needs to be close to workplaces, so the preference for renting for flexibility has emerged. In developed cities around the world, policies for building rental housing are highly developed.
Ms. Ho Thi Thu Mai from Hanoi City commented: "Signing a long-term lease contract with a clear price, and with clear government support within that price, and rent not exceeding 20% of a person's total income, leaves them with 80% of their income, allowing them to confidently cover their living expenses."
The price of new apartments in Hanoi and Ho Chi Minh City has already exceeded 100 million VND/m2, far beyond the income of many people. However, in the near future, as rental housing becomes a strategic pillar, access to housing will become easier for people. And with the addition of more high-quality housing supply, housing prices may stabilize.
When there is an abundant and quality supply of rental housing, people can feel secure in their long-term living arrangements. They won't have to worry about sudden rent increases or constantly changing residences. The pressure to buy a house in the city, which drives up housing prices, will be reduced. At this point, with strict management from relevant authorities, social housing cannot be turned into a speculative, profit-making product, preventing the policy from being exploited.
Source: https://vtv.vn/phat-trien-nha-o-cho-thue-het-thoi-dau-co-bat-dong-san-100260520210301593.htm
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