Affordable housing supply fails to meet goal: Official
The supply of affordable housing for low-income earners in urban areas and industrial park workers has only met around 42 percent of the target, Bui Xuan Dung, Director of the Ministry of Construction’s Housing and Real Estate Market Management Agency, told a recent workshop.
Blocks of social housing in Kim Chung commune of Hanoi's Dong Anh district (Photo: VNA)
Hanoi (VNA) - The supply of affordable housing for low-incomeearners in urban areas and industrial park workers has only met around 42percent of the target, Bui Xuan Dung, Director of the Ministry ofConstruction’s Housing and Real Estate Market Management Agency, told a recent workshop.
A lack of available land and funding were to blame for the social housingshortage, Dung told the “Social Housing: The Establishment of the 2021 - 2030Comprehensive Social Housing Policy in Vietnam” workshop on April 20 in Hanoi.
The urban population is on the rise and likely to reach 47.25 million,or 44.45 percent of the country’s total, in 2030. By that time, Vietnam willhave one city of more than 10 million people, one of 5-10 million, and four of1-5 million. Rapid urbanisation, though positively impacting socio-economicdevelopment, has put enormous pressure on housing, particularly for those on lowincomes, he noted.
To boost social housing development around the country, the KoreaInternational Cooperation Agency (KOICA) shook hands with the Ministry ofConstruction to launch a project on establishing the 2021 - 2030 ComprehensiveSocial Housing Policy, funded by non-refundable aid from the Republic of Korea(RoK).
The project aims to learn from international experience and explore thecurrent situation in Vietnam to propose suitable policies for affordablehousing development over the next decade and meet the growing demand.
A number of proposals, including those regarding land banks, the reformof procedures for social housing purchasing, renting, and “rent-to-buy” schemes,and incentives for developers have been put forward and translated intoreality.
Kim Youin from the RoK Embassy in Vietnam said policies for socialhousing development need to be implemented in the long term and under aspecific roadmap. The Government should also develop exclusive mechanisms andpolicies for people without financial means to access an appropriate socialhousing model, he said./.
Ho Chi Minh City is expected to need an additional 160,000 social housing apartments in the next decade to meet its rising population and demand for affordable housing, according to the city’s Department of Construction.
Vietnam has 513 social housing projects for workers, 249 of which with 5.2 million sq.m of floor area are completed, or 41.7 percent of the plan, according to figures from the Ministry of Construction.
Vietnam’s average housing floor area per person in 2020 was only 24sq.m, failing to meet the set target of 25 sq.m, according to an official from the Ministry of Construction.
Workshops sharing experience in social housing development of the Republic of Korea (RoK) and policy improvements in Vietnam will be held in major cities of HCM City, Da Nang and Hanoi in the coming time, according to the Ministry of Construction (MoC).
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Blocks of social housing in Kim Chung commune of Hanoi's Dong Anh district (Photo: VNA) 
