Twenty-four commercial housing projects with more than 24,860 apartments have so far been registered for conversion to low-income housing, according to the Ministry of Construction’s report.
A housing project for workers in Kim Chung, Dong Anh district, Hanoi (Source: VNA)
Of them, six projects with a total of 8,000 units are in Hanoi and 16 with a total of 12,000 units are in Ho Chi Minh City.
According to the ministry, investors remain hesitant about converting their properties due to complicated and overlapped procedures.
The ministry has said it will provide incentives to encourage developers to focus on social housing.
It also said the Bank for Investment and Development of Vietnam will implement a loan package worth 30 trillion VND (1.428 billion USD) for housing over the next two years.
Source : VNA