Dreams come true: social housing improves living standards in HCMC
Children play in the social housing complex.
Social housing is a model that comes with a preferential property tax and loans at lower interest rates than commercial houses. They are built for low-income people, people with meritorious service, the military, and other welfare recipients.
According to the HCMC Construction Department, over the past 15 years the city has commissioned 31 public housing projects with 18,800 apartments. However, this satisfied only a small part of the demand.
Each apartment costs an average of VND 1-1.6 billion (at VND 14-20 million per square meter), according to the appraisal price announced by the Ministry of Construction in 2019. This price is considered low on the market, but still high for low-income people. people, especially workers.
According to the Construction Department, Ho Chi Minh City has more than 500,000 households, a quarter of the total number of households in the city, without their own home. This figure does not include families who live in small houses with an area of less than 10 square meters for one person, which does not meet the legal housing standard.
Recently, Ho Chi Minh City rolled out a plan to build one million low-cost housing units, including several social housing units.