The Ministry of Construction (MOC) has joined forces with a number of ministries and branches to draft a government resolution on solutions to encourage the development of low-cost commercial housing projects. Low-cost commercial housing projects are projects with apartments with an area of less than 70 square meters and selling prices of no more than VND20 million per square meter. Commenting about the real estate market, MOC said most real estate firms focus on commercial housing projects targeting moderately high and high income earners. This has resulted in an oversupply of high-end products, and a shortage of social housing and low-cost commercial housing products (priced at below VND25 million per square meter). To date, the number of social housing projects is equal to only 42 percent of the target set by the national housing development strategy. MOC estimates that people's demand in the mid- and high-end housing market segment (priced at VND25 million per square meter and higher) accounts for only 20-30 percent of total demand, while demand for more affordable products (less than VND25 million per square meter) accounts for 70-80 percent. The house prices in urban areas are much higher than people's incomes, and apartments valued at VND1-2… Read full this story
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Ministry of Construction to reduce housing prices, paving way for VND20 million/m2 apartments have 299 words, post on vietnamnet.vn at February 4, 2021. This is cached page on Vietnam Dance. If you want remove this page, please contact us.