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More capital poured into social housing

A social housing credit package worth 30 trillion VND (1.3 billion USD) is on the verge of running out, and this could pose difficulties for low-income people when it comes to renting or buying property. ​
More capital poured into social housing ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA)
– A social housing credit package worth 30trillion VND (1.3 billion USD) is on the verge of running out, and this couldpose difficulties for low-income people when it comes to renting or buyingproperty.

To address this problem, the Government has assigned relevantministries and agencies to offer an additional 1 trillion VND (42.6 millionUSD) for the Bank for Social Policy and 2 trillion VND for four commercialbanks to support social housing loans.

The Government has also asked the Ministry of Construction tostudy shortcomings in Decree No.100/2015/ND-CP on social housing developmentand management, and recommend necessary amendments and supplements.

According to the ministry, a total of 207 social housingprojects with morethan 85,810 apartments and total floor area of nearly 4.3 million sq. m have sofar been completed nationwide. Another 220 projects with 179,640 apartments covering8.98 million sq. m are under construction.

Nine social housing projects for low-incomeearners with more than 4,100 apartments measuring 205,500 sq. m were completedand put into use in 2019, which did not meet the target set by the nationalhousing development strategy to 2020 with a vision to 2030.

The strategy aims for 12.5 million sq. m ofsocial housing by the end of 2020./.

VNA

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