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Social housing in Hanoi on track

Released at: 09:45, 21/01/2015

Social housing in Hanoi on track

Capital expects 1.4 million square meters of social housing to be completed this year.

by Nguyen Quynh

In the conversation about finding solutions to remove difficulties of the social housing development plan, Mr. Nguyen Ngoc Tuan, Vice Chairman of Hanoi People's Committee said that Hanoi aims to complete 1.4 million square meters social house in this year.

In the stage of 2013-2014, Hanoi completed 9 projects for low-income earners with nearly 6.000 apartments while 12 other projects were approved to invest. In 2015, Hanoi People's Committee expected 3 projects are able to complete on schedule and 9 remaining projects will be slower.

Speaking at the conversation, Mr. Tuan requested that investors must ensure the project's progress under the supervision of Hanoi Department of Construction. In addition, Hanoi also committed to create many favorable conditions for investors as well as try to remove difficulties to ensure the project's progress. "The development of social housing is one of the most important policies which Hanoi targets in this year. Therefore, supporting investors is helping Hanoi itself to implement economic-social development and social security," he added.

Vietnam's real estate in 2014 witnessed a lot of recovery signs. In Hanoi, the number of successful transactions increase by 11.550, double compared with 2013. Many experts predicted that Hanoi property market in 2015 has been on the road to recovery since 2014, and is expected to see a significant increase in the residential sector. Also, the market should get a new target when the new housing law becomes effective.

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