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Ho Chi Minh City
Saturday, July 13, 2024

Affordable housing still unaffordable

By V. Dung

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Though social housing is seen as a way to deal with the perennial shortage of affordable homes, there are various problems that need to be overcome in order to successfully put housing plans into action. Affordability challenges Owning a home in HCMC is challenging for families with average incomes. To achieve this goal, they need to take loans from banks or seek capital from other funding sources. However, even if they succeed in obtaining loans or capital from other fundraising channels, finding an affordable home remains a daunting task. A report from the HCMC Department of Construction showed that the city had 13 projects with 14,666 units for sale during the first half of the year, a year-on-year increase of 50%. These units had a total value of VND145 trillion, representing a staggering 87% year-on-year surge. However, significant imbalances were observed in the housing segments. The high-end segment, where the price of housing units is above VND40 million per square meter, accounts for 87% of the total units available for sale. The number of units in this segment has also increased by 7.2% over the same period in 2022, with over 13,033 units. Meanwhile, the mid-range segment, which includes homes […]
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