HCMC – The HCMC Real Estate Association (HoREA) has called for more land to be allocated for affordable housing projects to meet growing demand.
The association has submitted its recommendations to the National Assembly Standing Committee, the prime minister, and the Ministry of Natural Resources and Environment. The proposal emphasizes piloting commercial housing projects through land-use agreements or utilizing existing land reserves.
HoREA Chairman Le Hoang Chau stressed the need to prioritize developers with access to land resources for affordable housing. He argued this approach would address the current dominance of high-end residential properties and foster sustainable development in the real estate market.
National Assembly discussions have highlighted the challenges of developing social and affordable housing. Lawmakers pointed out that many regions are struggling to meet the demand for such housing, while luxury developments often remain underutilized.
The proposed draft resolution includes pilot projects in urban areas outside land subject to compulsory acquisition. It sets a limit of 30% additional residential land within provincial land-use plans through 2030.
Chau noted that these criteria are designed to curb speculative land acquisitions and safeguard farmland, particularly rice-growing areas. He highlighted Vietnam’s 2024 Land Law, which enforces stricter rules on land-use planning and food security.
The National Assembly is expected to vote on the resolution on November 30.
