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Tuesday, July 23, 2024

Lawmakers call for enabling social housing for lease

The Saigon Times

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HCMC – A National Assembly (NA) deputy has expressed concerns that current social housing policies are more focused on promoting homeownership rather than fulfilling people’s right to accommodation.

During a NA session on June 19, Nguyen Van Hien, a legislator and head of the Institute of Legislative Studies, raised the issue. The NA had convened from May 22 to June 10 and is currently discussing amendments to the Housing Law, with a vote expected in October-November.

Hien emphasized that the current social housing policies prioritize ownership, making it difficult for low-income earners to purchase affordable homes. He highlighted the problem of individuals taking advantage of incentives by misrepresenting their income or using low-income individuals to make purchases on their behalf, further limiting housing opportunities for blue-collar workers in need.

In addition, property developers are prioritizing sales over rentals for social housing, leading to a lack of affordable rental options for those who require them.

According to the Government’s report, 307 social housing projects have been completed, providing 157,000 units for those in need. Another 418 projects with 432,000 units are currently in progress.

The Government has set a target of achieving one million social housing units by 2030, with 428,000 units expected to be completed by 2025. To accomplish this, an estimated VND849 trillion will need to be raised from the private sector.

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