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Thursday, July 25, 2024

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Social housing seen from supply-demand perspective

For social housing, real demand should be determined and public resources used in the most effective way, Dr. Dinh The Hien, an economic and financial expert, said in an interview with The Saigon Times. THINGS BEHIND THE “SOCIAL HOUSING” MANTRA The Saigon Times: While the real estate market remains gloomy, social housing development is seen as a way out. Many solutions have been proposed to increase social home supply, such as incentives related to land access, tax and paperwork, and to increase demand by expanding access to social housing. What is your view on these solutions? Dr. Dinh The Hien: First, the above viewpoint is not new. In the past, whenever the real estate market showed signs of decline, there would appear proposals to develop the social housing segment. They were intended to meet the housing needs of workers and low-income earners while stimulating the real estate market. They seem reasonable at first glance, but we need to look at the full picture of it. In 2012, when the real estate market ebbed, a VND30-trillion credit package was introduced to support workers, low-income earners, and businesses involved in developing social homes or converting commercial residential projects into social ones. This […]
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