More than 5,660 apartments and low-rise buildings are about to be launched on the Hanoi market.

Implementing the city's housing development plan for the 2021-2025 period, the Hanoi People's Committee has approved a list of 15 housing and urban area construction investment projects (phase 2) that are under construction and carrying out investment preparation procedures.

It is expected that there will be an additional 5,662 apartments and low-rise buildings completed from now until 2025, 3,512 apartments completed after 2025 and 294 apartments undergoing investment preparation procedures.

Notably, 2,051 social housing units will be built and completed in 2025-2027.

These are the projects: Social housing at plot CT4-CT5 in Dai Kim new urban area (Dai Kim ward, Hoang Mai district) invested by the Joint Venture of Hanoi Construction Investment Company No. 2 and Vimedimex Pharmaceutical Group Joint Stock Company (562 apartments), under construction, expected to be completed in 2025; Social housing at plot CT6B in Tay Nam Kim Giang 1 new urban area (Dai Kim ward, Hoang Mai district), proposed for bidding to select investors (552 apartments); Social housing at plot CT7-CT8 in Tay Nam Kim Giang 1 new urban area (Dai Kim ward, Hoang Mai district and Tan Trieu commune, Thanh Tri district), proposed for bidding to select investors (937 apartments), currently carrying out procedures for deciding on investment policy.

Previously, in August 2023, the Hanoi People's Committee approved a list of 162 housing and urban area construction investment projects in the city's Housing Development Plan for the 2021-2025 period (phase 1).

Specifically, there are 146 commercial housing projects, urban areas with 91,322 apartments and low-rise buildings; 8 social housing projects with 5,572 apartments; 8 resettlement housing construction investment projects with 5,177 apartments...

Director of Hanoi Department of Construction Vo Nguyen Phong said that implementing the "Hanoi City Housing Development Program for the period 2021-2030," Hanoi aims to develop diverse types of housing, focusing on developing social housing, apartment buildings, rental housing, and housing for workers in industrial parks to meet housing needs for people with different income levels, especially housing for those who are entitled to social housing support policies.

In the 2021-2025 period, Hanoi strives for an average housing area per capita of 29.5 m2/person (31 m2/person in urban areas and 28 m2/person in rural areas).

The minimum housing area strives to reach 10 m2/person, with a total housing floor area of ​​about 44 million m2.

By 2030, Hanoi sets the target of an average housing floor area of ​​32 square meters per person; the rate of social housing for rent must reach at least 10% of the social housing area in the project; in housing construction investment projects, urban areas must ensure that the rate of rental housing must reach at least 5% and the rate of rent-to-purchase housing must reach at least 10% of the total floor area of ​​apartment buildings in the project...

To solve the difficult problem of social housing development, Vice Chairman of Hanoi People's Committee Duong Duc Tuan said that based on the synthesis of the demand for social housing by 2030, it is estimated that about 6.8 million square meters of floor space (equivalent to 113,000 apartments) will be needed, Hanoi has proposed 5 solutions; including promoting the construction of independent, concentrated social housing areas in a modern direction, with synchronous technical and social infrastructure, meeting the urgent and legitimate needs of many people with housing difficulties.

According to the plan, Hanoi will build 5 concentrated social housing areas with a scale of 280 hectares; when completed, it is expected to provide about 2.3 million square meters of housing floor space (equivalent to 38,000 apartments).

Currently, Hanoi continues to research 3-5 locations to develop independent social housing areas; at the same time, reviewing 68 land plots belonging to the 20% and 25% land fund in commercial housing projects and urban areas to propose plans to build social housing...

Recently, at the online conference to implement the Prime Minister's Official Dispatch 993/CD-TTg dated October 24, 2023 on continuing to resolutely implement solutions to develop the real estate market to develop safely, healthily, and sustainably, contributing to promoting socio-economic development, organized by the State Bank in coordination with the Ministry of Construction, the Hanoi Department of Construction proposed to increase the profit for investors building social housing to 15-20%, instead of the old level of 10% which did not attract many businesses to participate.

The Department also recommended maintaining the regulation that businesses building social housing are allowed to reserve 20% of residential land to build commercial housing, because this is an important incentive mechanism for investors and is also the basis for lowering product prices, providing direct support to home buyers.

On the other hand, the Hanoi Department of Construction proposed that the law on bidding should have separate regulations on selecting investors through the form of drawing lots like many countries in the world are implementing to help shorten the time; in particular, there should be preferential solutions for the 120,000 billion VND loan package for social housing development (regarding loan period, interest rate, legal procedures...).