How long will it take people in Ho Chi Minh City and Hanoi to buy a social house of VND 300 million from Vinhomes?

On May 12, 2022, Vinhomes Joint Stock Company held the annual general meeting of shareholders in 2022. At the meeting, the strategy to build 500,000 social housing houses was officially announced.

At the meeting, leaders of Vinhomes shared, within the next 5 years, the company strives to complete 500,000 social housing houses across the country, the expected selling price of social housing is only 300-950 million VND. /apartment.

It is known that social housing will be built in large urban areas with a scale of 50-60 hectares in the periphery in major cities and provinces such as Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, and Da Nang. …. nationwide. In the immediate future, Vinhomes will deploy the project in Hanoi and Ho Chi Minh City.

According to the 2020 Population Living Standard Survey Data of the General Statistics Office, the average income of urban workers is about 5.6 million VND. Assuming a social housing unit has the lowest price of 300 million VND, a person with an average living standard in cities will need about 53 months (equivalent to 4.5 years) without eating or spending to have enough money to buy a house. social housing.

In case the apartment has the highest price of 950 million, workers will need up to 169 months (about 14 years) of labor, and income If you don’t spend on anything else, you can afford to buy a social housing.

However, not all income will be used only for buying a house, but will need to be spent on other basic needs. The population living standard survey data in 2020 shows that urban households have a per capita expenditure of approximately 3.8 million VND per month. Thus, on average, each Vietnamese living in urban areas will save about 1.8 million VND/month.

With that savings, It will take about 13 years for workers living in big cities like Hanoi or Ho Chi Minh City to buy a social housing unit of the cheapest type, which is 300 million VND. In the case of a social housing unit with a price of 950 million VND, it will take about 44 years for workers to be able to own the apartment.

Sharing at the seminar “Removing bottlenecks in the development of social housing and housing for workers” organized by VTC in collaboration with the Ministry of Construction on April 19, Deputy Minister of Construction Nguyen Van Sinh said, with the the policy has been issued, so far, the whole country has completed 275 social housing projects with the scale of about 147,000 apartments; is continuing to implement 339 projects with a scale of about 371,500 apartments, thereby helping hundreds of thousands of households who are workers and low-income people have conditions to improve housing quality.

At the Conference to revise the Law on Housing – Law on Real Estate Business to develop housing and real estate market recently organized by Vietnam Real Estate Association, lawyer Nguyen Vinh Quynh of Minh Bach Partnership Law Firm said that The beneficiaries of preferential policies on social housing cannot afford to buy or rent this type of house.

Accordingly, the average price of social housing is 15 million dong per square meter, in some areas up to 21-25 million dong per square meter, which is essentially too high compared to those in the preferential treatment. This price can only be suitable for those with average income and above. Therefore, functional industries need to be untied to attract businesses to work, increase supply, and lower house prices. crab-vinhomes-20220512114145377.chn

According to Giang Anh

You are reading the article How long will it take people in Ho Chi Minh City and Hanoi to buy a social house of VND 300 million from Vinhomes?
at – Source: – Read the original article here

Back to top button