Hanoi tops localities for low-cost houses

As much as 70% of Vietnam’s low-cost houses in Vietnam have come from Hanoi thanks to the city’s rapid urbanization rate.

Hanoi posted high urbanization rate. Photo: Pham Hung/Kinhtedothi

Hanoi topped localities nationwide for developing more than 315,000 square meters (sq.m) or 3,150 affordable houses in 2018, according to the municipal authorities.

The result was part of the city’s housing plans outlined for the 2016-2020 period which targets to provide accommodation for people in urban areas amid the high urbanization rate, the municipal government said on its website, adding that the social housing would be 3.6 million sq.m by 2020.

With such results, Hanoi already finished its goals for developing modern houses by 2020 approved by the city’s leaders and the prime minister.

Architect Nguyen Van Thanh told Hanoitimes that the urbanization has left positive impacts on the real estate market, adding massive value to property products.

"As a result, urban planning will prompt the appearance of real estate projects," Mr. Thanh said.

Hanoi’s housing targets for 2016-20 contain 6.2 million sq.m of social housing, including 977,000 sq.m for students and 567,000 sq.m for workers, 1.2 million sq.m for resettlement, and 20.4 million sq.m for commercial sales.

The city targets to raise average housing area per head to 26.3 sq.m, including 29.1 sq.m in urban zones and 22.1 sq.m in suburban in 2020.

As of June 2019, the average accommodation area in Hanoi hit 26 sq.m/head.