Social housing development policy in HCMC - advantages and difficulties

Abstract

Ho Chi Minh City is considered as one of the most developed economic and financial centers of Viet Nam. In addition to the achievements, the city's development has also put considerable pressure on addressing housing needs for the residents. In recent years, the demand for social housing for low-income people in developed cities has accounted for a high proportion, up to 60% of the total. Although the city government has been had many policies to encourage investers to participate in social housing projects and provide financial support for home buyers, the results are still quite limited. Currently, real estate projects are generally focused on commercial housing projects due to high profitability and fast capital recovery time; together with the house prices in urban areas are constantly increasing and many times higher than the average income of the residents. The above factors have put great pressure on urban housing development to ensure basic rights to accommodation of the people. The article summarizes the current situation of social housing development policies in Ho Chi Minh City from 2006 to present; assess achievements and shortcomings; thereby proposing solutions to help improve the effectiveness of social housing development policies in urban areas.