The HCMC Department of Construction will organize a low cost housing design competition to build social housing projects for low income people in the city, announced director of the department Tran Trong Tuan yesterday afternoon.
According to Mr. Tuan, HCMC will be able to build social housing projects with the price of VND100 million (US$4,383) an apartment if project investment does not cover site clearance and technical infrastructure, enjoys land use fee exemption and an apartment area is less than 25 square meters and building cost is less than VND4 million per square meter.
However, Mr. Tuan said that HCMC does not encourage building of this type of house because it just should be developed for workers at industrial parks and export processing zones. The social housing program does not target the VND100 million housing but ways to build low cost housing for low income people in each district.
Therefore, the social housing program must be developed on the basic of approved plan to ensure the living space quality for citizens.
The reasonable housing price for low income people in HCMC is less than VND1 billion swinging from VND300-900 an apartment with diversified types and products to meet demand of households of different income and living conditions.
Next week, the department will work with the HCMC Real Estate Association to organize a forum, aiming to seek solutions to build low cost housing in HCMC.
