(VOVworld)-HCM city needs to build additional 81,000 social houses by 2020 to meet the demand for low-income housing. An estimated 476,000 families in the city lack stable accommodation.  

38 projects providing 43,000 social houses will be carried out in HCM city as part of local authorities’ social housing development plan until 2020. Nearly 200,000 affordable apartments and houses will also be built with Government and private investment.

The Binh Trung Dong social housing project in HCM city's District 2 (Source: nhaoxahoihcm.com)

“Each project will take at least 2 years to complete. We have tried to remove all barriers facing investors to ensure project progress”, said Tran Trong Tuan, Director of HCM city’s Construction Department.

The Bank for Social Policies has proposed that the Government allocate 45 million USD for social housing projects. The Prime Minister has approved an interest rate of 5% from 2016 to 2017 for housing loans to help low-income families.