Prime Minister Hung applauded the development of social housing and rental housing in particular, but said the demand for affordable rental housing for workers, students, civil servants, and members of the armed forces is very big but has not received adequate attention.
“It must be based on Hanoi's urban and rural planning. First of all, since we haven't been able to mobilize social and private resources, the State should invest money and focus on construction. The Ministry of Construction should coordinate with Hanoi to establish regulations and standards. During the construction period, the State will not collect land fees, only construction costs will be considered, and then related costs, including future operation and maintenance costs, will be accounted for. If a 15-20 year lease commitment is provided, the need to own a house will be significantly reduced,” the PM said.
The Prime Minister called for a proper, complete, and accurate assessment of the actual demand for rental housing in the capital city, categorized by segment and target group. The focus should be on clarifying the gap between current demand and supply capacity, he added. Hanoi’s experience will be learned to develop rental housing mechanisms and policies.
