According to Ho Chi Minh City People’s Committee Chairman Phan Van Mai, the city believes that houses and land that are suitable should be auctioned to generate revenue. The city’s Department of Natural Resources and Environment and Department of Construction are working together on a review of houses and land to be auctioned.
Ho Chi Minh City plans to build 367,000 more houses by 2025, totaling 50 million sq m. The average housing area in the city will increase to 23.5 sq m per person by 2025 and 26.5 sq m by 2030. According to calculations by the city’s Department of Construction, about VND1.52 quadrillion ($65.62 billion) is needed to implement projects within the city’s housing development strategy in the 2021-2030 period.
The Mekong Delta’s Ca Mau province will build nearly 23,000 new houses by 2025, with the area per capita to reach 23 sq m in the 2021-2025 period. The total floor space will be more than 3 million sq m and total capital VND19 trillion ($841 million). The province is now calling for investment in 69 commercial housing projects.
Information on the sale of houses, land plots, and apartments in December increased 7 per cent compared to November, while information on buying and selling was down 3 per cent. In Hanoi and Ho Chi Minh City, new supply and apartment transactions in 2021 were the lowest for five years. However, Cushman and Wakefield Vietnam has forecast that the apartment market in the two cities will be vibrant again this year.
South-central Khanh Hoa province plans to build 51,275 houses with a total floor area of 5.3 million sq m in the 2021-2025 period, of which 4,146 will be social houses with a total floor area of 210,000 sq m. Capital of VND48.79 trillion ($2.14 billion) is required.
