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Hanoi plans 7 million square meters of new housing this year
Son Nguyen 09:44, 2023/05/11
Hanoi is expected to have 44 million square meters of new housing in the 2021-2025 period, which equates to a per capita floor area of 29.5 square meters.

Hanoi plans to complete the construction of nearly seven million square meters of housing in 2023, and the per capita dwelling size will reach 28.2m2.

A resettlement apartment building in Hanoi's Nam Trung Yen Urban Area. Photo: Hai Linh/The Hanoi Times

According to the decision 2614/QD-UBND recently issued by the Municipal People's Committee, the total area of private homes will reach 4.5 million square meters and total area of newly built houses will hit more than 2.4 million square meters.

The housing area to be developed includes more than 2.3 million square meters of commercial properties, 0.032 million square meters of affordable homes and 0.094 million square meters of resettlement homes.

To achieve these goals, Hanoi will review and study policies to remove obstacles to delayed projects and encourage new projects in the city.

The city will also clarify the responsibilities of investors and contractors to ensure that projects are carried out as planned and develop infrastructure to facilitate better connectivity between projects and the city.

Local departments will expedite the process of reviewing and approving affordable housing projects and explore feasible plans to best use fees and taxes collected from commercial properties to finance the construction of affordable housing.

Measures will be taken to speed up the construction of resettlement housing, especially those projects funded by the municipal budget.

In addition, local departments and people's committees will be required to complete the clearance of dilapidated old apartment blocks

They are also urged to complete the evaluation of such properties and speed up the development of reconstruction plans for these buildings, as instructed by the municipal Party committee.

In late February, the Hanoi People's Committee issued Decision 1186/QD-UBND to approve the city's housing construction plan for 2021-2025. The city aims to build an average housing area of 29.5m2 per person, including about 31m2 for each urban resident and 28m2 for each rural resident.

The total area of houses is expected to reach 44 million square meters, including 1.2 million square meters of new affordable houses, 0.55 million square meters of resettlement properties, 19.73 million square meters of commercial houses, and 22.5 million square meters of private homes.

The city also aims to rebuild and renovate four old residential buildings that have fallen into disrepair. The buildings are located in Giang Vo, Thanh Cong and Ngoc Khanh wards of Ba Dinh District.

TAG: Vietnam news Hanoi news Hanoi property market Hanoi real estate new home development affordable houses commercial property resettlement buildings
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