HCM City to auction 5,200 resettlement apartmentsVietNamNet Bridge – HCM City will auction 5,200 resettlement apartments and land lots out of nearly 14,000 unoccupied apartments and land lots initially designed for resident relocation, the Department of Construction has told a media briefing. Others include 1,000 units in the resettlement area of Vinh Loc B Commune in Binh Chanh District and 200 units in the Phu My resettlement project in District 7. Before the change, the State paid compensation for residents at a lower rate than market prices, therefore, they usually took the resettlement apartments rather than the money. Another reason that resettlement apartments have remained unoccupied is according to regulations, before relocating residents, the city has to make resettlement areas ready for them to move in. At least 3,790 apartments were built for District 2’s Binh Khanh resettlement area, but very few people have moved in.

Source: VietNamNet News March 19, 2018 04:52 UTC