Prioritise social housing in major cities: MinistryThe Ministry of Construction has asked Hanoi and HCM City to formulate policies that promote social housing development amid a rising demand from citizens for products in this segment. Although the ministry said the property market was exhibiting stable growth, unbalanced developments in supply of high-end apartments and demand of social housing apartments existed as a fear. The ministry forecast that the market might see a glut in high-end apartments and a shortage in housing for low-income earners. In Hanoi and HCM City, the ministry urged that housing development planning be hastened as a base for investment decisions of housing projects to ensure adequate supply following the market demand and prevent unbalanced market development. “The two major cities needed to pay special attention and raise policies for social housing developments,” the ministry said.

Source: VietNamNet News September 02, 2016 11:03 UTC