Nevertheless, housing development in the most densely populated city has not satisfied residents’ increased demand of cheap priced houses, social houses so that low-income earners can afford.
During the 10 past years from 2009 to 2019, the city’s population has grown by 1.8 million people from the 2009 figure and an average floor area per person of 20.1 square meters ( increasing from 16.6 square meters in 2009 to 20.1 square meter in 2019.
It has been forecast that during the next ten years from 2021 to 2030, the city’s population is expected to increase by 2 million persons. Therefore, city administrators will implement the project “ Building the housing development in HCMC for the 2021-2030 period to satisfy the increasing demand".
The city targeted to have total floor area of 237.3 million square meters or average floor area of 23.5 square meters per person by 2025 and total floor area of 295 million square meters by 2030 average floor area of 26.5 m square meters per person by 2030.
The city planned to build different types of houses to mobilize all social sources.
When it comes to commercial real estate, HCMC encouraged investors to apply new technologies and use new materials. Competent state agencies will help investors remove hiccups along the way and approve 1/500 planning. These bodies will enhance IT in management, planning, and investment of housing as well as use environmentally-friendly houses adapted to climate change.
HCMC will also issue mechanism to increase international cooperation and attract financial assistance to push up construction projects under the form of public–private partnership as well as including more projects in the list of PPP projects.
Simultaneously, the city will continue mobilizing all sources to build social houses for low-income earners while the city’s state budget will be spent on building rental property. As per regulation, 20 percent of land in commercial property of over 10 ha will be for building social apartments. Social condominiums will be built on lands which polluting facilities used to locate in.
HCMC will directly build or invite bidding social houses under the form of build-transfer in empty land. HCMC will prioritize to create clean land site outlying districts along public transport axis including metro stations and ring belts. The city will use state budget for building social houses to help families with extreme difficulties in housing.
Additionally, to help residents build their houses, HCMC will continue improving administrative procedures by simplifying formalities in construction certificate, issuance of land use rights and house ownership certificates as well as give information of planning for individual houses to help residents to build and repair houses.