HCM City authorities admit to big housing shortage

According to the HCM City Real Estate Association, the the city needs to build more apartments to mitigate the housing shortage. (Source: VNA)

According to the HCM City Real Estate Association (HoREA), the city has around nine million permanent residents.

The population increases by 183,000 each year while there are more than 100,000 foreigners working and living in the city.

In the event, a city Department of Construction survey found 476,000 families have been unable to find housing, and most have to live with their parents or relatives.

To mitigate the shortage, the city plans to build 10,000 houses for low-income people and 35,000 hostels for industrial park workers and students.

Le Hoa Binh, director of the department, said this year it has built more 35.2 million square meters of accommodation.

The city expects to have another 38.2 million square meters by the end of the year. Binh said with the construction, the shortage would be completely met this year.

Le Hoang Chau, president of HoREA, said to resolve the housing shortage, the city needs to build more apartments.

HoREA has called on the city to build more housing at reasonable prices for low-income people and simplify administrative procedures for social housing projects.

In five suburban districts, Cu Chi, Can Gio, Binh Chanh, Hoc Mon, and Nha Be, it has called for upgrading traffic infrastructure to connect them with the city’s central areas to attract people to live there.

VNA