Hanoi’s housing development programme for 2021-2030 to increase investment attraction
The programme will identify local demand for houses and land areas for various types of housing construction
According to Vietnam News, the Hanoi People’s Committee has authorised the plan for the city’s housing development programme for 2021-2030.
For that reason, authorities will conduct surveys and assessments concerning the circumstances of commercial housing, social housing, official residence, resettlement housing, and private housing in urban and rural areas. Such evaluations will set goals for housing development and construct predictions on the demand for housing among social welfare beneficiaries.
The programme will determine local demand for houses and land areas to build various types of housing in the city.
Hanoi aspires to build a system of suitable solutions to ensure modern, sustainable, and climate change-adaptive housing development, in order to grow investment attraction and a healthy real estate sector.
More: Vietnam’s 4th wave of Covid-19 takes a toll on the real estate market
As stated by a report on residential real estate outlook 2021, Hanoi’s real estate price trend in 2021 will carry on owing to enhancing investment in infrastructure. SSI experts said that on top of improving metro lines, the continuous improvement of the inner-city road system and transportation system to suburban districts will positively impact land price and boost real estate demand.
Moreover, steel prices have increased by 45 percent, pushing input costs up, and resulting in higher prices for new apartments, shophouses, townhouses, and villas.
With the development of traffic infrastructure and increased steel prices, Hanoi’s housing prices are anticipated to spike due to a lower supply of apartments, shophouses, villas, and townhouses.
Recommended
Why Japan’s new interest rates might spark a transformation in Niseko’s property market
A new era for Niseko’s wintry property market dawns with the sunset of Japan’s negative rates regime
China’s property market shows signs of life as new government stimulus kicks in
The country’s property slump has been gruelling, but stimulus measures appear to be breathing life into the market
6 places to see in the island of Phu Quoc
The island’s remarkable transformation has helped make it one of Vietnam’s hottest investment prospects
This duo is revolutionising textiles by blending traditional craft with cutting-edge design
Ausara Surface brings unconventionality and innovation to experimental textile collections