After three years, only a third of housing projects for low-income earners have begun construction and only a tenth have been completed.
| Housing projects seriously lag behind schedule |
The Ministry of Construction's Real Estate and Housing Market Management Bureau said that 103 projects were registered for the 2009-2012 period with a total investment of VND24.5 trillion (USD1.2 billion). The projects were expected to provide homes for nearly 250,000 people.
However until now, only 42 projects have begun construction of which only 10 projects have been completed, housing 13,000 people, just 5% of the proposed target.
Additionally, 133 housing projects that were supposed to provide accommodation for over 400,000 workers in industrial zones have also remained stagnant. With 62 completed projects, it can only offer shelter to 67,600 workers.
Workers are in need of a place to stay but the enterprises owners seems to be indifferent to the issue.
"Low-income people and civil servants aren't able to afford houses at current market prices." the Prime Minister Nguyen Tan Dung said at a meeting to review the housing projects for low-income earners on July 20.
He further said that housing should only cost VND150-200 million per 50 square metres.