Housing supply in Hanoi improved

VTV.vn - According to the Hanoi Department of Construction, since the beginning of the year, the city has had 33 real estate projects eligible for sale.

Illustration photo.

These projects will provide the market with more than 30,000 products, mainly apartments. Since the operation of the two-level local government in July, the market has also recorded a number of projects that have completed legal procedures.

According to the Vietnam Real Estate Association, since the beginning of the year, Hanoi has continuously reviewed and sought to remove obstacles for investment projects, including many housing projects.

Mr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association commented: "Hanoi has made great efforts to remove two batches of nearly 300 projects. The imbalance of supply and demand has caused real estate prices to skyrocket as they are now, so bringing projects to market early and increasing supply faster will be better for the market and will reduce that pressure."

The process of improving housing supply in Hanoi is also supported by the operation of two-level local government. Many procedures are shortened or combined, not having to go through multiple levels of approval as before.

It is noteworthy that the current housing supply in Hanoi is being improved in the direction of regional diversification, expanding from the urban core to satellite areas and suburban communes with abundant land funds.

This trend is also being implemented with social housing projects, which require large land funds. Instead of building projects interspersed in residential areas, with only 100 - 200 apartments, now, projects planned for up to 2,000 - 3,000 apartments have appeared.

Mr. Ngo Dang Quyen - Hanoi City said: "Housing prices in Hanoi's inner city are very high, but in new areas, prices are still cheap. Planning of regional connecting routes has received strong attention from the city recently."

But to develop urban projects and attract people to live there, transport infrastructure is the most important support. Currently, a series of large key projects have been and are gradually taking shape, helping to expand space for housing projects such as National Highway 32, Metro lines, Tay Thang Long road...

Improved housing supply, diversified segments, and more evenly distributed across areas are expected to bring housing prices in Hanoi to a more reasonable level in the coming time.

Source: https://vtv.vn/nguon-cung-nha-o-tai-ha-noi-duoc-cai-thien-100251021152818245.htm