Nguyễn Tuân Viha complex on Nguyễn Tuân Street. Hà Nội has seven more projects that meet the criteria for trading in real estate under the Real Estate Business Law. — Photo viha-complex.vn

HÀ NỘI — The Hà Nội Department of Construction has published a list of seven projects that meet the criteria for trading in real estate under the Real Estate Business Law.

Of the seven projects, one is a social housing project and the remaining six are commercial. They are located in various districts across Hà Nội, including Thường Tín, Đống Đa, Nam Từ Liêm, Thanh Xuân and Long Biên.

In Thanh Xuân District, two projects are underway: the mixed-use Pandora complex in Triều Khúc and the mixed-use housing project at 107 Nguyễn Tuân Viha complex on Nguyễn Tuân Street.

Nam Từ Liêm District also has two projects: the construction of social housing on Tố Hữu Street and the construction of apartments as part of the new urban area project Tây Mỗ-Đại Mỗ-Vinhomes Park.

Additionally, there is the Miracle Tower, a planned office and housing development in Đống Đa District, a high-rise housing complex on plot CT7 in Long Biên District and a low-rise apartment project as part of the L.27 land use rights auction project in the Thường Tín area.

Hà Nội targets to complete 21,100 housing units this year with a total accommodation area of 4.110,000sq.m and 400 social housing units with an area of 28,000sq.m.

The capital city will concentrate on diversifying housing types to meet the demands of the population with various income levels while encouraging the growth of satellite towns and districts between 2023 and 2030.

However, a recent report of Savills Vietnam has indicated that the apartment market in Hà Nội continues to be challenging in the first quarter, with a decrease in primary supply by 4 per cent quarter-on-quarter and year-on-year, reaching 19,483 units. The average primary selling price was VNĐ52 million per square metre, up 22 per cent on-year.

Despite this, it is expected that the demand for housing will increase sharply in the future, with Hà Nội's urbanisation rate projected to reach 62 per cent by 2025 and 75 per cent by 2030.

In addition, the municipal construction department also published a list of projects that permit foreign individuals and organisations to own houses in the city, including high-rise housing C1-CT in An Lạc Green Symphony in Hoài Đức District, Thủ Đô II Co Ltd's commercial and service buildings in Nam Từ Liêm District and Lạc Hồng Investment Corp's high-class apartments in Bắc Từ Liêm District.

In total, there are eight such projects in Hà Nội to date, with sales capped at 30 per cent of the total number of residential apartments for each unit and block. — VNS