Hanoi Times Headlines: Ecohome 3 Offers Social Housing Ownership to Tenants
Ecohome 3: A Community-Centric Initiative. Image credits: Capital House
In a recent development, tenants of the Ecohome 3 project in Dong Ngac Ward, Bac Tu Liem District, are empowered with the opportunity to become homeowners. After a five-year rental term, these individuals now have the option to purchase their social houses at a competitive rate of VND16.3 million (approximately $624) per square meter, as confirmed by the Hanoi Department of Construction. This price is inclusive of value-added tax (VAT) but does not factor in maintenance fees.
Currently, these apartments are rented at a rate of VND73,155 ($2.8) per square meter per month, VAT included. The units vary in size, ranging from 39.9 to 69.7 square meters. It is important to note that only current tenants of these specific apartments are eligible to apply for purchase.
Ecohome 3 is a comprehensive project, boasting over 1,450 apartments. Out of these, approximately 1,000 are social housing units available for sale, accompanied by 181 commercial units, and the remaining designated for social housing leases.
For those seeking similar opportunities, the CT2A building in the Thach Ban Social Housing Complex is also open for sales. Located in Thach Ban Ward, Long Bien District, the sale price is set at VND12.2 million ($467) per square meter, VAT inclusive. With a monthly rental rate of VND40,000 ($1.53) per square meter, applications for CT2A are accepted until July 15. The building comprises a mix of 414 apartments, including social housing units for sale and rent, along with commercial spaces.
In other news, the Rice City Long Chau complex in Thuong Thanh Ward, Long Bien District, has made headlines with its social housing units priced between VND26 million and VND27 million ($997 to $1,035) per square meter. This price range sets a new record for social housing projects in Hanoi. With construction expected to be completed by the fourth quarter of 2027, the smallest unit starts at VND864 million ($34,000), while the largest is estimated at VND2 billion ($76,710).
The aforementioned prices underscore the evolving landscape of social housing in Hanoi, with previous high-water marks set by projects such as UDIC Ha Dinh in Thanh Tri District (VND25 million or $959 per square meter) and NHS Trung Van in Nam Tu Liem District (VND19.5 million or $748 per square meter).
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