Developer gets nod to build 20 sqm efficiency apartments

TN News

Email Print

Vietnam's Ministry of Construction has approved a proposal to develop 20 square meter apartments on a trial basis to meet the high demand for housing in Ho Chi Minh City.

The Dat Lanh Real Estate Company, which came up with the proposal, says these apartments, costing VND300 million (US$15,800) each, would be suitable for single people.

Vietnam's Housing Law stipulates that an apartment should have a minimum area of 45 sqm, but the Ministry of Construction said if demand for small-sized apartments is high, the city can carry out such a project on a pilot basis.

 RELATED STORIES

Critics, realtors divided over super small flats

Vietnam real estate needs diverse capital sources

The ministry has asked the municipal administration to study the demand for apartments of 20-45 sqm and provide guidelines for Dat Lanh to implement the pilot project.

Dat Lanh's proposal sparked a month long debate over the viability of super small apartments. Some experts slammed the idea on urban management concerns, while realtors welcomed it as a move to tap a promising market segment hitherto ignored by developers.

More Business News