In a show of high demand for affordable housing in Hanoi, individuals queued overnight during the past weekend to submit their applications for the social housing project, Calyx Residence. With the limited quantity of 466 apartments available in the development, applicants arrived well before the submission start time at 8:30 am on Sunday, in hopes of securing their chance at purchasing a home.
Applicants prepared for a long wait, bringing along food and water to endure the overnight queue in Hanoi’s chilly weather that dipped to 18-19 degrees Celsius. Among those was Tuan, a freelance worker, who arrived as early as 11 pm on Saturday to secure his place in line. Reflecting on the experience, he noted that just a few minutes could have been the difference between his application being accepted or rejected, making the overnight wait a necessary hardship.
By 6 am on Sunday, the queue had significantly grown. Bich, a resident of Phuc Thinh Commune, arrived at 7 am with her husband, only to find a considerably long line already formed. Despite the high demand that exceeded morning application numbers, those unable to submit their applications were allowed to register and apply the next day.
The Ministry of National Defense’s 319 Corporation, the project developer, acknowledged the situation and provided amenities such as tarps for shelter, drinking water, and dry rations for the people waiting in line.
The Calyx Residence project, which started construction late last year, is set on a 1.5-hectare plot. It will consist of four nine-story buildings and is projected to be completed by the end of 2026. The majority of the apartments, 419 units, will be sold directly, while 47 others will be subject to rent-to-own agreements. The prices range from VND824 million to VND1.5 billion, translating to approximately VND20.6 million per square meter, significantly less than Hanoi’s average apartment price of VND85.6 million per square meter.
Given the project’s prime location near Co Loa Road, a main artery in Dong Anh, and the rising prices of social housing, it is expected that the competition for securing an apartment in this development will be fierce.
Despite the launch of several social housing projects in Hanoi, the market remains dominated by commercial developments. This has led to an increase in prices for social housing units, which have risen from VND20 million to VND25-29 million per square meter over the past three years.
As part of a national plan to build at least one million social housing units, Hanoi is expected to contribute 56,200 units by 2030. The city has set a target to complete 4,670 units this year alone.
How many apartments are being built in the Calyx Residence project?
There are 466 apartments being built in the Calyx Residence project.
What measures were taken to accommodate the people waiting in line to submit their housing applications?
The project developer, the Ministry of National Defense’s 319 Corporation, provided amenities such as tarps for shelter, drinking water, and dry rations for the people waiting in line.
Who gets priority for purchasing the housing units?
Priority is given to those who do not own a house, people in low-income groups, and employees of defense and security agencies.
