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Vietnam Business » Vietnam Real Estate Market News » Developer Proposes to Allow 20m2 Studio Flat on High Demand

Developer Proposes to Allow 20m2 Studio Flat on High Demand

Dat Lanh property developer has sent documents to seek the Ministry of Constructions approval for a pilot plan to build 100 studio flats with an area of 20m2 each, the online newspaper Dan Tri reported May 20. The proposal came after the developer introduced model flats of 20m2 for single household and 40m2 for couple in Thai An apartment, district 12, Ho Chi Minh City and conducted a market demand survey.

Dat Lanh survey found that Vietnam has 25% of population from 18 to 34 years old of which 50% are single, a great potential customers for the studio flat product, and 80% of the correspondence supported the project.

The survey also found that with the average price of VND15 million/m2, it is out of reach for most low incomers to buy 40m2 flat but affordable for them to buy 20m2 one.

The model 20m2 studio flat is 2.8m x7m, including kitchen, toilet, balcony, and a bed which serves as working and dining table, too.

Though Ho Chi Minh City Construction Department warned of 2005 housing law ban which set the minimum commercial flat area of 45m2, it welcomed Dat Lanhs new idea, and property specialists said it is worth paying attention.

Nguyen Thu Phong, deputy chairman of Ho Chi Minh Citys Architecture Association, shared that studio flat is very popular in the world for single households but he warns of possibility that these flats will turn to be slums.

The final decision for this kind of flat to live comes from the Ministry of Construction.

Vietnam Business And Financial News Network. Source [stox.vn]

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