New Ratio for Luxury Residential Project

The Public Works and Housing Ministry will issue a new regulation on luxury residences and affordable housing in a balanced residential project. The new rule allows the developers to choose one of three proposed schemes in developing housing projects and, hopefully, enables the companies to keep generating profits while fulfilling their duty to establish mandatory affordable housing.

In the first scheme, the developers can use one luxury residence, two middle-class houses, and three affordable houses proportion. The second scheme will be one luxury house and at least three affordable houses, while the third scheme allows them to develop two middle-class residences and at least three affordable dwellings. The government will also authorize the developers to build flats if they struggle to find suitable lands in one condition: they must prove it by providing a recommendation letter from the related regional administration.