Over 13,000 apartments built to relocate people whose lands were acquired for public works remain unoccupied, some for 20 years, with many deteriorating badly.
The 5,300-apartment complex was built for residents of Thu Thiem peninsula whose lands were acquired by the city to develop the Thu Thiem New Urban Area into an international financial hub.
The city government auctioned the relocation project with a reserve price of VND9 trillion ($354 million) in 2017 and VND9.9 trillion in 2021 but there were no takers.
The city Department of Construction said the relocated residents were given three options: money, apartment or land.
Since most people chose money, the relocation complex is unoccupied, it said.
The Vietnam Association of Realtors said some of the relocation projects are in remote locations and lack key features to attract residents such as schools, hospitals and markets.
Low-quality construction and design also make the apartments undesirable, it said.
