The Ministry of Construction is finalising a plan on developing rental housing targeting low-income earners, according to Deputy Minister of Construction Nguyen Tran Nam.

The deputy minister said under the plan, there would be different rental packages to choose, ranging from monthly to long-term contracts with a term of six years to 12 years.

He said the rent would be around 2 million VND (95 USD) for a 40-45 sq.m. flat.

Deputy Minister Nam advised low-income earners to start with rental housing and then save to buy their own home later.

The State is doing the best to provide accommodation for all people, not housing ownership, the deputy minister said, adding that this job would take decades, not a few years, to complete.

The deputy minister said the rental housing plan is part of a draft decree on managing and developing social housing, which has been submitted to the Government for approval.-VNA