Business

Vietnam needs more affordable housing

Vietnam should draft policies to encourage the development of affordable rental housing in an effort to resolve the severe shortage of housing for low-income earners, experts said.
Vietnam needs more affordable housing ảnh 1

Illustrative image (Source: nld.com.vn)

Hanoi (VNA) -Vietnam should draft policies to encourage the development of affordable rental housing in an effort to resolve the severe shortage of housing for low-income earners, experts said.

Affordable rental housing projects, in fact, could be counted on the fingers of one hand, and could meet only a modest part of the demand. Applications for renting these apartments always outnumbered the available rental apartments.

Vu Thi Lan Anh, deputy general director of CEO Group, was quoted by Kinh Te Do Thi online newspaper as saying that only 86 apartments of the group’s Bamboo Garden social housing project are to be leased out at the intended price of 48,000 VND (2.2 USD) per square metre per month. But the number of applications for renting homes is several times higher.

According to Nguyen Tran Nam, chairman of the Vietnam Real Estate Association, this proves that there is a thirst for affordable rental apartments. However, due to the slow capital recovery and lack of incentives few developers are showing an interest, Nam said.

Property expert Dang Hung Vo said that affordable rental housing development has become critical for Vietnam as many low-income earners cannot afford a house even with preferential loans and many are not eligible for banking loans. Policies should be raised to encourage developers, he added.

According to the Vietnam Federation of Civil Engineering Associations, in developed countries, rented homes often accounted for more than 40 percent. In Vietnam, people generally preferred to own a home rather than live on rent.

Economic expert Ngo Tri Long said that developing social rental housing projects would contribute to changing the Vietnamese habit of owning a house. Long said that clear legal framework coupled with responsibilities of renters to be specified is needed to encourage property developers to invest in this segment.

Experts said that land is one of the biggest problems in developing affordable rental housing projects, given the limited land resources in urban areas.

According to the Ministry of Construction, by 2020, Vietnam will need around 1 million apartments for low-income earners but the current supply is only at around 10,000 units per year.-VNA

VNA
#affordable rental housing #housing projects #preferential loans #land resources
Follow VietnamPlus

Related News

Property information to be made public

Property information to be made public

The legal status and progress of properties will be made available to the public in order to reduce the risks for home buyers, according to an HCM City official.
HCM City: more apartments, less demand

HCM City: more apartments, less demand

More than 10,000 apartments were put for sale in Ho Chi Minh City in the second quarter of 2016, of which just over 5,800 units were sold, according to property service firm CBRE Vietnam.
Property market recovering: forum

Property market recovering: forum

The property market will continue recovering but experts told an online forum held by Dau Tu (Investment) newspaper recently that they do not expect breakthroughs in the second half of this year.

See more

Visitors explore Vietnamese products at WorldFood Moscow 2026. (Photo: VNA)

Vietnamese goods step up market expansion in Russia

The Vietnamese participants are showcasing a wide range of products, including beverages, fresh and dried fruit, processed foods, instant foods and dipping sauces, while seeking distribution partners, expanding their market presence and increasing brand recognition in the country.

A Vietnamese manufacturer showcases a modern production line at VietnamPrintPack 2026. (Photo: VNA)

VietnamPrintPack 2026 kicks off in Ho Chi Minh City

VietnamPrintPack 2026 serves as a hub connecting the supply chain, showcasing breakthrough solutions in automation, digital printing, radio-frequency identification (RFID)-integrated smart packaging, and eco-friendly materials across Vietnam's industrial landscape.

Gemalink International Port in Ho Chi Minh City is one of the strategic seaports for industry, trade and global integration. (Photo: VNA)

Vietnam deepens global supply-chain integration

Deputy Minister of Industry and Trade Phan Thi Thang said Vietnam remains a top priority for international corporations and buyers seeking new sources of supply, thanks to its 17 FTAs, stable investment environment, improving production capacity and strategic location in Southeast Asia.

Illustrative image (Photo: VNA)

Vietravel Airlines resumes Hanoi – Da Lat route

Resuming the route is part of the carrier's year-end operating plan. It's a concrete step toward optimising the airline's domestic network, and a sign of its commitment to helping Lam Dong province revitalise tourism following the airport upgrades, its representative said.

Prof. Tan Jian Ping, Director of the Centre of Excellence for Sustainable Technologies for Agricultural Advancement and a Zero-Waste Economy (STARGAZE) at Xiamen University Malaysia (Photo published by VNA)

Vietnam, Malaysia see potential for smart agriculture cooperation

Prof. Tan Jian Ping, Director of the Centre of Excellence for Sustainable Technologies for Agricultural Advancement and a Zero-Waste Economy (STARGAZE) at Xiamen University Malaysia (XMUM), said NAP 2.0 focuses on applying Industry 4.0 technologies, including the Internet of Things (IoT), unmanned aerial vehicles, artificial intelligence (AI), automation and biotechnology.

The 30th Export Day draws representatives from various organisations and businesses in Argentina. (Photo: VNA)

Vietnam, Argentina eye broader Mercosur access amid free trade push

During the 30th Export Day, organised on September 15 in Buenos Aires by the Chamber of Exporters of the Argentine Republic (CERA) under the theme "New Export Frontier: The Transformation Underway," Vietnamese Ambassador to Argentina Ngo Minh Nguyet highlighted that Vietnam considers Argentina and Mercosur important partners in South America and sees broad potential to deepen trade and investment ties.

Drone is used in seeding, fertilising and pesticide spraying (Photo: VNA)

Greening agriculture through low-emission crop production

The scheme to sustainably develop 1 million ha of high-quality, low-emission rice in the Mekong Delta by 2030 is advancing, said Nguyen Quoc Manh, Deputy Director of the Department of Plant Production and Protection at the Ministry of Agriculture and Environment.

DACE launches organic spice processing, preservation and export plant in Cao Bang (Photo: VNA)

Cao Bang develops organic farming zones linked to European markets

Around 2,353ha of farmland in the province meets organic standards, including more than 2,332ha of spice-growing areas cultivating cinnamon, star anise and ginger that have obtained internationally recognised certifications such as USDA (US), EU and JAS (Japan).

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.