Vietnam has made significant progress in its social housing program, with more than 720,000 units currently under development nationwide, equivalent to 72% of the government's target of one million social housing units by 2030, according to the Ministry of Construction (MoC).
Speaking at the ministry’s second-quarter press conference on June 18, officials reported that more than 180,000 social housing units have already been completed.
Despite these achievements, challenges remain in the housing market. Mr. Ha Quang Hung, Deputy Director General of the ministry's Department of Housing and Real Estate Market Management, noted an oversupply of high-end housing while affordable homes remain scarce. Housing prices in major cities have risen far beyond average income levels, making homeownership increasingly difficult for workers. The market also lacks long-term rental housing, while existing incentives have not been sufficient to attract private investment in rental projects.
To address these issues, the MoC is promoting rental housing as a strategic pillar of social welfare through 2030. Local authorities have been urged to assess housing demand, particularly for rental and public-service housing, and prepare land reserves in urban areas, industrial parks, economic zones and high-tech parks.
The ministry also encourages local governments to invest in rental housing using local budget resources and to make effective use of local National Housing Fund resources to expand affordable rental housing supply.
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