Vietnam completed 170 social and rental housing projects with 46,497 units in the first nine months of the year, Ha Quang Hung, Deputy Director of the Ministry of Construction’s Department of Housing and Real Estate Market Management, told the ministry’s press briefing in Hanoi on October 15.
The figure represents 48% of the annual target. It includes 38,183 units for sale or rent-to-own and 8,314 rental units.
Construction began on 128 projects with 183,293 units during the period, including 140,492 social housing units and 42,801 rental units. The ministry expects 87,601 units to be completed by the end of 2026, including 69,552 units for sale or rent-to-own and 18,049 rental units.
Hung said rental housing should be treated as a long-term strategic segment serving a large number of citizens, in line with directions from Party, State and Government leaders.
Rental apartments are being prioritised in major urban areas, industrial parks, economic zones, key economic areas and important economic corridors. Housing development is to be coordinated with land-use plans, transport networks, industrial parks and labour markets, especially in transit-oriented development areas.
The policy is intended to widen housing options, particularly for people who cannot afford to buy, and help stabilise the property market. The State will play an enabling and regulatory role, allowing developers a reasonable profit while keeping rents affordable.
The ministry is studying how to incorporate these directions into housing policy and legislation. Under the proposed framework, urban and rural plans would have to set aside land for rental housing in special-class, Grade I and Grade II urban wards, transit-oriented development areas, and sites near industrial parks, export processing zones, universities and colleges.
Provincial authorities will be responsible for pooling resources for compensation, support and resettlement, as well as preparing clean land for projects. Proposed incentives include exemptions from land-use fees and land rent within project boundaries, tax breaks, preferential loans and support for technical infrastructure connections.
Subject to legal conditions, developers could devote part of a project’s area to commercial housing or service and commercial facilities to supplement revenue.
According to the ministry, Vietnam has 947 social housing projects in the pipeline, totalling 910,933 units, with estimated investment of 841.338 trillion VND (32.35 billion USD). Of these, 363 projects with 216,626 units are complete, 293 projects with 363,065 units have broken ground, and 291 projects with 331,242 units have received in-principle investment approval.
Units in projects that are complete, under construction or approved in principle account for 91% of the goal of building at least 1 million social housing units.
To speed up delivery, the ministry asked localities to include social and rental housing targets in their socio-economic development plans and prepare specific roadmaps covering projects, timelines and resources.
Sources: VietnamPlus / Vietnam News Agency
