The PM reafffirmed the Party and State’s commitment to ensuring affordable housing for all citizens, particularly the disadvantaged and vulnerable groups.

He called for revising decrees and regulations to foster a safe, healthy, sustainable, and equitable real estate market tailored to Vietnam’s socio-economic conditions and people's incomes.

The project is expected to be finished five months ahead of schedule, aiming to complete construction early in the third quarter of 2026, meeting the housing requirements for over 3,900 people.

A project to construct at least a million apartments of affordable social housing for low-income earners and workers in industrial parks in the 2021 – 2030 period was approved by the Prime Minister.

Most young people are ambitious and have a long career path ahead of them to generate income and repay loans. Typically, within 10-15 years, their earnings will double or triple, making such loans low-risk for banks, said HoREA

The supply of social housing in Vietnam is anticipated to increase significantly next year, driven by preferential policies and the Ministry of Construction’s (MoC) efforts to address obstacles hindering related projects, according to experts.

Demand for 50,000 dwellings remains unmet annually in Ho Chi Minh City, leading to pent-up demand, experts said.

Ho Chi Minh City and Hanoi have been listed as emergers in the Asia-Pacific region in the first Inclusive Cities Barometer recently released by Cushman & Wakefield, a leading global real estate services firm.

Prime Minister Pham Minh Chinh chaired a government meeting on the current development of social housing and housing for workers on March 16 morning from the capital city of Hanoi.

Despite the Government’s concerted efforts to address the challenges of the property market, the market won’t improve until the end of 2024 due to a lack of affordable housing, experts have warned.

A large-scale project to build at least one million social housing apartments for low-income people and industrial park workers before 2030 is underway. Current demand outstrips supply, causing some to press for faster action.

In order to effectively disburse a low-interest housing credit package of 120 trillion VND (5.11 billion USD), many experts recommended expanding the list of borrowers.

Construction of nearly 1,500 apartments for low-income people at two social housing projects has started in Ho Chi Minh City.

The Ministry of Construction has been asked to work with other ministries and sectors to draft and submit a plan to build at least 1 million apartments of social housing for workers and low-income earners between now and 2030 to the Government in August.

Two 12-storey dormitories for factory workers are under development in Thu Duc City, Ho Chi Minh City, capable of accommodating more than 1,000 people.

State-owned Viglacera Corporation on February 8 broke ground on a 250-ha industrial park and a 2,000-unit housing project for factory workers and experts in the northern province of Bac Ninh.

Ho Chi Minh City authorities are seeking 37.6 trillion VND (1.66 billion USD) to build affordable housing for workers over the next five years, of which State revenue will account for no more than 5 percent of the total investment, according to the Department of Construction.

Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai said the city plans to build one million units of affordable housing for low-income workers.

The Vietnamese real estate developer Nam Long Group has partnered with Japan's Nishi Nippon Railroad Co. Ltd in the EHome Southgate housing project in the Mekong Delta province of Long An.

Impact of COVID-19 pandemic and the rising cost of investment has led to sharp decline in the profitability of rental apartments and shophouses.