Developing rental housing from the National Housing Fund.

The photo is for illustrative purposes only.

Notably, the fund will invest entirely in the construction and development of rental housing, not in selling for long-term ownership. The idea of developing rental housing in a systematic and stable manner has been mentioned many times in recent years. However, in reality, except for the high-end segment for foreigners or those with above-average incomes in major cities, rental housing remains mostly temporary accommodation lacking adequate infrastructure and services.

Rows of cramped, secluded boarding houses or, more decently, mini-apartments—essentially houses in alleyways divided into self-contained rooms—are the two most common types of rental housing in major cities today.

Everyone desires a safe and stable apartment, however small. But with apartment prices reaching hundreds of millions of VND per square meter today, many people's dreams have to be put on hold.

"With a monthly salary of around 20 million VND, and current house prices, buying a house is impossible because they're too high. With that income, I might be able to build a normal house in my hometown," shared Mr. Dinh Cong Dien, a tenant.

For low-income individuals who haven't yet saved enough money to buy their own home, a stable supply of rental housing is essential.

Ms. Tong Thi Hanh, Director of the Department of Housing and Real Estate Market Management, Ministry of Construction, stated: "The Ministry of Construction has assigned tasks to relevant units to establish the necessary organizational structure so that the housing fund can quickly become operational and invest in construction to create a supply of housing."

"Major countries have considered and implemented national housing funds, and we are taking the right steps to help reduce pressure on housing prices," assessed Ms. Do Thu Hang, Senior Director, Consulting and Research Department, Savills Hanoi .

According to the Ministry of Construction, the National Housing Fund will receive and repurpose public housing; it is permitted to purchase, order, or receive housing transfers from 100% state-owned enterprises. The fund's unique objective is to rent only, not sell, meaning this housing source does not disappear but becomes a long-term public asset, passed down through generations.

Many believe that once the National Housing Fund is operational, with its supply of rental apartments, the biggest change will be that people can live comfortably in long-term rental apartments at reasonable prices, without worrying about landlords raising rent or being evicted, forcing them to constantly change residences. Many people are also interested in knowing how the National Housing Fund will be implemented.

"For the national housing fund established by the State, businesses participate as investors in housing construction and then supply housing to the National Housing Fund through purchase and ordering. The Fund will help realize social welfare policies, and at the same time, residents can have long-term residency in a fully equipped rental home with complete amenities and infrastructure," added Ms. Tong Thi Hanh, Director of the Department of Housing and Real Estate Market Management, Ministry of Construction.

Source: https://vtv.vn/phat-develop-nha-cho-thue-tu-quy-nha-o-quoc-gia-100251212070637916.htm