More social housing projects:

Abundant supply of social housing

Ecohome social housing area (Bac Tu Liem district). Photo: Nguyen Quang

According to Deputy Director of the Vietnam Real Estate Market Research Institute Pham Thi Mien, the implementation of the Prime Minister's Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030" has shown many positive signs with the scale of completed and licensed projects, starting construction in 2024 increasing by 46% and 13.4% respectively compared to 2023, especially in cities with large housing demand such as Hanoi , Ho Chi Minh City, Hai Phong.

A review of some milestones in 2025 shows that the Hanoi housing market is welcoming many social housing projects, helping to increase the still limited supply. Specifically, at the end of February, the supply of social housing was supplemented from the number of apartments for rent that were eligible to be transferred to the transfer form at a number of old social housing projects. Accordingly, the Hanoi Department of Construction informed about receiving applications to buy social housing at the CT2A high-rise apartment project - Thach Ban Residential Area (Long Bien District) after 5 years of leasing (phase 1) with a total of 82 apartments, area of ​​69.03-69.94m². Then, in early March, the joint venture of Hanoi Housing Development and Investment Corporation (Handico) and Viglacera Corporation officially started the largest-ever project with 1,104 social housing apartments in plots CT3 and CT4 of Kim Chung New Urban Area (Dong Anh District). Also in 2025, Hanoi will welcome another social housing project in Thuong Thanh (Long Bien District) with an area of ​​over 6 hectares, a scale of 3 apartment buildings CT1, CT2, CT3, 22 floors high and 44 townhouses, invested by the joint venture of Him Lam Thu Do Joint Stock Company and BIC Vietnam Joint Stock Company.

Information from the Housing and Urban Development Corporation (HUD) shows that in the second quarter of 2025, the Corporation will start the CT-M2 social housing project in Van Canh New Urban Area (Hoai Duc District) and the CT-07 project in Thanh Lam - Dai Thinh 2 New Urban Area (Me Linh District). In the third quarter of 2025, HUD will start the CT-01+02 social housing project in Thanh Lam - Dai Thinh 2 New Urban Area (Me Linh District) and will continue to start the HH1 social housing project in HUD - Son Tay Urban Area (Son Tay Town) in the last quarter of the year.

According to statistics from the Hanoi Department of Construction, it is expected that in 2025, the city will have 11 completed social housing projects, providing nearly 6,000 apartments, and continue to start 5 projects with a scale of 10,220 apartments. The increasing supply of social housing is expected to help reduce housing prices in major cities to match people's financial capacity.

Positive signal for the market

Construction of social housing project in Ha Dinh Urban Area (Thanh Tri District). Photo: Quang Thai

According to the assessment of the Vietnam Real Estate Brokers Association, in 2024, apartment prices in Hanoi will increase sharply not only in new projects but also in used projects. Therefore, one of the ways to improve the selling price level of apartments is to improve the market supply, in which the increase in social housing supply will pull down the price level.

“When the supply of social housing increases, apartment prices will decrease to a level more suitable for people with real housing needs,” affirmed Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association.

According to Chairman of the Board of Directors of G6 Investment and Development Group Joint Stock Company Nguyen Anh Que, the housing supply in Hanoi will be abundant. From the end of 2025, the social housing fund will begin to exist, with about 4,000 units spread across districts. In the period of 2027-2029, the social housing and commercial housing fund will reach at least more than 300,000 units. Current housing prices are quite high, but if there is a lot of social housing and low-cost housing, the price level will be pulled down.

Mr. Nguyen Anh Que said that in the period of 2008-2010, there were apartment projects priced at 50-70 million VND/m². However, in 2011-2013, when the market saw the appearance of low-cost commercial housing projects and social housing projects, averaging at 11-15 million VND/m², apartment prices on the market immediately cooled down. From the above actual developments, if the old scenario repeats itself, housing prices may decrease from 2026. The reason is that housing projects in general and social housing projects in particular will begin to complete procedures, increasing supply in about 1 year, helping to cool down housing prices.

However, some experts also believe that when the supply of social housing increases, the price of commercial apartments will not necessarily decrease because each real estate segment serves a different group of customers.

Deputy General Director of Batdongsan.com.vn Nguyen Quoc Anh analyzed that the real estate market, like other commodity markets, is divided into many different segments: High-end, mid-range, and low-end. Buyers of mid-range and high-end apartments often have high demands on location, amenities, and quality of life. On the other hand, not everyone is eligible to buy social housing. Therefore, increasing the supply of social housing in the coming time is unlikely to have a strong impact on the prices of other apartment segments. However, this is a positive signal, helping to increase home buying opportunities for people and create more diversity and excitement for the market.

Source: https://hanoimoi.vn/them-du-an-nha-o-xa-hoi-gia-chung-cu-se-ha-nhiet-700405.html