Abundant supply of social housing
Hanoi continues to welcome a new social housing project in early March. Accordingly, the Joint Venture of Hanoi Housing Investment and Development Corporation (Handico) and Viglacera Corporation officially started construction of 1,104 social housing apartments at lots CT3, CT4 in Kim Chung New Urban Area (Dong Anh District, Hanoi).
In 2025, Hanoi will welcome 2 new social housing projects in Long Bien. It is known that these two social housing projects in Thuong Thanh social housing area have an area of over 6 hectares, with a scale of 3 CT1, CT2, CT3 apartment buildings with 22 floors and 44 townhouses, invested by a joint venture of Him Lam Capital Joint Stock Company and BIC Vietnam Joint Stock Company.
Previously, at the end of February, the supply of social housing in Hanoi continued to be supplemented. This supply does not come from new primary projects but from the number of rental apartments eligible to be transferred in some old social housing projects.
The Hanoi Department of Construction informed about the receipt of applications for purchasing social housing at the CT2A high-rise apartment project - Thach Ban residential area, Long Bien district after 5 years of lease (phase 1) with a total of 82 apartments, area from 69.03 - 69.94 m2. The estimated selling price (including 5% value-added tax (VAT), excluding 2% maintenance cost) is about 12.3 million VND/m2.
In addition to the above project, in the social housing project on land lots NO1, N02, N03, N04 and N06 of Dang Xa 2 and Gia Lam new urban areas (building D15, D16), there are continued to 270 social housing apartments converted from rent to sell, with areas ranging from 44.75 - 69.38m2.
Social housing becomes a "bright spot" of the market
According to experts, in the context of the real estate market facing a serious imbalance between supply and demand structure, especially the scarcity in the affordable housing segment, increasing the supply of social housing is an essential solution.
Mr. Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors, said that the number of social housing projects increased significantly in 2024 and in early 2025, becoming a "bright spot" in the real estate market. The coming into effect of Decree 100 and the Housing Law (amended) has removed many obstacles, promoting the supply of social housing. The new regulations in this law not only help businesses develop social housing more conveniently but also better support buyers.
It is expected that from 2025, many businesses will participate in developing social housing, helping to increase the supply of this segment in the near future.
Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, also commented that the amended Housing Law brings more incentives to businesses oriented towards developing social housing, especially with open mechanisms and clear support policies.
Since the end of 2023, apartment prices in Hanoi have continuously increased sharply, not only in new projects but also in used projects. According to Mr. Nguyen Van Dinh, one of the ways to improve apartment prices is to increase the supply of social housing.
When the supply of social housing increases, apartments at more reasonable prices will help reduce the average price of the apartment segment, while meeting the needs of low-income people. Mr. Dinh predicts that when social housing is strongly implemented, apartment prices will decrease to a level more suitable to the financial capacity of people, especially those with real housing needs.
