In the context of increasing real estate prices, the income does not keep up with the escalation speed of real estate, the problem of income needed to buy houses in Hanoi has become a matter of concern. In fact, the ownership of houses in Hanoi has become a significant challenge for workers with average income. Even, many people who have quite difficult income to touch the dream of settling when the house price is still constantly setting up a new ground.
According to research data from the Vietnam Real Estate Brokers Association (VARS), the minimum income is recommended to buy an average price apartment in Hanoi from 2.3 to 10 times higher than the revenue. Import the average of a household.
Vars cited the General Statistics Office, in the third quarter of 2024, the average income of labor in Hanoi reached 10.7 million VND/month. Assuming a household with 2 people of working age, the total household income will be about 21.4 million VND/month. Meanwhile, the average price of the apartment in Hanoi in 2024 was 70 million VND/m2, even newly opened projects were priced from 60 million VND/m2 or more. This means that to be able to buy a home in Hanoi, the minimum income needed ranges from 45 million to 210 million VND/month, depending on the region.
Mr. Nguyen Van Dinh - Chairman of Vars, Director of the Institute for Review of Vietnam Real Estate Market - said: “The distance between actual income and house prices is increasingly expanding, turning the dream of settlement Many people become far away. ”
The analyst, in the central districts such as Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung or Tay Ho, the annual minimum wage is needed for collateral higher than 3.7 to 8 times Compared to the average income of households in Hanoi. Meanwhile, in suburban districts such as Ha Dong, Bac Tu Liem or Long Bien, the house price is considered to be more accessible but still requires an income of 40-60 million VND/month to be able to own.
Based on the assumption that buyers can borrow 70% of the apartment value with an average interest rate of 8%/year for 20 years and the total installment payment does not exceed 40% of the minimum income and income to buy a house In areas such as Ha Dong, Long Bien, Nam Tu Liem, Bac Tu Liem or Gia Lam are still 2 to 3 times higher than the average income of workers in Hanoi. Meanwhile, in districts like Cau Giay and Thanh Xuan, the difference is from 3 to 3.5 times.
“This means that, although the average income has improved each year, it has not been able to catch up with the rate of house price increase. Buyers who want to own a home in Hanoi must accept a greater financial burden, spend less to save monthly installments, or look for more options far from the center at a lower price. ” speak.
However, moving to lower housing areas also requires buyers to consider infrastructure conditions, traffic connections and surrounding utilities to ensure the quality of life.
According to experts, besides income factors, support policies from banks and investors also play an important role in helping people easily access houses. Deploying preferential loan packages, extending loan time or reducing interest rates will help reduce financial pressure for home buyers. At the same time, investors also need to adjust the price more reasonable, offering products that suit the needs and ability to pay for the majority of people, in order to balance the supply - demand in the market Production.
