Social housing prices increase sharply
According to data from Batdongsan.com.vn, in early 2024, the price of the Rice City project (old Long Bien, now in Bo De ward) had an asking price of about 2.32.4 billion VND/unit, an increase of 200 million VND compared to the end of 2023. After two years, up to now, the selling price of apartments here has doubled, at 4 billion VND/apartment or more.
In the same time period, the Hope Residence project (Viet Hung ward) also increased sharply from 2.12.3 billion VND/unit to 3.84.3 billion VND/unit. At the Thach Ban project (Long Bien ward), the price has increased from 2.12 billion VND/unit to 3.94.2 billion VND/unit.
The old Hoang Mai area witnessed a double increase. The @Homes project established a new price level of 4.75.2 billion VND/unit, while two years ago it was only 2.32.6 billion VND/unit. At Rice City Linh Dam (Hoang Mai ward), the current price is 4.95.3 billion VND/unit, compared to 2.32.5 billion VND/unit in early 2024.
A 70m2 apartment at the IEC Thanh Tri social housing project has an area of about 60-70m2, currently the selling price ranges from 2.9 billion to 3.78 billion VND.
Dong Mo Dai Kim social housing increased from 2.22.3 billion VND/unit to an average of 5 billion VND/unit.
Newly opened project reaches 30 million VND/m2
In the primary market, many social housing projects in Hanoi that are and are about to open for sale also recorded unprecedentedly high prices. In particular, the Rice City Long Chau project invested by the Him Lam Thu Do Joint Venture and BIC Vietnam Joint Stock Company is opening for sale at a price of nearly 30 million VND/m2 - the highest ever in the social housing segment.
There are currently 5 social housing projects being and about to open for sale in Hanoi, expected to launch from the fourth quarter of 2025 to early 2026:
Social housing in Kim Hoa urban area invested by Thanh Ha Construction and Trading Company Limited, including 4 9-storey buildings with 720 apartments, expected to be completed in the fourth quarter of 2027, with a selling price of about 21.2 million VND/m2.
CT1 Apartment Building, Thuong Thanh Social Housing Area, invested by Him Lam Thu Do - BIC Vietnam Joint Venture, includes 22 floors, 600 apartments, expected to be completed in the third quarter of 2027, selling price of 29.4 million VND/m2, open for sale from October 14 to November 4, 2025.
Social housing N01 Ha Dinh invested by the UDIC - Haweico - DAC Hanoi consortium, 25 floors high with 440 apartments, expected to be completed in the fourth quarter of 2027, priced at about 25 million VND/m2.
The CT3 project in the Kim Chung new urban area is jointly implemented by handico and Viglacera, including 3 buildings with 912 floors, 1,104 apartments, selling price of 18.4 million VND/m2, open for sale from 17.11.20253.1.2026.
Social housing in Dong Anh commune is invested by the Ministry of National Defense's 319 Corporation, including 4 9-storey blocks, 466 apartments, expected to be completed in the fourth quarter of 2026, with a selling price of 20.6 million VND/m2, open for sale from October 21 to November 25, 2025.
With a common price of 2030 million VND/m2, each apartment with an area of 6070m2 costs from 1.2 to more than 2 billion VND, a fairly high number compared to the payment level for low-income people.
Meanwhile, social housing prices in the secondary market have far exceeded, many places even approaching 5 billion VND/unit, reflecting the increasingly large imbalance between market policies and reality.
Need to re-establish the structure of the housing market
According to Dr. Tran Xuan Luong - Deputy Director of the Institute for Real Estate Market Research and Evaluation (VARS IRE), it can now be affirmed that social housing has not been successful due to the lack of clear layering in housing fund development policies.
In fact, we must have three housing funds: commercial housing for high-income groups; stabilization housing for middle-income groups - sold within the prescribed price range, each person can only buy once; and social housing for disadvantaged groups, meritorious people, armed forces, people with disabilities... This fund does not sell but only rents or leases to buy, Mr. Luong stated his opinion.
According to him, the stable housing group needs to be designed so that workers can buy after 1015 years of accumulation, while traders should aim for high standards, associated with real market value.
