Many young people choose to rent high-quality houses instead of bearing debts to buy houses

Many young people choose to rent houses for a long time

Convenience, reasonable price" is what Ms. Nguyen Thu Huyen (27 years old, working in communications) felt after many years of living in an apartment for rent in Bach Mai ward (Hanoi).

With an income of 25 million VND/month, Ms. Huyen spends about 6 million VND each month to rent an apartment including 1 living room and 1 bedroom, meeting daily living needs. The remaining money is used by her to invest in herself such as participating in courses, health care, saving deposits and supporting her family.

I don't put much emphasis on buying a house. Because currently apartment prices in the city are very expensive, many small apartments are priced from 4-6 billion VND. Besides, rising house prices and rising interest rates put great financial pressure. With my current income, I will have to save for decades, borrow money from banks and continue to bear the pressure of paying debts. Instead, I choose to rent a house for a long time. Thanks to that, I can freely choose a suitable place to live and save money to spend and invest for myself," Ms. Huyen shared.

Similarly, Mr. and Mrs. Tran Van Duc (Thanh Xuan ward, Hanoi) also chose the option of long-term rent. Currently, his family has a young child. With a total income of more than 50 million VND/month, the couple spends about 10 million VND/month to rent an apartment with 2 bedrooms.

According to Mr. Duc, if buying a house, he and his wife will have to borrow more from relatives and friends, and also suffer pressure from bank loans in the context of high interest rates. Meanwhile, renting a house helps the family be more proactive in spending. The couple can allocate financial resources for daily living, investing in children and travel plans.

Developing the rental housing segment

Data from the Vietnam Real Estate Market Research and Evaluation Institute (VARS IRE) shows that more than 60% of young people under 35 years old in large cities are choosing to rent houses because they do not have enough financial resources to own real estate.

In addition, the ability to own a house in large cities is becoming a problem that needs to be prepared more carefully in terms of finance. With a 70 m2 apartment in the central area priced at about 7 billion VND, a household with two workers belonging to the current high average income group (according to a report by the Hanoi Department of Home Affairs, the average income of the group of enterprises with the highest salaries in 2025, the FDI sector, reached nearly 112 million VND/person/year) still has the opportunity to own a house through the accumulation process, but the time to prepare resources tends to be longer than before.

Ms. Pham Thi Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - said that identifying rental housing as an important pillar will contribute to forming a more professional, systematic, safe and long-term stable market. At that time, the concept of "settling down and starting a career" will also be expanded, when people do not necessarily have to own houses but can still feel secure living through renting quality houses.

Lawyer Nguyen Van Dinh - Hanoi Bar Association - said that to develop social housing for rent, there needs to be direct participation of the State, this is also a common characteristic for important areas that need to be implemented to solve social security needs but are less attractive in terms of profit, leading to private sector disinterest. Resolution 201/2025/QH15 of the National Assembly and Decree No. 302/2025/ND-CP of the Government have allowed the establishment of the "National Housing Fund" which is a non-budget state financial fund to invest in creating social housing for rent.