Promoting the development of rental housing, meeting actual housing needs
Hanoi is expected to implement 3 rental housing projects in Viet Hung, Long Bien and Phap Van - Tu Hiep, with a total capital of more than 34,000 billion VND, providing nearly 4,400 apartments. The projects aim to meet the housing needs of workers, laborers, officials, students and residential groups with real needs.
According to records at Phap Van - Tu Hiep residential area, buildings are being accelerated in renovation and conversion to rental housing. The project includes three buildings A2, A3 and A4. Among them, two buildings A2 and A3 are being renovated and converted from student housing to rental housing, expected to be completed in 2026. Building A4 is newly invested and expected to be put into use in 2027.
Ms. Tran Thu Hai (Hoang Liet ward, Hanoi) shared that previously the Phap Van - Tu Hiep residential area was abandoned causing waste, now it has been renovated and renovated into rental housing, so she strongly supports it. According to her, if there are quality, affordable rental housing projects, she also wants to rent to live in.
The draft revised Housing Law prioritizes the development of rental housing, gradually forming a stable and long-term market. The Ministry of Construction identifies this as a strategic segment, contributing to meeting housing needs, ensuring social security and stabilizing the real estate market.
Mr. Ha Quang Hung - Deputy Director of the Housing and Real Estate Market Management Department (Ministry of Construction) - informed that the ministry has requested localities to urgently review and comprehensively assess housing needs, especially rental housing and official housing; and at the same time identify housing models and types suitable to the actual conditions of each locality.
The Ministry of Construction requests localities to review and prepare clean land funds, invest in synchronous infrastructure and use the budget and the National Housing Fund effectively to develop rental housing.
Improving policies to ensure people's housing rights
Resolution 21-NQ/TW requires to stipulate the term of use of newly built apartments according to the construction year, and at the same time ensure the property rights of the owner.
Mr. Nguyen Van Dinh - Vice Chairman of the Vietnam Real Estate Association - said that this is an important orientation in completing the legal framework for apartment buildings, aiming to solve long-standing problems in the renovation and reconstruction of old apartment buildings, and at the same time improve the efficiency of urban land use. However, this policy also directly affects market psychology, people's property rights and the development trend of real estate segments.
According to Mr. Nguyen Van Dinh, the majority of Vietnamese people still consider housing as a long-term accumulated asset with hereditary value. The popular psychology from the past to present is to prioritize ownership rights and the long-term nature of assets. Therefore, just the appearance of information related to "limiting" these two factors can easily make a part of the population worried that apartments will only be of "long-term lease" nature.
If not fully informed and clearly regulated, this may affect home purchase decisions, especially for the apartment segment. At that time, part of the demand may shift to low-rise houses or land plots due to the psychology of prioritizing assets associated with long-term ownership.
Mr. Dinh assessed that the regulation of the term of use of apartments according to the lifespan of the project is a direction suitable for the requirements of modern urban development and project life cycle management, and can also contribute to removing bottlenecks in the renovation of old apartment buildings.
However, the effectiveness of the policy does not lie in regulations on the term of use of apartments, but in ensuring the property rights of people, the transparency of the implementation mechanism and the ability to build market trust. Accordingly, it is necessary to concretize the mechanism to ensure the property rights of apartment owners when the project expires, especially the right to participate in reconstruction, the right to arrange housing after the apartment building is rebuilt, as well as the mechanism for dividing financial rights and obligations. Only when these factors are ensured synchronously can the policy achieve the goal of sustainable urban development, while maintaining the stability and attractiveness of the apartment segment.
10,000 social housing for rent in Dong Nai
Dong Nai has 89 industrial parks and 68 industrial clusters planned, attracting more than 700,000 workers. However, many migrant workers still live in rented rooms lacking conditions to ensure health and security.
Ms. Vu Thi Duyen (43 years old) started working as a worker at TKG Taekwang Vina Joint Stock Company, Bien Hoa 2 Industrial Park, Tran Bien Ward, Dong Nai City from 2003, until now she and her son still have to live in a rented house with a price of 1.5 million VND/month but has deteriorated and dilapidated. Ms. Duyen said: "I want Dong Nai City to build more social housing for workers to rent to reduce difficulties, and at the same time ensure security and order conditions, have good facilities, and prices suitable for workers' pockets, realizing the dream of settling down and starting a career on Dong Nai land.
Ms. Duyen's wish is also the common thought of a large number of workers, especially migrant workers living in boarding houses.
From this reality, in June 2026, Dong Nai City started construction of the Long Binh Social Housing for Lease Project on a land area of about 1.52ha in Long Binh ward. According to the planning orientation, the entire area will develop about 10,000 social housing apartments for lease along with a synchronous social infrastructure system including schools at all levels, kindergartens, green parks and many public service works serving residents. The project implementation area is located in an area with many key industrial parks such as: Amata, Bien Hoa II, Ho Nai, Loteco and Agtex Long Binh. This is also an area with a very large demand for stable, safe and affordable rental housing for workers.
Phase 1 of the project includes 2 20-story apartment blocks with about 1,000 apartments for rent with areas from 30-70m2, total estimated investment of about 1,360 billion VND from the city budget. Project implementation time is 1 year from the time capital is allocated according to the plan. Representatives of the construction unit commit to mobilizing sufficient manpower, equipment, ensuring quality, progress, labor safety and bringing the project to completion on schedule. HA ANH CHIEN
