BUDGET HOUSING STILL IN SHORT SUPPLY

The real estate market remained unstable in January-September this year, with social housing and low-cost commercial apartments still in short supply, according to the Ministry of Construction.

While there were no new housing projects approved in the third quarter of the year, only 12% of the 3,600 available housing units for sale during the quarter were priced at VND2 billion each. Housing units costing more than VND4 billion each accounted for 85% of the total.

Hanoi City saw a record-breaking 15 straight quarters of condo housing prices soaring. It is even expected to reach the capacity limit in the VND2-billion housing category.

In HCMC, the housing segment with prices lower than VND2 billion per unit saw no supply in 2021 and the first nine months of 2022. However, the city saw a surge in high-end apartment supply. Luxury housing made up 25.5% of the market supply in 2017, 67.1% in 2019 and 72.0% in 2021.

Between January and September this year, the figure rose to 80.2%.

Additionally, market disinformation has been spread by intermediaries, entailing a housing rush and challenging homebuyers’ affordability.

“The typical residential housing price is now 20 times higher than the average annual income of an average person,” said the HCMC Real Estate Association.

According to the Ministry of Construction, some 400 projects providing roughly 450,000 social and low-cost housing units have been implemented in many localities, particularly in Hanoi, HCMC and Binh Duong Province.

The number of under-construction projects accounted for 34.4% of the total.

In total, the country has built about 300 social housing projects, with the combined floor space of eight million square meters.

Still, the construction of housing projects has faced hurdles in terms of administrative red tape, added the ministry.

According to the authorities, the rising cost of construction materials and a lack of businesses’ labor and capital have also impeded the project’s implementation.

Source: The Saigon Times

Related News

MEMBER CORNER / PROMOTIONS

KNIC ENGAGES WITH GOVERNMENT AND HIGH-TECH BUSINESS COMMUNITIES IN CHINA

From Beijing to Shandong, KN Holdings and KN Industrial City are continuing to expand their engagement with government authorities, trade promotion organizations, and high-tech business communities in China. In Beijing, the delegation met with the Center for International Economic and Technological Cooperation under the Ministry of Industry and Information Technology (MIIT), exchanging perspectives on industrial and technology cooperation between the two markets.

Sep 24, 2026

VIETNAM ECONOMY INVESTMENT

VIETNAM’S TRADE TOPS $825 BILLION BY MID-SEPTEMBER

Figures released on September 21 showed goods trade reached nearly $55 billion in the first 15 days of September alone, bringing cumulative turnover since the beginning of the year to more than $825 billion. The strong growth reflects robust trade flows, with demand for consumer goods and production inputs remaining high.

Sep 23, 2026

TECHNOLOGY

VIỆT NAM'S BUSINESSES MOVE TOWARDS AI AGENTS

Việt Nam’s AI landscape is entering a new phase as businesses move beyond generative AI (GenAI) tools designed to assist human users towards autonomous AI, agentic AI and AI agents that can take action with limited supervision, experts have said. The shift comes as Việt Nam seeks to accelerate science and technology, innovation and digital transformation under Politburo Resolution 57-NQ/TW, issued on December 22, 2024.

Sep 23, 2026

GARMENT / TEXTILE

VIỆT NAM TARGETS $48 BILLION IN TEXTILE-GARMENT EXPORTS

Việt Nam’s textile and garment industry is facing both opportunities and challenges amid complex and unpredictable developments in the global market, prompting businesses to improve growth quality, optimise production costs and enhance adaptability in pursuit of an export turnover of about $48 billion this year. The target is considered an important milestone that requires concerted efforts from management agencies and the business community.

Sep 23, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

CUTTING LOGISTICS COSTS KEY TO BOOSTING EXPORTS

Reducing costs has become an increasingly urgent priority for import-export activities, particularly logistics costs, a conference in Hà Nội was told on Tuesday. According to Deputy General Director of the Ministry of Industry and Trade's Agency for Foreign Trade, Trần Thanh Hải, import-export activities has remained a bright spot for the economy in recent years, playing an important role and helping drive macroeconomic growth.

Sep 23, 2026

LEGAL UPDATE / POLICY

FLEXIBLE FISCAL POLICY HELPS DRIVE ECONOMIC GROWTH

Việt Nam’s fiscal policy has been implemented in a targeted expansionary manner since early 2026, helping maintain macroeconomic stability and supporting the country’s goal of achieving double-digit economic growth. According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at VNĐ2.02 quadrillion (US$77.7 billion), equivalent to 80 per cent of the annual estimate and up 16 per cent year-on-year.

Sep 23, 2026