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

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIỆT NAM-CAMBODIA TRADE GATHERS PACE TOWARDS $20 BILLION TARGET

Trade between Việt Nam and Cambodia continues to grow, remaining a bright spot and a key pillar of bilateral cooperation as the two countries aim to raise two-way trade to US$20 billion in the coming years. After setting a record of more than $11.3 billion last year, bilateral trade reached about $8.7 billion in the first eight months of this year, up 8.3 per cent year on year.

Oct 14, 2026

TECHNOLOGY

AI BEGINNING TO RESHAPE RECRUITMENT CRITERIA

Digital literacy is the only capability area in which fresh graduates meet employers’ expectations, according to a new report. Yet, it is also the standard rising fastest, as businesses increasingly expect new hires to use AI effectively in the workplace. Some 83 per cent of employers say AI has changed, or is beginning to change, their hiring criteria, while 94 per cent report higher expectations for digital and AI capabilities than they had two to three years ago.

Oct 14, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

ĐÀ NẴNG GREEN-LIGHTS US$105 MILLION THAI DEVELOPMENT DEAL

The central city has approved an investment proposal by Thailand’s WHA Group to develop infrastructure for the 400ha WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million). The city said it approved WHA Industrial Development International's status as an investor in the project, which is expected to take place between 2027 and 2034.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

MOBILE PHONE EXPORTS RISE 20% TO $51.8 BILLION IN FIRST NINE MONTHS

Exports of mobile phones and components rose 20 per cent year-on-year to nearly US$51.8 billion in the first nine months of 2026, with China, the US and Republic of Korea accounting for more than half of the total. Shipments to the three markets reached a combined $26.18 billion, or 50.6 per cent of total exports of the product group during the period, according to data from the Vietnam Department of Customs under the Ministry of Finance.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

FRUIT AND VEGETABLE EXPORTS POISED TO HIT $10 BILLION IN 2026

Fruit and vegetable exports are on track to reach nearly US$10 billion in 2026, after rising 19.9 per cent year on year to nearly US$7.4 billion in the first nine months, driven by strong seasonal demand and abundant tropical fruit supplies. The Ministry of Agriculture and Environment said the growth reflected stronger international demand for fresh produce and processed agricultural products.

Oct 14, 2026

GARMENT / TEXTILE

TEXTILE EXPORTS FACE DUAL CHALLENGES OF SUSTAINING ORDERS AND BOOSTING EFFICIENCY AMID GROWING COMPETITION

Data shows that the textile and garment sector maintained its growth momentum in the first nine months of this year. The industry's total export turnover reached an estimated US$35.721 billion in the first nine months of this year, up 3.3 per cent year-on-year. Despite posting encouraging export figures, Vietnamese textile and garment enterprises continue to navigate unpredictable market variables.

Oct 14, 2026