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Thirteen organisations and property developers have pledged to build nearly 100,000 rental social housing units in HCM City in a move that aims to tackle a housing shortage that has left many workers and low-income residents priced out of the property market.
Việt Nam’s real estate market is facing a major imbalance, with an oversupply of high-end properties while affordable housing remains in short supply. The market structure continues to favour home sales over rental housing.
The Government is set to make rental housing a strategic pillar of its housing market as the Government shifts from an ownership-focused approach toward a model centred on housing access and use, according to Minister of Construction Tran Hong Minh.