Demand Soars as Hanoi Opens Affordable Housing Applications

Photo courtesy of VN Express

Hanoi residents formed long queues Sunday night to submit applications for affordable housing at the CT3 Kim Chung project in Dong Anh. As the developer began accepting applications Monday morning, hundreds had already gathered by the previous evening. The rush highlights the desperation of many aspiring homeowners hoping to secure one of the 1,104 upcoming apartments priced significantly below market rates.

This project offers housing at VND18.4 million (US$698) per square meter, a stark contrast to Hanoi’s commercial apartment prices, which average around VND70 million per square meter. Priority is given to applicants who don't own a home, earn low incomes, or work in defense and security. Social housing initiatives have gained momentum in Hanoi since last year, with several new projects launching to meet the growing demand.

Despite the increased development, the availability of affordable housing remains limited. The local Department of Construction reports that 16 projects with over 17,300 apartments have been planned between 2021 and 2025, but this only scratches the surface of the city’s housing needs. Similar scenes of people queuing overnight were seen in late October, demonstrating the persistent demand for reasonably priced homes.

Experts have proposed solutions to address these challenges. At an October meeting on social housing, Deputy Minister of Finance Do Thanh Trung suggested implementing an online registration system. This effort aims to streamline the application process and ensure fairer access to available units.

Looking ahead, as demand for social housing grows, the development of more projects and innovative application methods could become crucial. Authorities may need to explore further strategies to efficiently manage and distribute available units to meet the needs of lower-income populations, reported VN Express.

Key Takeaways

• Demand for affordable housing in Hanoi far exceeds supply.
• New initiatives aim to address housing needs by giving priority access.
• Proposals for online systems look to streamline application processes.

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  Adapted by ASEAN Now from VN Express 2025-11-19