Vietnam's Vingroup to build 500,000 affordable houses by 2030

Apartment prices soar in big cities, demand for 'social housing' rises

20250210 HMC

High-end apartments in Ho Chi Minh City. A lack of affordable housing in Vietnam makes home ownership out of reach for many ordinary people. (Photo by Yuki Kohara) 

Nikkei staff writers

TOKYO -- Vietnam's conglomerate Vingroup pledged last week to build half of the government's goal of 1 million affordable housing units.

The move comes as Vietnam's surging home prices and limited supply of affordable housing has been preventing many from owning property, and the speed of building social housing projects has also been slow. Social housing refers to cheap dwellings sold to people who meet certain low-income or employment requirements.

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