To reduce housing prices, National Assembly Deputy Tran Hoang Ngan (HCMC) said that a rental housing model would be a sustainable approach to housing needs.

The Ministry of Construction (MOC) has proposed applying home buyer loan limits of no more than 50 percent of housing value for second homes, and no more than 30 percent for third or more homes in an aim to control real estate prices.

Housing is increasingly out of reach for many families, as prices, already high, continue to climb, far outpacing wage growth. This has led couples to delay having children or to have fewer kids.

Prime Minister Pham Minh Chinh has issued an urgent directive calling for aggressive measures to boost housing supply, lower real estate prices, and stabilize the property market.

Despite increasing supply, Hanoi's housing market skews toward luxury developments, driving out real demand.

Even top earners in the banking sector are struggling to buy apartments as prices triple while salaries merely double over a decade.

Declining birth rates are shrinking household sizes, reducing demand for large homes, and transforming the structure of Vietnam’s real estate market, according to the Vietnam Association of Realtors (VARS).

"To buy an average house (70 sq m, priced at VND3-4 billion) in major cities, young people need 20-25 years of income," said Ha Quang Hung, Deputy Director of the Department of Housing and Real Estate Market Management.

Soaring prices, oversupply, and weak demand threaten Vietnam's property market stability.

As housing prices soar, experts call for urgent action to fix the supply imbalance affecting low-income citizens.

In Hanoi and HCM City, nearly 18,000 resettlement apartments remain vacant or are being used inefficiently, leading to the decay of entire infrastructure systems.

The Hanoi real estate sector has seen dynamic activity in Q3/2023.