The social housing market in Ho Chi Minh City continues to see expanding supply as two highly anticipated projects have officially announced their selling prices, following the completion of statutory appraisal and price-determination procedures.
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Ly Thuong Kiet Social Housing Project
The Ly Thuong Kiet social housing project, located in Dien Hong Ward (HCMC), has been priced at approximately 23.25 million VND/m² (including Value Added Tax - VAT).
This price does not include adjustments based on the location of individual apartments, nor does it include the maintenance fee for shared areas.
The project features nearly 800 apartments and has entered its final completion phase. According to the developer's plan, the development is expected to undergo final inspection and be put into operation in the near future.
Due to its central location and pricing considered affordable for many end-users, the project has already attracted a substantial number of applications.
Social Housing Project on Le Van Chi Street
Meanwhile, the apartment building project at 35 Le Van Chi Street, Linh Xuan Ward, has also announced the selling prices for its social housing units.
According to the approved plan, the price is set at around 35.35 million VND/m² (inclusive of VAT but excluding the 2% maintenance fee).
The project is built on a land plot of over 8,600 m², consisting of three 16-story blocks that supply over 450 apartments. Among these, 140 units are allocated for the social housing program, with sizes ranging from approximately 40 m² to 75 m².
Demand for Social Housing Remains Strong
According to market research on Vietnam's social housing sector, the majority of home seekers still desire apartments priced under 1 billion VND.
Survey results indicate that the target customer segment primarily looks for apartments with a total value between 500 million VND and under 1 billion VND. However, a significant percentage of buyers are willing to accept higher prices if the project offers a favorable location, integrated infrastructure, and meets long-term living requirements.
This demonstrates that demand in the social housing segment remains immense, particularly in densely populated urban areas like HCMC, where the gap between people's income and commercial housing prices remains remarkably wide.
Market Outlook
The continued implementation and price announcement of these social housing projects are expected to supplement market supply, creating more housing opportunities for middle- and low-income earners.
Nevertheless, to meet actual demand, many experts emphasize that the market still requires further supportive policies regarding land funds, investment procedures, credit access, and incentive mechanisms to encourage more developers to participate in this segment in the coming time.
References: Official disclosures from project developers; research reports on the social housing market in Vietnam.