Vietnam Social Housing Residents Rate Management Low, Desire Prices Below 1 Billion VND

A recent survey of social housing residents in Vietnam has revealed significant dissatisfaction with management and maintenance services, despite high marks for the selling price policy. The survey, conducted by a team of experts from the University of Economics and Law (Vietnam National University, Ho Chi Minh City), found that residents highly value the pricing of social housing, considering it a crucial financial "support" for settling down. However, their satisfaction levels regarding management and maintenance services were found to be very low. This study highlights the current state and challenges of housing policies in Vietnam, particularly concerning the supply of social housing for low-income earners and young people. The government has promoted a policy of setting social housing prices lower than market rates to assist citizens in homeownership, enabling many to acquire their own homes. Nevertheless, the reality is that daily services such as building maintenance, cleaning of common areas, security, and community building among residents are not meeting expectations. Residents have expressed frustrations regarding slow and inadequate responses from management boards, the opacity of repair costs, and a perceived lack of responsiveness to their concerns. Some residents hope for sales prices to be below 1 billion Vietnamese Dong (approximately 40,000 USD, based on an exchange rate of 25,000 VND per USD), seeking a balance between affordability and a high quality of living environment. In Vietnam, housing demand is rising due to population concentration in urban areas and economic growth. Housing price hikes in major cities like Hanoi and Ho Chi Minh City have become a serious social issue. The government is attempting to address this problem by expanding the supply of social housing, but the survey results suggest that improvements in management and operational aspects, not just supply, are essential. Under Vietnam's one-party system, housing policy is positioned as part of the economic growth strategy. The proliferation of social housing is considered a vital element for stabilizing citizens' lives and maintaining social stability. However, the low quality of management services could escalate resident dissatisfaction and, in the long term, potentially undermine confidence in the policy. Furthermore, in Vietnam's economy, which maintains close ties with China, the stability of the domestic housing market can also affect consumer sentiment and the investment environment. The findings of this survey indicate that the Vietnamese government needs to focus not only on expanding the quantity of housing policies but also on improving their quality.