Addressing a seminar in Hanoi on March 12, Dung noted people from all over the country including rural and mountainous areas all have concerns over the lack of affordable housing.

Housing prices in Vietnam are currently high compared to people’s income, and meeting their housing needs requires support from the State and even international resources, he said.

The government has approved the National Housing Development Strategy till 2020 with a vision for 2030. It is finalizing a housing policy to meet practical conditions, aiming to help low-income earners improve their accommodation.   

A number of legal documents have been issued to implement guidelines and mobilise resources for the development of social housing.

World Bank Country Director in Vietnam Victoria Kwakwa said Vietnam is in the process of rapid urbanisation and approximately 1 million people migrate to cities annually, placing immense pressure on housing demands.

Vietnam’s cities have redundant high-end apartment but are short of low-cost housing. The country does not have slums like other cities in the world but if the issue is not addressed promptly, slums are likely to grow in the near future, Kwakwa warned.

Vietnam aims to build 10 million sq.m of social housing, mainly apartment buildings by 2015, to meet low-income earners’ demands. It will provide support for 400,000 poor families in rural areas in need of houses.

International experts at the seminar shared valuable experiences in developing low-cost houses in their countries.

The seminar also provided a good opportunity for domestic researchers, managers and lawmakers to gain valuable information to complete a legal document system relating to building investment, urban and housing development, and real estate trading, especially low-cost house development policy.