From 2026 to 2030, the Quang Ninh Provincial People's Committee plans to construct nearly 13,000 rental apartments to address housing needs for approximately 84,000 people.
The state can offer financial support to private landlords to upgrade and renovate existing accommodation to a quality standard for workers, rather than solely focusing on building new projects.
On the morning of 22/6, Hanoi began construction on three projects featuring over 8,000 rental apartments, aiming to establish a professional, affordably priced rental housing market to ease the burden of homeownership for residents.
Localities are urged to proactively clear land and prepare clear land funds for rental housing development, following a decision by the prime minister.
Prime minister Le Minh Hung announced the state will utilize its budget to construct long-term, affordable rental housing for workers, instructing localities to commence project implementation from june.
The Ministry of Construction is actively developing preferential land and financial mechanisms to promote rental housing. Concurrently, it is advising the Government to set specific development targets for this housing type across all localities.
The prime minister directed Hai Phong, Quang Ninh, Bac Ninh, Ninh Binh, and Hung Yen to strive to break ground on at least one rental housing project in June 2026.
Hanoi will shift from a model primarily focused on developing homes for sale to a balanced development of homes for sale and rent, prioritizing affordable rental housing for workers and low-income individuals.
Hanoi's chairman has called for the immediate implementation of several rental housing projects this june, alongside a study to increase the proportion of social housing allocated for rent to 20-30%.
Prime Minister Le Minh Hung has instructed Hanoi to review land funds and establish mechanisms for large-scale rental housing development, addressing the needs of residents, cadres, civil servants, and public employees working in the capital.
