Vietnam drafts housing law to make commercial homes affordable at 40‑50 million VND/m²

The Vietnamese government has prepared a draft amendment to the Housing Law that seeks to create a market for "affordable commercial housing" priced at 40‑50 million VND per square metre, far below the current average of 70‑100 million VND. The proposal aims to limit household housing expenses to 30‑35 % of income, with profit margins capped at 15 % plus reasonable costs, and land prices set by a fixed tariff rather than auction. According to a World Bank study cited by the Ministry of Construction, a typical Hanoi household earning 16 million VND per month would need 18‑20 years of full‑income savings—or up to 78 years if only one‑third of income is saved—to purchase a home at today’s prices. The draft also calls for a formula that adjusts the affordable price based on local average incomes and a 15‑year repayment horizon.