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Is this a turning point in history when workers no longer have to sacrifice their youth to bear home loans that last for decades?
One of the most notable news of Vietnam's economy today is Prime Minister Le Minh Hung's announcement that the State will use the budget to build long-term housing for workers to rent at affordable prices.
This message shows a huge change in housing development thinking. Instead of focusing almost entirely on the goal of home ownership, the new policy aims to ensure workers have stable, quality and affordable housing.
οΈ FROM THE DREAM OF OWNING A HOME TO THE RIGHT TO RESIDENCE
For many years, most housing policies have focused on helping people buy homes.
However, reality shows that millions of workers in industrial zones still cannot access commercial housing or even social housing due to limited income.
The government is shifting towards the model
β Long term rental
β Low cost
β Full infrastructure
β Flexible workplace
β No pressure to borrow for many years
This is also a model that is widely applied in many developed economies where the proportion of renters is very high but the quality of life is still guaranteed.
CURRENT SITUATION OF WORKER HOUSING
Criteria Common situation
Room areaAccommodation 10 - 15 mΒ²
Number of people staying 3 - 5 people
Living conditions Limited
Kindergarten near Thieu's residence
Medical facilities Not synchronized
Rental costs continuously increase
Many workers are living in cramped dormitories, lacking study space for their children and lacking basic amenities for life.
NEW HOUSING MODELS ARE NOT ONLY APARTMENTS
According to the announced orientation, the projects will not simply be housing blocks.
New housing areas are expected to be planned synchronously, including:
School
Kindergarten
Medical facility
Cultural house
Parks and public spaces
Connected transportation system
This helps form stable residential communities instead of just temporary accommodation areas.
THE STATE BUDGET WILL PARTICIPATE DIRECTLY
The most notable point is the role of the State.
Previously, most of the social housing supply depended on real estate businesses.
This time the public budget is mentioned as a direct resource to create rental housing funds.
This may help
β Rapidly increase supply
β Reduce rental price pressure
β Limit speculation
β Retain workers at production centers
HOME RENTAL COST PROBLEM
For example, a working family today
The rental fee is approx
ββββββββββββββββββ
β 2,000,000 VND β
ββββββββββββββββββ
β‘ Electricity and water
ββββββββββββββββββ
β 800,000 VND β
ββββββββββββββββββ
Child care costs
ββββββββββββββββββ
β 2,500,000 VND β
ββββββββββββββββββ
Total base costs per month may exceed
ββββββββββββββββββ
β 5,300,000 VND β
ββββββββββββββββββ
With a universal salarychanges in many industrial zones, this is huge pressure.
If the new housing model significantly reduces the cost of renting and providing accompanying services, the real income of workers will improve significantly.
HOUSING AND WAGES ARE BEING SOLVED IN THE SAME PROBLEM
At the dialogue, many union delegates also mentioned the concept of a living wage.
Unlike the minimum wage, a living wage must be met
β’ Eating and drinking
β’ Housing
β’ Medical
β’ Educating children
β’ Contingency costs
If housing costs decrease, the pressure on businesses to increase wages will also decrease and the quality of life of workers will improve faster.
IMPACT ON THE ECONOMY
Expected Impact Area
Workers Stabilize their lives
Enterprises Retain personnel
Industrial park Increases investment attraction
Local Reduce pressure on spontaneous accommodation
National economy Improve competitiveness
Vietnam is entering the phase of attracting large-scale production from international corporations. Housing for workers is no longer just a security issue but has become a strategic competitive factor.
LOOKING FROM A LONG-TERM PERSPECTIVE
If implemented on the right scale and on schedule, this policy could create the largest affordable rental housing market ever for Vietnamese workers.
What is most notable is that for the first time, the concept of "right to live" is placed on the same level as "right to own a home".
That could be a fundamental change for Vietnam's housing market in the next decade.
#LeMinhHung #ThuTuong #NhaOCongNhan #NhaOChoThue #NhaOXaHoi #KhuCongNghiep #NguoiLaoDong #BatDongSanVietNam #KinhTeVietNam #AnSinhXaHoi #TimKiemTop οΈ
