The idea of settling down and establishing a livelihood is a common aspiration in Vietnam. However, this does not necessarily entail owning a home at any cost. The development of rental housing should be considered a vital social welfare policy, particularly in major cities. The recent tragic fire incident at a small condominium building in the capital city of Hanoi has once again highlighted the importance of fire safety measures and underscored the responsibility of government authorities at all levels. Nevertheless, the root issue persists: the unmet housing needs of low-income individuals. A viable solution In certain nations, social housing for long-term rental is not solely the purview of the private sector; it also falls under the purview of central and local governments. According to statistics from the Organization for Economic Cooperation and Development (OECD), the segment for social housing for long-term rental comprises 10% of the total housing supply in member countries. Notably, this figure rises to 20% in the Netherlands and 35% in Denmark. For those who are unable to afford to purchase a commercial home, long-term rental housing provides a practical solution. It not only offers affordability but also stability in accommodation. Many individuals, considering their budget […]
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