Hanoi tenants to buy social houses after renting for five years
Social housing units will be sold to their current renters after five years.
THE HANOI TIMES — After a five-year rental term, tenants at the Ecohome 3 project in Dong Ngac Ward, Bac Tu Liem District are now able to buy their social houses for VND16.3 million (US$624) per square meter.
The Ecohome 3 social housing complex in Bac Tu Liem District's Dong Ngac Ward. Photo courtesy of Capital House
According to the Hanoi Department of Construction, the project offers a total of 110 social housing units for sale. The price includes value-added tax (VAT) but excludes maintenance fees.
These apartments are presently rented at VND73,155 ($2.8) per square meter per month, including VAT.
The available units range in size from 39.9 to 69.7 square meter each. Eligibility to apply for purchase is limited to current tenants of these specific apartments.
The Ecohome 3 project consists of more than 1,450 apartments, including approximately 1,000 social housing units for sale, 181 commercial units and the remainder for lease as social housing.
Another social housing project currently open for sale is the CT2A building in the Thach Ban Social Housing Complex in Thach Ban Ward, Long Bien District.
The sale price is VND12.2 million ($467) per square meter, inclusive of VAT but exclusive of maintenance fees, with a monthly rental rate of VND40,000 ($1.53) per square meter. Applications will remain open until July 15.
The CT2A building contains a total of 414 apartments, including 250 social housing units for sale, 82 rental units, and 82 commercial units.
Last week, it was reported that social housing units at the Rice City Long Chau complex in Thuong Thanh Ward, Long Bien District, will be sold at an average price ranging from VND26 million to VND27 million (US$997 to $1,035) per square meter. This is the highest recorded price to date for social housing projects in Hanoi.
At this price point, the smallest 32-square-meter unit will cost around VND864 million (approximately $34,000), while the largest 77-square-meter unit is estimated at VND2 billion ($76,710).
The project features 1,980 apartments and is currently under construction, with completion expected by the fourth quarter of 2027. The complex includes 1,695 units for sale, 245 rent-to-own units, and 36 units designated for on-site resettlement.
Previously, the highest social housing prices in Hanoi were seen at the UDIC Ha Dinh project in Tan Trieu Commune, Thanh Tri District, at VND25 million ($959) per square meter and at the NHS Trung Van project in Trung Van Ward, Nam Tu Liem District, at VND19.5 million ($748) per sq.m.
