“I recently viewed a two-bedroom, 60-square-meter apartment in HCMC priced at VND4 billion. Only those earning at least VND30 million a month, typically working for large foreign companies, might be able to afford the 30% down payment and a 20-year mortgage.
For average workers like myself, renting for life seems inevitable. Even if mortgage rates dropped to match deposit interest rates, few would dare take on such a massive loan. In developed countries, many resort to mobile homes. That could become our reality as rising property prices push rents even higher.
Right now, even students pay at least VND2 million per month for a bare-bones room while families need a minimum of VND5 million to rent a home.”
Reader Saumaithd
The above opinion was shared in response to reports that young people still struggle to buy homes despite lenders offering mortgages with preferential interest rates of 3.9-5.5%, comparable to deposit interest rates, and other incentives for those under 35. Many believe that lower rates alone are not enough, as the biggest obstacle to homeownership remains soaring real estate prices, which have far outpaced their income.
Reader Binh Luan echoed the same sentiment:
“With housing prices today, even renting is a challenge. Only a handful of people born in the 1990s or later can afford a home on their own. Keeping up with rising prices is tough even for those with high salaries of VND30-40 million per month, let alone VND15-20 million. And high income is becoming increasingly rare.”
Reader Anh To Duy said:
“Helping young people secure housing and settle down is crucial for the country’s long-term development. The current mortgage interest rate is still too high, especially as the job market is becoming more intense due to staff cuts and restructuring. With today’s fast-paced lifestyle, where people focus on efficiency and work-life balance, young people are unlikely to spend 20 years grinding away just to buy a home they barely have time to live in.”
Reader Cau Co shared an idea:
“A better solution would be to create a fund to develop apartment complexes in suburban areas exclusively for young buyers. Owners should be required to keep their homes for at least 20 years, and if they sell, any profit should go back to the fund. This would give young people a real shot at homeownership instead of letting wealthy buyers snap up properties as soon as they hit the market.”
Reader Bimitruong commented:
“The real issue here is that housing prices are simply too high. In my opinion, prices in the city should be around VND40- 50 million per square meter as beyond mortgage payments, buyers also need to set aside savings for emergencies. Developers are making enormous profits right now and there should be regulations to cap prices on their projects instead of letting them grow unchecked.”
What are your thoughts on the topic?
*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.
