Attending the meeting were Duong Duc Tuan, Member of the Hanoi Party Standing Committee and Standing Vice Chairman of the Hanoi People's Committee, along with representatives of city departments, agencies and related units.

Expected launch of 41 social housing projects in 2026

According to a report from the Hanoi Department of Construction, the city currently has 90 social housing development projects with approximately 80,800 units. Of these, 13 projects with about 11,124 units have already broken ground, while 41 projects with approximately 27,426 units are expected to begin construction in 2026, including seven projects with around 6,353 units scheduled to start in June 2026.

In addition, 29 projects are expected to break ground in 2027, while seven projects are completing investment procedures.

Among 29 projects comprising approximately 28,000 apartments that received investment policy approval before the Vietnamese National Assembly issued Resolution No. 201, 12 projects with around 9,410 apartments have already started construction and are under development.

In June 2026, the city is expected to launch three additional projects with approximately 4,729 apartments. Five projects with around 7,087 apartments are scheduled to begin in the third quarter of 2026, while two more projects with approximately 2,108 apartments are planned for the fourth quarter.

For the 61 projects totaling roughly 50,600 apartments assigned by the Hanoi People's Committee after Resolution No. 201 took effect, one project with approximately 1,714 apartments has already broken ground. This is the Southwest Kim Giang Social Housing Project (CT7 plot), developed by a consortium of Bac Ha Group Joint Stock Company and ETC Gold Joint Stock Company.

The city is also preparing to launch four additional projects with approximately 1,624 apartments in June 2026, 13 projects with approximately 4,000 apartments in the third quarter of 2026, and 14 projects with approximately 7,870 apartments in the fourth quarter of 2026.

The remaining 29 projects, totaling more than 35,000 apartments, are expected to begin construction in 2027.

Regarding rental housing development, in line with directives from central authorities and guidance from the Prime Minister during a working session with Hanoi on May 25, 2026, the Hanoi Department of Construction has incorporated investment support mechanisms and policies for rental housing into a draft resolution of the Hanoi People's Council under the 2026 revised Capital Law.

To ensure the pilot launch of a rental housing project in June 2026, as directed by the Secretary of the Hanoi Party Committee, the Hanoi Department of Construction has proposed multiple parallel implementation measures.

Under the proposal, the Hanoi Department of Planning and Architecture will lead the review and selection of suitable land sites, prioritizing locations with convenient public transportation access, proximity to industrial parks and high-tech zones, or areas with concentrations of highly skilled workers.

The Hanoi Department of Finance will select investors under a special mechanism, while the Hanoi Department of Agriculture and Environment will review eligible public land reserves. Meanwhile, the Hanoi Department of Construction will assist in completing design and construction permit procedures to ensure groundbreaking can take place in June 2026.

According to the plan, communes and wards will coordinate land reviews, support site clearance and work with investors to keep projects on schedule.

Completing the legal framework for new housing models

At the meeting, representatives of city departments, agencies, businesses and investors conducted a comprehensive assessment of the current state of social housing and rental social housing development while exploring attractive policies and mechanisms to encourage greater private-sector participation.

Standing Vice Chairman of the Hanoi People's Committee Duong Duc Tuan emphasized the need to shift from a homeownership-focused mindset toward stronger development of rental housing.

He said the legal framework should be completed quickly, investment models diversified and large-scale housing funds established to meet practical housing needs, particularly for middle- and low-income residents, workers, students and urban employees.

Drawing on experiences from countries such as Singapore, Tuan noted that professionally managed large-scale rental housing systems can provide stable accommodation while increasing the flexibility of urban real estate markets.

"We still place significant emphasis on homeownership, while international trends are gradually moving toward rental housing models that better match the income levels and life stages of different population groups," he said.

The Standing Vice Chairman added that current housing legislation should continue to be reviewed and refined to clearly distinguish among housing categories, including commercial housing, rental housing, social housing, public-service housing and resettlement housing.

In particular, he stressed the need to clarify operational mechanisms for rental housing, a segment that currently lacks a comprehensive legal framework, which creates challenges for investment attraction and project implementation.

Regarding investment mechanisms, Tuan said multiple approaches should be applied flexibly, including public investment funded by the state budget, public-private partnerships (PPP), regulated private investment supported by policy incentives, socialized investment models and international resource mobilization.

Under different circumstances, the city can select the most appropriate mechanism, but all approaches should aim to reduce development costs and ultimately lower rental prices for residents.

One of the key requirements emphasized by city leaders is land availability.

Accordingly, rental housing projects and large-scale housing developments must have cleared land ready for implementation, sufficient scale with a preference for areas of approximately 42 hectares or larger, integrated infrastructure, strong connectivity and the capacity to support modern and smart urban planning.

The Standing Vice Chairman stressed that the core issue is not simply one of engineering or investment, but a fundamental shift in housing development philosophy.

This means moving away from the mindset of "owning a home at any cost" toward ensuring access to housing that matches residents' needs and financial capacity, with rental housing playing a central role.

Establishing pilot rental housing projects soon

Speaking at the meeting, Chairman of the Hanoi People's Committee Vu Dai Thang said that on May 25, Prime Minister Le Minh Hung and leaders of central ministries and agencies met with the Hanoi People's Committee to implement Central Office Notice No. 64-TB/VPTW concerning housing development in the capital.

He described the meeting as highly significant, clearly reflecting the Party, State and Government's approach to housing policy, an area of special importance to people's lives.

According to Thang, beneficiaries of rental housing policies will include a broad range of groups such as workers, students, members of the armed forces, teachers, doctors, journalists and many other categories of employees.

In the past, Hanoi implemented several rental housing models for workers, students and social housing tenants. However, rental conditions remained restrictive, while project scale and policy attention did not adequately reflect actual demand.

"The Government's new approach is to develop a long-term rental real estate market that serves genuine housing needs rather than ownership or speculative asset accumulation. Housing must truly be a place to live and improve quality of life," Thang said.

He noted that Hanoi has implemented numerous measures to address housing needs for low-income residents, workers, teachers and healthcare professionals, particularly through social housing development. However, rental housing has not received sufficient attention. Therefore, the city will urgently study and implement new models in line with directions from central authorities and the Government.

Hanoi aims to establish several pilot rental housing projects for concentrated investment and rapid implementation, creating models that can later be replicated on a broader scale.

"This is not simply the development of another real estate segment. It is an important shift in housing policy, moving from an asset accumulation mindset toward meeting genuine residential needs," Thang emphasized.

At the meeting, the Chairman instructed city departments to comprehensively assess the current situation of social housing and rental social housing while researching attractive policies and mechanisms to encourage business participation.

"Companies with practical experience in managing and operating rental real estate should proactively register and propose projects. The city is committed to streamlining procedures, prioritizing fast-track approvals and accelerating the implementation of rental housing developments," he said.

Thang added that with the revised 2026 Capital Law and various special mechanisms approved by central authorities, the National Assembly and the Government, Hanoi now has sufficient political, legal and institutional foundations to implement rental housing models.

This is not only a matter for Hanoi but also reflects the capital's pioneering role in translating major Party and State policies into practical action.

To ensure effective implementation, the Chairman directed city departments to urgently review all urban plans, housing development plans and urban land reserves in order to allocate targets specifically for rental housing. These allocations should be incorporated into all housing development categories, including social housing, commercial housing and new urban areas. The city will mobilize both public investment and private-sector resources simultaneously.

One issue emphasized by the chairman was the need to study increasing the proportion of social housing designated for rental purposes.

Previously, the proportion was set at approximately 20%. However, the city should now consider raising it to a more appropriate level, potentially between 20% and 30% depending on individual projects.

In practice, demand for rental housing is extremely high in convenient locations near urban areas, employment centers and public transportation networks. The chairman also called for research into establishing a unified management mechanism for rental social housing stock instead of allowing each developer to operate under different systems.

At the same time, he assigned the Hanoi Department of Construction to study policies, operational models, management mechanisms and leasing arrangements for both rental social housing and rental commercial housing.

To quickly turn these policies into reality, the chairman directed relevant units to begin implementing several key projects before June 15.

For the student housing project in the Phap Van-Tu Hiep area, the Hanoi Civil Works Construction Investment Project Management Board was instructed to move forward promptly, utilizing existing designs to accelerate implementation and reduce costs.

For socialized investment projects, the chairman agreed with proposals to review suitable cleared land sites that already have appropriate planning in place and convert them into urban developments that include rental housing.