Since late 2024, numerous social housing projects in Hanoi have commenced construction, but prices have been on a sharp upward trend. Before 2023, social housing prices in the capital ranged between 13 to 17 million VND per square meter. Now, new records are being set consecutively.
The project with the highest current price is the Thuong Thanh Social Housing and Infrastructure Connectivity Area (commercially known as Rice City Long Châu), located in Bo De Ward (formerly Thuong Thanh Ward, Long Bien District). Developed by a joint venture between Him Lam Thu Do JSC and BIC Vietnam JSC, the project officially launched sales on October 1st.
The average announced selling price is 29.4 million VND per square meter (inclusive of VAT, excluding maintenance fees). At this rate, the smallest unit of 32.3 square meters costs approximately 950 million VND, while the largest unit of 77.2 square meters exceeds 2.26 billion VND.
Previously, the record was held by the Ha Dinh Social Housing project in Thanh Liet Ward, developed by a consortium including the Urban Infrastructure Development Investment Corporation (Udic), Hanoi Electrical and Water Installation Construction JSC (Haweicco), and DAC Hanoi Construction and Housing Development JSC. The estimated price at this project is around 25 million VND per square meter, equivalent to 1.75 billion VND for a 70-square-meter unit.
Chart: Hong Khanh
Social housing projects in Dong Anh and the Kim Hoa Urban Area (Tien Thang Commune) are priced at 20.6 million VND per square meter and 20.2 million VND per square meter, respectively.
The most affordable among the five projects currently or soon-to-be on sale is CT3, part of the new Kim Chung Urban Area in Thien Loc Commune (formerly Kim Chung, Dong Anh District). Developed by a joint venture between Hanoi Housing Development and Investment Corporation and Viglacera Corporation – JSC, this project stands out for its cost-effectiveness.
The estimated selling price is 18.4 million VND per square meter (inclusive of VAT and maintenance fees). Rental rates are set at 91,700 VND per square meter per month, with a rent-to-own option at 312,860 VND per square meter per month over five years. Units ranging from 49.8 to 64 square meters are priced between 920 million VND and 1.2 billion VND.
A representative from Viglacera Corporation explained that the project’s advantage lies in the developer’s control over construction materials. “Viglacera is not only an investor but also a provider of all essential materials. We supply most finishing products for the project, including tiles, sanitary ware, kitchen equipment, autoclaved aerated concrete, and more. All materials are locally sourced, reducing import, transportation, and intermediary costs,” the representative stated.
Moving forward, Viglacera plans to introduce products from the Eurotile Season 2025 collection and Vasta Stone marbled sintered stone.
CT3 Social Housing Project in the new Kim Chung Urban Area. Photo: Hong Khanh |
Mr. Mai Xuan Duc, General Director of Viglacera Tile JSC, revealed that since late 2022, the company has operated the Sacmi Continua+ production line from Italy, the world’s most advanced technology for sintered stone manufacturing. This line produces large-format Vasta Stone slabs measuring 1.6 x 3.2 meters, the largest size achievable by any domestic manufacturer in Vietnam.
The Eurotile line, first launched in 2018, has evolved into the Eurotile Season 2025 collection, featuring 38 sets and hundreds of designs.
According to Mr. Duc, despite being premium materials, many social housing components can utilize these products. “We are considering using Vasta Stone for areas like lobbies, elevators, and entrance steps, ensuring both quality and aesthetic enhancement for the project,” he noted.
Architect Nguyen Van Tat emphasized that project design should meet four fundamental criteria: sustainability, practicality, efficiency, and beauty. He shared an example of convincing a developer to use entirely local materials for a high-rise office building, halving costs compared to imported tiles while maintaining equivalent quality.
“When materials are locally sourced, costs become more reasonable, and distribution and warranty processes are smoother. Many projects using foreign materials face delays when replacing a single broken tile, as it requires re-importation,” Mr. Tat explained.
Hong Khanh
– 18:49 14/10/2025
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