“Affordable Social Housing in Danang: Rent Starts at VND 57,000 per sqm per month”

On October 15, the People’s Committee of Da Nang City issued a decision on the framework for social and industrial park worker housing rental prices in the city, effective from October 25, 2024.

The minimum rent for social housing projects not invested with public capital or trade union finances is set at VND 57,000/m2/month, with a maximum of VND 165,000/m2/month, depending on the location and scale of the apartment building.

For social housing built by individuals, the rent for a detached house (1-5 stories) ranges from VND 39,000 to VND 96,000/m2/month, depending on the scale of the house.

Regarding worker housing in industrial parks, the rent for a 5-story apartment building (without a basement) is VND 54,000-84,000/m2/month. For a 25-30 story apartment building (with 2 basements), the rent starts from VND 100,000 and can go up to VND 158,000/m2/month.

On the same day, the People’s Committee of Da Nang City also issued regulations on the subjects and conditions for renting, buying, and leasing social housing in the city, effective from October 25, 2024.

The prioritized subjects for social housing rental, which is invested and constructed by the state with public capital, include individuals with revolutionary contributions, family members of martyrs eligible for housing support, poor households with difficult circumstances, households renting public assets subject to demolition, and households whose land is revoked and houses demolished without state compensation in the form of land or housing. For other cases with difficult circumstances that do not meet some criteria for prioritized subjects or conditions for social housing rental as prescribed, the Da Nang City People’s Committee will consider and decide on the rental.

To be eligible for renting social housing invested and constructed by the state with public capital, the tenant must have a permanent residence registered continuously in Da Nang City for at least 5 years from the date of submitting the registration dossier. They should not have bought, rented, or leased social housing and must not have benefited from housing support policies in any form. Additionally, they should not own a house or land for residential purposes in the city.

For social housing that is not invested and constructed by the state with public capital, support will be provided for renting, buying, or leasing to subjects specified in Article 76 of the Housing Law.

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