Hanoi has launched three major projects to construct over 8,000 rental housing units, with a total investment of more than 30 trillion VND. This initiative marks the beginning of the city's program to develop rental housing, which is expected to significantly address the housing demands of various groups including workers, students, and civil servants.

The projects include residential areas at plots A2, A3, and A4 in the Phap Van-Tu Hiep area, which will feature 1,176 apartments with an investment of approximately 1.396 trillion VND. Another project located in the Viet Hung area will provide 1,166 apartments with an investment of around 3.563 trillion VND. The largest project, the Him Lam Long Bien mixed-use housing area, will utilize over 11 hectares of land to construct about 6,000 apartments, with a total investment of approximately 29 trillion VND, of which around 4,000 units will be allocated for long-term rental.

Hanoi's Chairman Vu Dai Thang stated that these projects will lay the groundwork for a new segment of rental housing in the capital. "The city's goal is to gradually establish a professional, high-quality rental housing market with reasonable prices, while also alleviating the pressure of home ownership and promoting a healthy and sustainable real estate market that aligns with international trends," he said.

In the future, the rental housing areas will be systematically planned alongside urban railway systems, employment centers, educational institutions, healthcare facilities, and public services, facilitating a better living and working environment for residents. This initiative follows directives from the General Secretary and President To Lam, who emphasized the need for rental apartments in major urban areas and industrial zones to meet actual housing needs rather than speculative investments.

Prime Minister Le Minh Hung has also urged Hanoi to expedite the implementation of rental housing projects starting in June. On June 15, the Hanoi People's Council adopted a resolution on mechanisms and policies to invest in and support housing development, providing a legal foundation to promote social housing and rental housing projects. According to the Hanoi Department of Construction, the city currently has 90 social housing projects with approximately 80,800 apartments, of which 13 projects with over 11,000 units have already begun construction, and 41 projects with nearly 27,500 units are expected to start in 2026.