Share this article!

The increasing costs of land, materials, labor, legal procedures, and interest rates, as well as speculation, have all been pushing housing prices up for years, according to experts.

In recent market reports, the Ministry of Construction has confirmed that housing prices are currently unaffordable for many people.

Le Huu Nghia, director of construction and real estate firm Le Thanh Company, said housing prices in big cities like Ho Chi Minh City are too high compared to ordinary middle-class incomes.

Nghia said all high-end housing sells at high prices, while a shortage of social housing and affordable commercial housing has led to an increase in the average housing price.