LEAVING THE CITY OR "LIFELONG RENTING": THE BITTER CHOICE FOR YOUTH AMID THE 2026 APARTMENT PRICE SURGE

The dream of homeownership in Hanoi and Ho Chi Minh City is rapidly becoming a "mission impossible" as new price ceilings are continuously established. According to the Ministry of Construction's Q1/2026 report, average apartment prices in Hanoi have skyrocketed to 128 million VND/m², while Ho Chi Minh City remains anchored at 112 million VND/m². Consequently, a modest 60m² apartment now costs between 7 and 8 billion VND—a figure far beyond the financial reach of the vast majority of workers.

The paradox lies in the fact that while housing prices increase by "folds," incomes only grow by "percentages." The story of Mr. Huong (earning 30 million VND/month) is a prime example: despite saving 100 million VND annually, he still cannot outpace a housing market that inflates by billions of VND each year. As a result, many young people find themselves in a "catch-22": stay in the city and endure lifelong renting, or abandon their careers to find a way out in the countryside.

The root cause is identified as a severe supply-demand mismatch and rising input costs (materials, financing). Currently, even suburban projects rarely offer prices below 50–60 million VND/m². Although authorities have pledged to tighten supervision and prevent price manipulation, the widening gap between income and housing costs continues to push the younger generation into a brutal residential filtering process.

This reality is sparking a "silent rebellion" in the mindset of the youth, where the concept of "settling down" is replaced by a focus on short-term enjoyment. Instead of carrying a decades-long mortgage, many choose to accept long-term renting to maintain a minimum quality of life. However, the rental market is equally unforgiving, with apartment rents surging by 20–30% within a single year, pushing housing costs to 40–50% of a typical office worker's total monthly income.

The impasse in finding shelter in major metropolises is giving rise to a shift of capital and human resources toward satellite cities like Long An, Binh Duong, and Dong Nai. Here, despite heavy infrastructure investment, prices remain in a "lowland" compared to the urban core. Yet, this is only a temporary solution as waves of speculation quickly flood these provinces, continuing to drive up land and townhouse prices and further narrowing the window for genuine homebuyers.

Economic experts warn that without substantive breakthroughs in social housing development and control of speculative capital, major cities will soon face a "reverse brain drain." When the basic cost of survival becomes too exorbitant, ambitious young people will be forced to leave the city, leaving behind glitzy skyscrapers devoid of the vitality provided by a core workforce. The question of a stable home is no longer a matter of personal finance, but has become an urgent social security puzzle in the era of "beyond-endurance" housing prices in 2026.

(Source: Vietstock)