Housing affordability crisis in Vietnam

The average housing price in Vietnam is currently 23.7 times the average annual household income, slightly up from 23.5 in 2023, according to Numbeo.

This figure represents the "House Price to Income Ratio" (HPR) for 2024, newly updated by

HPR is calculated by dividing the average housing price by the average annual household income. This result indicates that the average nationwide housing price is nearly 24 times the average annual income of Vietnamese households. However, experts suggest that this ratio should ideally range from 5 to 7 times.

While Numbeo does not disclose its

Thus, the estimated average annual income per household in 2022 is 117.6 million dong. According to Numbeo, the HPR for Vietnam in 2022 was 20.5. Combining these two data sources reveals that the average housing price at that time was approximately 2.4 billion dong per unit (considering all types of housing).

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