📋 Tender Overview
In the context of house prices continuously increasing faster than peoples income, many countries have shifted from the goal of promoting home ownership to developing the rental housing market as a pillar of urban development and welfare policies. Download A building converted into rental housing by the Singapore Government - Photo: Strait Times Rental housing is no longer considered a temporary solution but has become a long-term residence option, helping people have accommodation suitable to their financial ability, while contributing to stabilizing the real estate market. This fact is also clearly reflected in the Asia-Pacific Home Ownership Index published by the Asia-Pacific Urban Land Institute. The report evaluating 51 market segments in 41 major cities shows that only 7 segments meet the criteria for people to be able to buy a house, while most urban areas have significantly higher access to housing through renting. This shows that rental housing development is becoming a popular trend in many economies. The state plays a constructive role. The experience of many countries shows that the state still plays a central role in developing the rental housing market, but the implementation method is very diverse. In Japan, the foundation of the policy was formed from the 1951 Public Housing Law with the goal of building a rental housing fund for low-income people. Instead of applying a fixed price, rent is calculated based on the actual income of each household, ensuring that the most disadvantaged people enjoy the lowest rent, while limiting widespread subsidies. Apartments must also meet strict standards in terms of area, quality and safety. In recent years, Japan has continued to adjust policies towards more flexibility. Instead of just investing in public housing, the Government encourages the private sector to participate through the Housing Safety Net system, which supports home renovation, reduces rental costs and guarantees tenants. By March 2025, the system had more than 943,000 apartments registered with more than 1,000 residence support organizations nationwide, helping to quickly expand the supply of affordable housing without creating a large burden on the budget. In parallel, the Japanese Government also implemented rental subsidies for households who lost jobs or reduced income, and developed a rental housing program at lower prices. 20-40% compared to the market to support young workers, families with small children and people with average income but not enough to buy a house. Diverse models, aiming for the same settlement goal. Not only Japan, many countries are also developing rental housing models suitable to their own conditions. In China, in addition to the public housing rental system, the country also implements a secured rental housing model for young people, new workers and young people. groups have difficulty buying houses. From 2024, many localities will also implement a mechanism to buy back unsold commercial apartments to convert them into low-cost rental houses, and issue hundreds of policies to support businesses in developing the professional rental market. Korea also expands long-term rental housing projects for immigrant workers, young couples and students through the participation of the public sector. Ensuring stable housing at a reasonable cost is considered one of the solutions that contributes to improving the quality of life and supporting young people to start a career and start a family. Meanwhile, many European countries such as Germany and Austria build a stable rental market with a legal system that protects tenants rights, controls rent prices and strongly develops non-profit housing models. Vienna (Austria) in particular maintains a large-scale social housing fund, dedicating its own land fund to develop rental housing and considers this an important part of urban infrastructure. Singapore chooses the state model to play a leading role in mass housing development, while maintaining a public rental housing program for low-income households that are not qualified to buy a house, with rent calculated according to each households ability to pay. According to experts, the common points of these A successful country is not about finding a way for everyone to own a home, but about building a policy system that helps people live in many different forms, in which rental housing plays an increasingly important role. The state plays a constructive role through planning, land policy, financial incentives, developing housing funds and protecting tenants rights, while effectively mobilizing resources from the private sector. International experience shows that when housing is considered first and foremost, A factor that ensures security and human resource development instead of just assets to accumulate, the market will operate more stably, creating conditions for people to have housing suitable to their financial ability, and at the same time contributing to sustainable urban development. An Binh See more REGULATION OF REAL ESTATE PRICES: How do countries do it? See more Asian real estate market: Carrying the burden of worry See more China: Investing in social housingAssembly to prevent real estate bubbles Read more Unique anti-real estate speculation measures of the Korean President
