<p>河内——越南房地产市场中住房价格与家庭收入之间的差距不断扩大，引发了人们对长期平衡的担忧，尽管房地产供应在增加，且该行业显示出复苏的迹象。</p>
<p>越南国家房地产协会（VNREA）副主席、越南房地产经纪人协会主席阮文定在 3 月 12 日于河内举行的协会年度会员会议上发表了上述言论。</p>
<p>尽管住房供应显著增加，市场活动开始复苏，但专家认为，2026 年该行业将出现更明显的细分，因为房地产价格继续以快于收入的速度上涨，而一些郊区面临潜在的流动性挑战。</p>
<p>阮文定表示，2025 年房地产市场经历了供应激增，全国范围内推出了数百个项目。</p>
<p>然而，复苏也带来了新的挑战，这些挑战可能会影响未来一段时间的市场，最重要的是房地产价格与收入水平之间日益扩大的差距。</p>
<p>住房需求依然强劲，受到越南经济增长、快速城市化和中产阶级扩张的支持。然而，居民的购买力并未以与房地产价格相同的速度增长。</p>
<p>近年来，河内和胡志明市等主要城市的住房价格稳步上涨，进一步加大了收入水平与房产价值之间的差距。</p>
<p>阮文定表示，这一趋势已成为影响真实住房需求的关键因素之一。许多人，尤其是年轻买家，因财务压力加大而被迫推迟购房计划。</p>
<p>与此同时，卖方期望与买方情绪之间出现了明显的差距。卖方倾向于维持价格或仅做小幅调整，而买方则变得更加谨慎，通常选择在做出购买决定之前先观察市场。</p>
<p>因此，大多数交易集中在那些受益于优越位置、法律状态明确和开发商信誉良好的项目上。价格过高或发展策略薄弱的项目往往难以吸引买家。</p>
<p>除了可负担性压力外，预计 2026 年的房地产市场在某些地区也将面临潜在的流动性风险。</p>
<p>VNREA 预测，如果项目按计划推出，2026 年的住房供应可能达到约 150,000 个单位。其中，北部地区预计贡献约 60,000 个单位，仅河内和兴安省就约占 40,000 个单位。在胡志明市，供应预计约为 55,000 个单位。</p>
<p>随着主要城市住房价格的持续攀升，投资资本预计将越来越多地转向郊区，那里的增长潜力仍然存在，价格也更为可接受。</p>
<p>然而，阮文定警告称，并非所有郊区都能吸引投资流入。如果交通基础设施尚未完善，或开发商缺乏建设必要设施的能力，一些地方可能面临流动性瓶颈。</p>
<p>在基础设施网络尚未同步且公共服务不足的情况下，真正的住房需求不太可能增长。这意味着即使是大量推出的项目，交易活动仍可能缓慢。</p>
<p>因此，预计 2026 年的市场将经历更强的筛选。法律文件齐全、与主要交通走廊相连的地点以及基于综合城市规划的发展模式的项目更有可能保持稳定的流动性。</p>
<p>根据 VNREA 的说法，尽管 2026 年市场细分的可能性更强，但整体趋势指向更可持续的发展，因为投机活动逐渐减少，投资资本越来越集中于提供真实价值的项目。——越南新闻社</p>

越南 ETF - VanEck Vectors

<p>越南住房价格与家庭收入之间的差距扩大，引发了人们对房地产市场长期平衡的担忧。尽管房地产供应增加并出现复苏迹象，专家预测到 2026 年，房地产价格将继续以超过收入的速度上涨，这可能导致郊区面临流动性挑战。由于经济增长和城市化，住房需求依然强劲，但许多买家，尤其是年轻买家，因财务压力而推迟购房。市场预计将出现更强的细分，重点关注提供真实价值的项目</p>

<p>HÀ NỘI — A widening gap between housing prices and household incomes is raising concerns about the long-term balance of Việt Nam’s real estate market, even as property supply expands and the sector shows signs of recovery.</p>
<div class="lb-trans"><p>河内——越南房地产市场中住房价格与家庭收入之间的差距不断扩大，引发了人们对长期平衡的担忧，尽管房地产供应在增加，且该行业显示出复苏的迹象。</p>
</div><p>Nguyễn Văn Đính, Vice Chairman of the Vietnam National Real Estate Association (VNREA) and Chairman of the Vietnam Association of Realtors, made the remarks at the association’s annual members’ meeting held in Hà Nội on March 12.</p>
<div class="lb-trans"><p>越南国家房地产协会（VNREA）副主席、越南房地产经纪人协会主席阮文定在 3 月 12 日于河内举行的协会年度会员会议上发表了上述言论。</p>
</div><p>Although housing supply has increased significantly and market activity has begun to recover, specialists believe 2026 will see clearer segmentation within the sector as property prices continue to rise faster than incomes while some suburban areas face potential liquidity challenges.</p>
<div class="lb-trans"><p>尽管住房供应显著增加，市场活动开始复苏，但专家认为，2026 年该行业将出现更明显的细分，因为房地产价格继续以快于收入的速度上涨，而一些郊区面临潜在的流动性挑战。</p>
</div><p>According to Đính, the real estate market in 2025 experienced a surge in supply as hundreds of projects were launched nationwide.</p>
<div class="lb-trans"><p>阮文定表示，2025 年房地产市场经历了供应激增，全国范围内推出了数百个项目。</p>
</div><p>However, the recovery has also brought new challenges that may shape the market in the coming period, foremost among them the growing gap between property prices and income levels.</p>
<div class="lb-trans"><p>然而，复苏也带来了新的挑战，这些挑战可能会影响未来一段时间的市场，最重要的是房地产价格与收入水平之间日益扩大的差距。</p>
</div><p>Demand for housing remains strong, supported by Việt Nam’s economic growth, rapid urbanisation and the expansion of the middle class. However, residents’ purchasing power has not risen at the same pace as property prices.</p>
<div class="lb-trans"><p>住房需求依然强劲，受到越南经济增长、快速城市化和中产阶级扩张的支持。然而，居民的购买力并未以与房地产价格相同的速度增长。</p>
</div><p>In recent years, housing prices in major urban centres such as Hà Nội and Hồ Chí Minh City have increased steadily, further widening the gap between income levels and property values.</p>
<div class="lb-trans"><p>近年来，河内和胡志明市等主要城市的住房价格稳步上涨，进一步加大了收入水平与房产价值之间的差距。</p>
</div><p>Đính said the trend has become one of the key factors affecting real housing demand. Many people, particularly young buyers, are being forced to postpone home-buying plans because of growing financial pressure.</p>
<div class="lb-trans"><p>阮文定表示，这一趋势已成为影响真实住房需求的关键因素之一。许多人，尤其是年轻买家，因财务压力加大而被迫推迟购房计划。</p>
</div><p>At the same time, a noticeable gap has emerged between sellers’ expectations and buyers’ sentiment. Sellers tend to maintain prices or make only slight adjustments while buyers have become more cautious, often choosing to monitor the market before making purchasing decisions.</p>
<div class="lb-trans"><p>与此同时，卖方期望与买方情绪之间出现了明显的差距。卖方倾向于维持价格或仅做小幅调整，而买方则变得更加谨慎，通常选择在做出购买决定之前先观察市场。</p>
</div><p>As a result, most transactions are concentrated in projects that benefit from favourable locations, clear legal status and reputable developers. Projects with excessively high prices or weak development strategies often struggle to attract buyers.</p>
<div class="lb-trans"><p>因此，大多数交易集中在那些受益于优越位置、法律状态明确和开发商信誉良好的项目上。价格过高或发展策略薄弱的项目往往难以吸引买家。</p>
</div><p>In addition to affordability pressures, the real estate market in 2026 is also expected to face potential liquidity risks in certain areas.</p>
<div class="lb-trans"><p>除了可负担性压力外，预计 2026 年的房地产市场在某些地区也将面临潜在的流动性风险。</p>
</div><p>VNREA forecasts housing supply could reach around 150,000 units in 2026 if projects are launched on schedule. Of this total, the northern region is expected to contribute about 60,000 units including roughly 40,000 from Hà Nội and Hưng Yên Province alone. In Hồ Chí Minh City, supply is estimated at about 55,000 units.</p>
<div class="lb-trans"><p>VNREA 预测，如果项目按计划推出，2026 年的住房供应可能达到约 150,000 个单位。其中，北部地区预计贡献约 60,000 个单位，仅河内和兴安省就约占 40,000 个单位。在胡志明市，供应预计约为 55,000 个单位。</p>
</div><p>As housing prices in major cities continue to climb, investment capital is expected to increasingly shift towards suburban areas where growth potential remains and prices are more accessible.</p>
<div class="lb-trans"><p>随着主要城市住房价格的持续攀升，投资资本预计将越来越多地转向郊区，那里的增长潜力仍然存在，价格也更为可接受。</p>
</div><p>However, Đính warned that not all suburban areas will be able to attract investment flows. Some localities could face liquidity bottlenecks if transport infrastructure remains incomplete or if developers lack the capacity to build essential amenities.</p>
<div class="lb-trans"><p>然而，阮文定警告称，并非所有郊区都能吸引投资流入。如果交通基础设施尚未完善，或开发商缺乏建设必要设施的能力，一些地方可能面临流动性瓶颈。</p>
</div><p>Where infrastructure networks are not yet synchronised and public services remain insufficient, genuine housing demand is unlikely to grow. This means even projects launched in large volumes may still see slow transaction activity.</p>
<div class="lb-trans"><p>在基础设施网络尚未同步且公共服务不足的情况下，真正的住房需求不太可能增长。这意味着即使是大量推出的项目，交易活动仍可能缓慢。</p>
</div><p>The market in 2026 is therefore expected to undergo stronger screening. Projects with complete legal documentation, locations linked to major transport corridors and development models based on integrated urban planning are more likely to maintain stable liquidity.</p>
<div class="lb-trans"><p>因此，预计 2026 年的市场将经历更强的筛选。法律文件齐全、与主要交通走廊相连的地点以及基于综合城市规划的发展模式的项目更有可能保持稳定的流动性。</p>
</div><p>According to VNREA, despite the likelihood of stronger market segmentation in 2026, the overall trend points towards more sustainable development as speculative activity gradually declines and investment capital increasingly focuses on projects offering real value. — VNS</p>
<div class="lb-trans"><p>根据 VNREA 的说法，尽管 2026 年市场细分的可能性更强，但整体趋势指向更可持续的发展，因为投机活动逐渐减少，投资资本越来越集中于提供真实价值的项目。——越南新闻社</p>
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越南房地产市场的住房可负担性差距正在扩大