河内 -- 由于房价飙升和借贷成本上升，使得购房日益遥不可及，今年第三季度越南的房地产交易量降至自新冠肺炎疫情期间以来的最低水平。
HANOI -- Real estate transactions in Vietnam for the third quarter of this year fell to their lowest level since during the COVID-19 pandemic, as soaring home prices and rising borrowing costs put homeownership increasingly out of reach.
据建设部数据显示，全国房地产交易量降至92,004套，为2021年第二季度以来的最低水平。可负担住房的短缺也对市场造成了压力。
Nationwide real estate transactions fell to 92,004 units, the lowest since the second quarter of 2021, according to Ministry of Construction data. A shortage of affordable homes also weighed on the market.
这种可负担性危机在首都河内尤为突出。据房地产服务公司萨维尔斯（Savills）称，2021年至2025年，河内首套公寓价格年均上涨25%，相当于四年内价格几乎增长了2.5倍。相比之下，家庭年收入仅增长9%。
The affordability crunch is particularly acute in the capital Hanoi, where primary apartment prices rose by an average of 25% annually from 2021 to 2025, equivalent to an increase of almost almost 2.5 times in four years, according to real state services company Savills. Household incomes, by comparison, grew by just 9% a year.
在2026年头九个月，河内售价超过80亿越南盾（约30.9万美元）的公寓占待售房源的近一半，而2025年这一比例约为20%，更早之前仅为个位数百分比。政府正加大力度发展社会住房和租赁住房，以遏制房价上涨。
Apartments priced above 8 billion dong ($309,000) accounted for nearly half of units offered for sale in Hanoi in the first nine months of 2026, up from around 20% in 2025 and just a few percent in earlier years. The government is stepping up efforts to develop social and rental housing as it seeks to rein in property prices.
周日，总理黎明雄呼吁降低房价，表示政府的预期措施将对市场施加下行压力，特别是对公寓价格。
Prime Minister Le Minh Hung on Sunday called for lower housing prices, saying government measures were expected to put downward pressure on the market, particularly apartment prices.
“当国民议会……通过修订后的土地法时，国家将采取强有力的调控措施，”黎明雄据国家广播电台VTV报道如是说。“届时，土地和房地产价格肯定会下降。”萨维尔斯预测，2026年河内公寓交易量将年环比下降25%至35%，介于16,000至19,000套之间。别墅和联排别墅板块的交易量预计将下降60%至75%，介于1,100至1,800套之间。
"When the National Assembly ... passes the adjusted Land Law, the state will take strong regulatory action," Hung was quoted as saying by state-run broadcaster VTV. "Then, land and real estate prices will definitely fall." Apartment transactions in Hanoi are forecast to decline 25% to 35% year on year in 2026, to between 16,000 and 19,000 units, Savills said. Transactions in the villa and townhouse segment are projected to drop 60% to 75%, to between 1,100 and 1,800 units.
“未来几个月的房地产交易前景仍取决于多个因素，包括按揭贷款利率、购房者的支付能力、销售政策以及新项目启动的速度，” Savills 高级董事 Do Thi Thu Hang 表示。
"The outlook for property transactions in the coming months remains dependent on several factors, including mortgage interest rates, buyers' affordability, sales policies and the pace of new project launches," said Do Thi Thu Hang, a senior director at Savills.
河内提升政策执行能力和基础设施项目推进能力有助于将更多住房项目推向市场。随着基础设施的完善，首都北部、东部和南部地区预计将受益，Hang 说。
Hanoi's improving capacity to implement policies and infrastructure projects could help bring more housing developments to market. Areas in the north, east and south of the capital are expected to benefit as infrastructure is completed, Hang said.
该市正推动一项覆盖道路、桥梁和城市轨道的重大基础设施投资计划。其2026年至2030年的公共投资计划总额约为330亿美元，其中包括跨越红河的七座大桥的资金以及完成约100公里城市轨道的计划。
The capital is pursuing a major infrastructure investment drive spanning roads, bridges and urban rail. Its public investment plan for 2026-to-2030 totals roughly $33 billion, including funding for seven major bridges across the Red River and plans to complete about 100 kilometers of urban railway.
“如果这些地区的房地产项目能够按时启动，整体价格水平必将下降，” Hang 表示。她补充称，额外供应将进一步对价格形成下行压力，而开发商也可能提供激励措施、延长付款计划或提供利率支持，以与购房者分担融资成本、改善销售。
"If real estate projects in these areas are launched in time, the overall price level will inevitably decline," Hang said. Additional supply would put further downward pressure on prices, while developers could offer incentives, extend payment schedules or provide interest-rate support to share financing costs with buyers and improve sales, she added.
胡志明市的公寓楼。根据房地产服务公司 Savills 的数据，作为越南商业中心的胡志明市，2026年前九个月的公寓交易量同比下降26%。
Apartment buildings are pictured in Ho Chi Minh City. Apartment transactions in the city, Vietnam's commercial hub, fell 26% year on year in the first nine months of 2026, according to real estate services company Savills.
放缓趋势不仅限于河内。根据 Savills 的数据，作为越南商业中心的胡志明市，2026年前九个月的公寓交易量同比下降26%。然而，别墅和联排别墅细分市场的交易量在此期间略有上升。
The slowdown extends beyond Hanoi. In Ho Chi Minh City, Vietnam's commercial hub, apartment transactions in the first nine months of 2026 fell 26% year on year, according to Savills. Transactions in the villa and townhouse segment, however, edged up during the period.
房地产放缓发生在借贷成本仍然居高不下之际，越南快速增长的经济带来的强劲信贷需求正对银行系统造成压力。
The property slowdown comes as borrowing costs remain elevated, with strong credit demand across Vietnam's fast-growing economy putting pressure on the banking system.
越南2026年前九个月国内生产总值增长9.01%，为15年来同期最快，推动全经济对资本的需求增加。银行业也面临着管理信贷增长和借贷成本的压力。
Vietnam's gross domestic product grew 9.01% in the first nine months of 2026, its fastest pace for the period in 15 years, increasing demand for capital across the economy. The banking sector is also facing pressure to manage credit growth and borrowing costs.
截至8月底，越南房地产部门的未偿信贷余额达到5.21 quadrillion越南盾（2010亿美元），较2025年底增长9.5%，占全国未偿信贷总额的约25%，据政府新闻网站引用越南国家银行副行长阮玉庆的话称。
Outstanding credit to Vietnam's real estate sector reached 5.21 quadrillion dong ($201 billion) at the end of August, up 9.5% from the end of 2025 and accounting for about 25% of total outstanding credit nationwide, State Bank of Vietnam Deputy Governor Nguyen Ngoc Canh was quoted as saying by the government's news website.
周日，央行指示商业银行将六个月及以上期限的存款挂牌利率每年下调至少0.5个百分点。央行还呼吁银行采取措施，将制造业、商业和优先部门的贷款利率每年下调1.5至2个百分点。
On Sunday, the central bank instructed commercial lenders to cut listed deposit interest rates by at least 0.5 percentage point a year for maturities of six months or longer. It also called on banks to implement measures to reduce lending rates by 1.5 to 2 percentage points a year for manufacturing, business and priority sectors.
银行还被要求多元化信贷组合，并监测房价、市场流动性、项目库存水平和企业债券发行情况，以便及早识别新兴风险。
Banks were also told to diversify their credit portfolios and monitor property prices, market liquidity, project inventory levels and corporate bond issuance to identify emerging risks at an early stage.