Price Determinants of Affordable Apartments in Vietnam: Toward the Public–Private Partnerships for Sustainable Housing Development
1
Department of Civil and Environmental Engineering, Seoul National University, Seoul 08826, Korea
2
National Housing Organization, Ho Chi Minh City 700000, Vietnam
*
Authors to whom correspondence should be addressed.
Sustainability 2018, 10(1), 197; https://doi.org/10.3390/su10010197
Received: 11 December 2017
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Revised: 30 December 2017
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Accepted: 12 January 2018
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Published: 15 January 2018
(This article belongs to the Special Issue Regional Cooperation for the Sustainable Development and Management in Northeast Asia)
Since the Doi Moi policy of economic reform in 1986, Vietnam has experienced economic development and housing market growth with increasing foreign direct investment. While high-end apartment development has dominated since the emergence of the privatized housing market, more recent focus is on the affordable apartment segment with the remarkable surge of middle-income households in Ho Chi Minh City (HCMC). While most previous studies have analyzed housing price determinants based on locational classification, this study is based on the affordability framework of the housing market in HCMC. It aims to investigate the price determinants of affordable and unaffordable apartment units using the hedonic regression model. The study identified common factors between the two types of apartments, such as vertical shared access and proximity to downtown, as well as unique factors for each, such as more high-rise towers, foreign development, proximity to main roads, and shopping malls only for the affordable segments. The findings have valuable implications, not only for future investors and developers in setting up successful housing development strategies, but also for the public sector in strongly encouraging public–private partnerships for sustainable housing development in Vietnam.
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MDPI and ACS Style
Seo, D.; Chung, Y.S.; Kwon, Y. Price Determinants of Affordable Apartments in Vietnam: Toward the Public–Private Partnerships for Sustainable Housing Development. Sustainability 2018, 10, 197. https://doi.org/10.3390/su10010197
AMA Style
Seo D, Chung YS, Kwon Y. Price Determinants of Affordable Apartments in Vietnam: Toward the Public–Private Partnerships for Sustainable Housing Development. Sustainability. 2018; 10(1):197. https://doi.org/10.3390/su10010197
Chicago/Turabian StyleSeo, Ducksu, You S. Chung, and Youngsang Kwon. 2018. "Price Determinants of Affordable Apartments in Vietnam: Toward the Public–Private Partnerships for Sustainable Housing Development" Sustainability 10, no. 1: 197. https://doi.org/10.3390/su10010197
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