Rising property prices drive up living costs in Da Nang

Vietnam's National Statistics Office ranked Da Nang fifth in the country for cost of living in 2025, after Hanoi, Quang Ninh Province, Hai Phong City, and Ho Chi Minh City, marking a shift from its previous reputation as a low-cost city.

Residents say housing and food costs have climbed in recent years, with low-priced meals becoming scarce and rents rising sharply, including small apartments of about 16 square meters renting for around VND4 million ($152) per month excluding utilities.

Rooms priced below VND1.5 million ($57) have become difficult to find, while average incomes for many workers remain between VND7 million ($266) and VND12 million ($456) and have grown slowly.

Data from the Vietnam Association of Realtors shows apartment prices in Da Nang have risen about 68 percent since early 2019, with primary market prices reaching roughly VND83 million ($3,152) per square meter, up 14 percent from 2024.

The city's statistics office said housing costs continued to rise, with rental prices increasing 2.03 percent last month due to sustained demand and post-holiday home repairs.

Land prices have surged several-fold over the past decade, with some areas rising more than tenfold, driven by urban development, major infrastructure projects, and strong investor demand.

Authorities said they are tightening market oversight and adjusting land prices to curb speculation, while expanding social housing projects, including nearly 2,907 units delivered in 2025 and plans for about 43,000 units by 2030, with 5,000 units targeted for completion in 2026.