In a shift of convention, many young couples are prioritizing financial stability and homeownership over marriage. Rather than saving for a wedding, these couples are committing to mortgage contracts together, seeing this as the true foundation for their future.
After a short dating period of only six months, Ngoc Ly and Huy Hoang, both 30 years old, decided to jointly purchase a 65-square-meter apartment on Tran Phu Street in Hanoi’s Ha Dong District, valued at USD135,000. The couple is not yet married, but they believe that owning a home lays a secure foundation, after which marriage can follow at any time.
Hoang and Ly are both architecture graduates and began dating shortly before Lunar New Year festival of 2024. They had been working for six years before deciding to make a joint property purchase, both to grow their investments and to secure a place of their own.
“In our assessment, we realized that no matter how hard we work, keeping pace with housing prices is almost impossible,” Hoang explains. “As people from other provinces, we’ve always dreamed of having our own place in Hanoi.”
In May 2024, they jointly purchased the apartment in Ha Dong. A bank loan covered 60% of the property’s value. Another couple in Vung Tau, Le Hoai and Thien Nhi, both 26 years old, made a similar decision.
The couple bought a two-story, 30-square-meter house for VND2 billion. Despite criticism and doubt from those around them, they believed purchasing a home should come before their wedding. To afford the house, they sold a homestay in Da Lat and borrowed more from relatives. In June 2024, they moved into their new house.
A Shifting Paradigm
The trend among young people to prioritize homeownership over marriage is growing. According to data from the Vietnam Association of Realtors Institute for Research and Evaluation, buyers aged 25–35 are now involved in over 40% of all transactions, and this figure can rise up to 70% in some housing projects.
Truong Anh Tuan, head of the legal department at the Vietnam Real Estate Association, notes, “In recent years more young people have been pooling money to buy property together, especially in major cities. This reflects a shift in their perspective on ownership, which has become more flexible, pragmatic, and open to risk-taking.”
Dr. La Linh Nga, director of the Center for Psychological and Educational Science Research and Application, adds that young people today approach love with practicality and independence. They plan carefully for each stage of their lives, from dating to marriage, from securing housing to starting a family.
This trend highlights the harsh reality of homeownership dreams in the face of rising property prices and stagnant wages. As a result, the government has initiated programs like the “One Million Social Housing Units” and preferential credit packages to support young buyers.
Questions & Answers
What are the factors influencing young couples to prioritize homeownership before marriage?
Rising property prices and stagnant wages are pushing young couples to prioritize homeownership. They are pooling resources to buy property together as they believe it provides a secure foundation for their future.
What is the government doing to support young property buyers?
The government has initiated several programs like the “One Million Social Housing Units” and preferential credit packages to assist young property buyers.
What does this trend signify about the new generation’s perspective on homeownership?
This trend reflects a shift in perspective among the new generation who are more pragmatic, flexible, and open to risk-taking. They are considering joint property ownership as a form of investment and a step towards financial stability.
