Pham Hoai Nam used to think that being a grown-up means having a stable job, a good salary, a beautiful girlfriend, and his own house.

Now, at age 28, he is able to check off all of those items except the last one.

“My girlfriend and I plan to get married next year, and our only major concern now is finding a place to live,” Nam, who works as an electronics salesman in Hanoi, says.

He is among many young Vietnamese in major cities who are finding that their dream of owning a home is becoming increasingly elusive as real estate prices rise faster than incomes amid a decline in affordable apartment supply.

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