TIÊU ĐIỂM: Giúp người dân tiếp cận nhà ở xã hội: Khi chính sách chuyển động, cuộc sống có đổi thay?

Key Concepts

• Nhà ở xã hội (Social Housing)
• An cư lạc nghiệp (Settling down to pursue a career)
• Thu nhập thấp/trung bình (Low/average income)
• Lãi suất vay ưu đãi (Preferential loan interest rate)
• Điều kiện mua nhà (Housing purchase conditions)
• Thủ tục hành chính (Administrative procedures)
• Nguồn cung nhà ở xã hội (Social housing supply)
• Ngân hàng Chính sách Xã hội (Social Policy Bank)
• Nghị định 26/2025/NĐ-CP (Decree 26/2025/ND-CP)
• Nghị quyết 20/2025/QH15 (Resolution 20/2025/QH15)

The Long-Awaited Dream of Social Housing

For over a decade, social housing has been a distant dream for many Vietnamese workers. However, with policy shifts in 2025, including reduced loan interest rates, relaxed eligibility criteria, and streamlined procedures, the prospect of homeownership for laborers is becoming more tangible. The traditional Vietnamese saying, "An cư rồi mới lạc nghiệp" (Settle down before pursuing a career), highlights the importance of stable housing. For young workers in major urban centers like Ho Chi Minh City and Hanoi, this dream remains elusive due to soaring property prices, stagnant incomes, and escalating living costs, making apartment ownership a significant challenge.

Social housing is envisioned as a crucial pathway to stable housing for millions with low to average incomes in urban and industrial zones. However, several obstacles persist, including supply shortages, pricing, interest rates, and access to capital.

Challenges Faced by Low-Income Earners

• Limited Savings: Individuals like Ms. Diep, earning 16-20 million VND per month, struggle to save after covering rent and essential living expenses. Her meager savings make purchasing a commercial apartment in Ho Chi Minh City, where prices exceed 100 million VND per square meter, an impossible feat. She expresses a strong desire for social housing to achieve stability.
• High Property Prices: Even when social housing projects are available, prices ranging from 20-30 million VND per square meter remain unaffordable for many low-income workers.
• Monthly Installment Burden: Despite potential access to loans covering 50% of the property value, the monthly mortgage payments, coupled with interest and living costs, pose a significant financial strain. One young worker notes that even with the prospect of buying a home, the monthly interest payments are a major hurdle, rendering immediate purchase unfeasible.

Expert Perspectives and Proposed Solutions

Experts suggest that financial institutions should offer flexible loan packages tailored to the financial capabilities of potential buyers. Conversely, borrowers must demonstrate stable income, repayment capacity, and a reasonable initial savings deposit. The implementation of low and stable interest rates is identified as a key factor in alleviating financial pressure and fostering confidence in homeownership.

Historical Context and Recent Policy Reforms

The concept of social housing was first introduced into the Housing Law in 2005. Despite two decades passing, owning social housing in major cities remains a persistent challenge. Past media reports, including those from VTV nine years ago, have highlighted the inability of low-income individuals to purchase social housing due to insufficient income.

In response, the government has intensified efforts to realize the goal of providing 1 million social housing units for low-income individuals and industrial zone workers by 2030, with 100,000 units slated for completion this year. This initiative is supported by a raft of new policies.

Key Policy Changes in 2025:

• Relaxed Eligibility Criteria (Decree 26/2025/NĐ-CP, effective October 10, 2025):
  • Single individuals with incomes up to 20 million VND/month are eligible.
  • Single individuals raising children with incomes up to 30 million VND/month are eligible.
  • Couples with a combined income up to 40 million VND/month are eligible.
  • These adjustments are a significant departure from previous regulations, reflecting current income levels and living costs, and expanding access for civil servants, public employees, and urban workers.
• Reduced Preferential Interest Rates: The preferential loan interest rate at the Social Policy Bank has been lowered from 6.6% to 5.4% per annum, applicable to both new and existing loans. This measure aims to reduce the financial burden on citizens and facilitate their settlement.
• Streamlined Procedures for Developers (Resolution 20/2025/QH15, effective June 1, 2025):
  • Significant reduction in administrative procedures.
  • Exemption from bidding requirements.
  • No need for detailed planning tasks.
  • Waiver of construction permits.
  • Shortened appraisal steps.
  • These reforms are projected to shorten project implementation timelines by at least 350 days, accelerating the development of social housing projects nationwide and contributing to social welfare and stable livelihoods for millions.

Real-World Impact and Case Studies

The reduction in the Social Policy Bank's lending interest rate for social housing from 6.6% to 5.4% is a practical step that eases repayment burdens and brings people closer to their homeownership dreams.

• Thái Nguyên Province: This province, with a large industrial workforce of over 100,000 workers, has seen positive impacts.
  • Mr. Hoàng Văn Nhàn: A factory worker in Thái Nguyên for over a decade, Mr. Nhàn, with his modest income, had never imagined owning a home. Thanks to the new policies and preferential loans from the Social Policy Bank (up to 70% of the apartment value with a 25-year term), he and his wife, with their savings of over 200 million VND, were able to purchase their first home. The reduction in interest rates to 5.4% from October has significantly lowered his monthly mortgage payments, freeing up funds for family expenses.
  • Ms. Vũ Thị Luyến: In 2019, Ms. Luyến borrowed 400 million VND to renovate her dilapidated house. The loan was a considerable burden on her modest income. The recent interest rate reduction has provided her with much-needed relief, allowing for savings to cover living expenses and her children's education.

Broader Impact and Future Outlook

The reduction in social housing loan interest rates is not only supporting individuals but also driving the "1 million social housing units by 2030" program. The Social Policy Bank collaborates with local authorities annually to assess borrowing needs and plan for social housing loans in the following year.

This policy, coupled with Resolution 20/2025/QH15 on land and capital mechanisms, forms a comprehensive support ecosystem that boosts social housing supply and improves access to affordable loans, aiming to enable stable livelihoods for hundreds of thousands of Vietnamese families.

• National Progress: As of the end of Q3 2025, 696 social housing projects are underway nationwide, comprising 637,048 units. The new policies have encouraged businesses to invest more actively in social housing projects, with experts predicting a significant increase in supply.
• Thái Nguyên's Đại Thắng Residential Area Project: This project, initiated in May 2024, spans over 11 hectares, with nearly 1 hectare dedicated to social housing, including 34 townhouses and an 18-story apartment building with 361 units (26-70 m²), catering to approximately 800 low-income families and workers. All units were registered for purchase shortly after their release, demonstrating high demand. The developer plans to launch another project with over 1,000 units in Thái Nguyên due to the favorable interest rate environment.
• Ho Chi Minh City: The city, facing high housing pressure for its workforce, is also prioritizing social housing development, focusing on integrated urban models that include amenities like parks, schools, hospitals, and recreational facilities. One developer aims to build 40,000 social housing units in Ho Chi Minh City and Đồng Nai, with units priced around 750 million VND, offering a reasonable option for low-income earners. These projects contribute to Ho Chi Minh City's goal of nearly 200,000 social housing units by 2030.

Business Confidence and Future Growth

The market is showing signs of recovery, bolstered by renewed business confidence. Expanded target customer bases and supportive policies, including land allocation and access to low-cost capital, are crucial for developers to invest in social housing.

Social housing is presented not just as shelter but as a foundation for stability and development for millions of working families. With open policies and corporate engagement, the dream of homeownership for low-income individuals is becoming a reality.

By the end of Q3 2025, 60% of the planned social housing projects (completed, under construction, or with approved investment policies) have been realized. The Ministry of Construction is focused on accelerating social housing development to meet the target of 100,000 units this year. Future efforts will concentrate on removing legal barriers, streamlining administrative procedures, mobilizing financial resources, and improving infrastructure and living quality to achieve the 1 million unit target by 2030, thereby resolving the issue of difficult access to social housing for citizens.