HCMC – HCMC has completed only 6,657 social housing units since 2021, meeting 3.3% of its target of nearly 200,000 units by 2030, according to the municipal Department of Construction.
Under a government plan issued in February, the city would develop 199,400 social housing units by 2030. Of this total, 100,000 units are planned for HCMC, 86,900 for the former Binh Duong Province, and 12,500 for the former Ba Ria-Vung Tau Province.
Between 2021 and now, HCMC has put into use 3,417 units across six projects in the city area, 2,927 units in the former Binh Duong area through eight projects, and 313 units in the former Ba Ria-Vung Tau area across two projects.
Currently, 11 projects with a combined 11,654 units are under construction. Another six projects, totaling 5,263 units, are ready to break ground after receiving construction permits. In addition, 26 projects with 24,674 units have received investment approval.
The department said progress has been hindered by several challenges, especially site clearance and compensation issues, which have delayed or stalled many projects.
For commercial housing projects with land areas exceeding 10 hectares, developers are required to allocate 20% of the land for social housing. However, many developers have been slow to complete compensation procedures, build infrastructure, or hand over the designated land to authorities.
To address these issues, the city has introduced policies to support both developers and homebuyers. Developers can access interest rate support from the city’s budget under Resolution 09, with loans of up to VND200 billion per project for a maximum of seven years. They may also receive bank loans at rates 1.5 to 2 percentage points lower than average medium- and long-term rates at state-owned commercial banks.
