HCMC – The Government has raised the income cap for individuals eligible to buy or lease-purchase social homes to VND20 million per month, or VND40 million per month for married couples.
Today, October 11, Prime Minister Pham Minh Chinh, head of the Central Steering Committee for Housing and Real Estate Market Policies, chaired the committee’s second meeting, which focused on breakthrough solutions for social housing development.
Since early this year, he has presided over four national conferences on social housing, and issued three resolutions, three telegrams, and 124 directives related to housing and the real estate market.
Under the major plan to build one million social homes, the country currently has 696 projects under development with a combined 637,048 units. As a result, the number of projects completed, started, or approved for investment by 2025 has reached 60% of the target set in the plan.
From now until the end of the year, an additional 35,125 units are expected to be completed, bringing the total number of completed social homes in 2025 to 84,712 out of 100,275 units, or 84% of the target assigned by the PM.
A total of 22 out of the country’s 34 provinces and cities have met or exceeded their 2025 targets for social housing development. Meanwhile, the Ministry of National Defense and the Ministry of Public Security have begun building housing projects for armed forces personnel to meet the housing needs of officers and soldiers.
Participants at the meeting noted that the management and development of the real estate market in general and social housing in particular still face many difficulties and obstacles. Outdated or inconsistent regulations, mechanisms, and policies have yet to be amended or supplemented to match the current situation.
On October 10, the Government issued Decree 261 amending and supplementing regulations on social housing. The decree raises the income eligibility threshold for buying or lease-purchasing social homes to VND20 million per month per individual, VND40 million per month per married couple, and VND30 million per month for single parents raising minor children.
The PM told the Ministry of Construction to issue a circular to provide detailed guidance following the promulgation of Decree 261, including specific timelines for implementing social housing project procedures.
At the same time, the Government will issue criteria and clarify principles for assigning social housing development tasks to enterprises, with the spirit of placing no limitations on localities or eligible businesses.
