HCMC – The People’s Committee of Hanoi City has proposed lowering lending rates for buyers and tenants of social housing to 4.8% per year from the current 6.6%, starting in 2026.
The proposal is included in a draft resolution on loan policy for low-income households, policy beneficiaries, and other priority groups. Funding would come from the city’s budget and be entrusted to the Vietnam Bank for Social Policies.
Under the plan, the 4.8% rate would apply not only to social housing and housing for armed forces members but also to loans for poor and near-poor households to build or repair homes, student loans, and overseas work programs.
Households recently escaping poverty and those borrowing for job creation would continue to face a 6.6% rate, while small businesses receiving job-support loans could benefit from a 6% rate.
Currently, loans for social housing buyers through the policy bank remain at 6.6% under Decree 10/2024. Experts have noted this is relatively high compared to rates at some commercial banks. The Ministry of Construction earlier proposed cutting the rate to 5.4% in a draft amendment to Decree 100/2024.
From 2026 to 2030, Hanoi estimates around 641,800 people will need access to credit, with total loan demand of VND55.9 trillion to VND83 trillion. If approved, the new preferential rate would take effect in early 2026.
As part of Vietnam’s plan to build at least one million social homes by 2030, Hanoi has been assigned 56,200 units, among the highest targets nationwide. This year alone, the city expects to complete six projects with more than 4,700 units, surpassing its annual goal.
