HCMC – The interest rate for social housing loans in Vietnam will decrease from 4.8% to 4.7% per year starting January 1, 2025.
Nguyen Thi Hong, governor of the State Bank of Vietnam, issued Decision 2690/QĐ-NHNN/2024 to set the new interest rate, reported the Vietnam News Agency. The adjustment applies to loans disbursed under Circulars 11/2013, 32/2014, and 25/2016.
This reduction of 0.1 percentage point aims to make social housing loans more accessible and affordable for citizens.
The decision also includes an appendix listing 17 commercial banks with outstanding refinancing loans for housing support. These banks include BIDV, Vietcombank, VietinBank, Agribank, SHB, SeABank, TPBank, Eximbank, PVCombank, OCB, NamABank, LPBank, VietBank, NCB, VIB, VPBank, and SCB.
According to the Ministry of Construction, Vietnam has implemented 644 social housing projects nationwide, providing a total of 580,109 units.
The ministry anticipates the completion of more than 100,000 additional social housing units across the country in 2025.
As part of its broader goals, the Ministry of Construction aims to raise the national average housing area to 27 square meters per person and achieve an urbanization rate of at least 45%.
