HCMC – Vietnam is pushing for social housing development, with over 581,000 units currently under construction across the country, according to the Ministry of Construction.
The initiative includes 645 projects, of which 94 have been completed, delivering 57,652 units. The ministry has prioritized social housing as a key measure to stabilize the real estate market and address housing shortages for low-income workers.
Deputy Minister of Construction Nguyen Van Sinh said the Government’s plan to build one million social housing units is making progress. One hundred thirty-five projects are underway, and 414 have been approved, representing more than 400,000 planned units.
Vietnam completed 28 social housing projects in 2024, providing 20,284 units, a 46% increase compared to the previous year. The Government also initiated 23 new projects with 25,399 planned units and approved an additional 113 projects, targeting 142,450 units.
Major urban centers, including HCMC, Hanoi and Haiphong, are leading the development. Authorities have allocated over 1,300 land plots spanning nearly 9,800 hectares nationwide for these projects.
While the initiative shows progress, several obstacles remain. Legal and administrative delays, slow disbursement of funds, and uncertainties over new regulations have hindered some projects. A VND120-trillion credit program to support social housing has so far disbursed VND2.36 trillion. Of this, VND2.16 trillion was allocated to developers, while VND198 billion was lent to homebuyers.
Sinh emphasized the need to simplify administrative procedures and accelerate the allocation of land and resources. The ministry aims to complete 100,000 social housing units in 2025, as directed by Prime Minister Pham Minh Chinh.
