By June 7, authorities across the country had supported the repair or construction of 205,115 houses for disadvantaged households. Of these, 147,261 homes have been completed, while 57,854 are under construction.

The developer of the Thuong Thanh social housing project in Long Bien District, Hanoi, is using online registration with technology that enables the handling of thousands of application submissions.

Nine commercial banks in Vietnam have committed to offering preferential loans for young people under 35 to purchase social housing, with a fixed interest rate of 6.1% per annum applied through June 30, 2025.

The real estate market in the 2021-2023 period faced numerous challenges, including a supply shortage, imbalanced product structure, and a shortage of social housing and homes for low- and middle-income earners.

Thousands of unused units on prime land may be repurposed to solve housing needs.

Owning social housing remains only a dream for low-income earners. With a monthly average income of around VND10 million, accessing a home is out of reach for most.

Five years after its completion, the commercial housing project for resettlement in the X2 area in Hanoi has only a few residents.

Lawmakers are examining a draft resolution on piloting several mechanisms and policies to accelerate the construction of the affordable houses while creating more favourable investment conditions for private enterprises entering the segment.

NA Chairman Tran Thanh Man stressed that social housing has become an increasingly urgent issue, especially in urban areas and industrial zones.

PM Pham Minh Chinh has asked ministries, agencies and localities to take bold, focused and effective actions to achieve the goal of basically wiping out makeshift and run-down houses nationwide by October 31, two months ahead of the initial target.

From now to the end of 2025, several social housing projects in Hanoi are expected to be eligible for sale and will accept applications for purchase and rent-to-own, with prices of VND18-25 million per sq m.

The Prime Minister has declared housing eradication a national mission, with over 100,000 units to be completed in 2025.

A list of criteria to be eligible for buying social housing will be created, and swindlers abusing the system will be strictly punished, the Prime Minister has said.

The Hanoi Department of Construction has called on city police to investigate unauthorized brokers who charge illegal fees for social housing applications.

Ho Chi Minh City authorities have announced a new regulation giving priority to women, alongside vulnerable groups, in renting social housing built with public investment.

In response to government initiatives, banks are launching long-term mortgage solutions with rates starting at just 3.6%, enabling young people to own homes with minimal financial stress.

Large real estate firms, including Vingroup, Sungroup, Ecopark, Viglacera and 10 commercial banks, have been invited to a national conference aimed at resolving bottlenecks and promoting the development of social housing.

While acknowledging certain progress in social housing construction, the Government leader noted that results have yet to meet expectations.

Thousands of social housing projects in Hanoi will soon begin construction, a positive sign for average workers amid rising prices for commercial apartments. However, experts say that ensuring accessibility to affordable housing remains a challenge.

Despite government incentives, social housing in Vietnam is still too expensive for low-income families. What can be done to fix this?