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?

HoREA has proposed allowing the Ministry of National Defense and the Ministry of Public Security to approve buyers for social housing projects, streamlining the process for military and police personnel.

Under a new government initiative, nearly 1 million affordable homes will be built, with priority given to low-income households and workers.

Under the nationwide initiative to eradicate makeshift houses, 49,322 homes have received support, including 26,630 completed and 22,692 under construction. The remainders fall under other National Target Programmes.

If a preferential home credit package is provided to young people under 35, it could create significant social security opportunities.

Amid skyrocketing apartment prices, Hanoi is expediting social housing projects across multiple districts. With thousands of affordable units on the way, will the city’s real estate market finally see relief?

The Ministry of Construction has responded to voter concerns about the high cost of social housing, detailing policies to ensure greater affordability and access.