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New Income Thresholds for Social Housing Eligibility in Vietnam

Original URL: https://znews.vn/chinh-thuc-vo-chong-thu-nhap-40-trieuthang-duoc-mua-nha-o-xa-hoi-post1586381.html

Introduction

The Vietnamese government has recently updated the income criteria for individuals and families to be eligible to purchase social housing. This adjustment, outlined in Nghị định 261/2025, aims to broaden access to affordable housing and reflect current economic realities. This change addresses previous concerns that outdated income limits were preventing eligible individuals from accessing social housing programs.

Increased Income Thresholds

  • The new regulations raise the maximum monthly income for individuals to 20 million VND and for married couples to 40 million VND to qualify for social housing.
  • Individuals who are unmarried or single parents with children under 18 can qualify with a monthly income not exceeding 30 million VND.
  • Income is verified through salary statements or confirmation from employers. For those without formal employment contracts, local police will verify income based on residential data within seven days of request.

Local Adjustments and Incentives

  • The updated regulations allow provincial and municipal People's Committees to adjust income coefficients based on local economic conditions.
  • Local authorities can also implement policies to incentivize households with three or more dependents.

Previous Regulations

  • Previously, the income limit for single individuals was 15 million VND per month, and for households, it was 30 million VND per month.

Reduced Interest Rates

  • The interest rate for preferential loans for social housing has been reduced from 6.6% to 5.4% per year.
  • The overdue interest rate is set at 130% of the loan interest rate.
  • Loans issued by the Social Policy Bank before October 10th are eligible for interest rate adjustments based on the new rate.

Government Objectives

  • These adjustments aim to expand the beneficiary pool, enabling more people with average incomes to access social housing.
  • The government seeks to stimulate the consumption of social housing and encourage developers to invest in such projects.

Government Directives

  • Prime Minister Phạm Minh Chính has instructed the Ministry of Construction to issue guidelines for implementing Nghị định 261, particularly regarding project timelines.
  • The government intends to establish criteria and principles for allocating social housing projects to businesses without regional or business limitations.
  • Measures to prevent corruption, abuse, and policy exploitation will be implemented.
  • The State Bank of Vietnam is tasked with expediting the disbursement of the 145 trillion VND package for social housing and worker housing, ensuring streamlined procedures while managing risks and speculative lending in the real estate sector.
  • Commercial banks are urged to reduce lending rates through cost-cutting and technological advancements, supporting both investors and homebuyers.

Additional Information

  • The Ministry of Construction proposed amendments to allow individuals without labor contracts to access social housing with verification from local police.
  • A social housing project in Hanoi, Thăng Long Green City, has begun accepting applications with an expected price of 18.4 million VND per square meter (including VAT and maintenance fees).

Conclusion

The Vietnamese government's adjustments to income thresholds and interest rates for social housing represent a significant step toward increasing access to affordable housing. By addressing outdated regulations and providing local authorities with greater flexibility, the government aims to create a more inclusive and responsive housing market that meets the needs of its citizens. The emphasis on transparency, streamlined processes, and preventative measures against corruption underscores the commitment to equitable housing opportunities for all.