This information was given by Ms. Pham Thi Thu Ha, Deputy Head of the Social Housing Department (Department of Housing and Real Estate Market Management, Ministry of Construction) at a conference to disseminate the three new laws on land, housing, and real estate business organized by the Vietnam Real Estate Association.

According to Ms. Ha, the conditions for people to rent and buy social housing have been relaxed compared to the provisions of the old law. In particular, the conditions on residence to be guided by social housing policies have been abolished. According to the old regulations, in addition to meeting the income criteria, people must also have a household registration or temporary residence registration when registering to rent or buy social housing in that locality.

"Previously, people in Hanoi could only buy social housing in Hanoi. Now, if you want to buy social housing in Ho Chi Minh City, you only need to prove that you do not have a house in this city to be able to buy it," Ms. Ha gave an example.

The procedure for proving is also simpler when it only requires confirmation that the buyer and his/her spouse (if any) are not listed in the red book in the province or city where the social housing project is located at the time of application, instead of having to verify a lot of information as before.

At the same time, the income limit for social housing buyers has also been significantly increased. According to the old regulations, the condition for enjoying social housing policies is that all family members have regular income and do not have to pay personal income tax - that is, not more than 11 million VND per month. With the new law, the monthly income is increased to no more than 15 million VND or the total income of the couple does not exceed 30 million VND to be eligible to buy social housing.

A representative of the Ministry of Construction said that the procedures for developing social housing under the new law have also been shortened to only 3 steps. In the initial stage, project investors are exempted from land use fees and land rent for the entire social housing project. At the same time, enterprises do not have to carry out procedures for determining land prices, calculating land use fees, land rents, or requesting exemptions. The two steps in the project implementation phase and the project completion phase are not much different from commercial housing projects.

Although many regulations on owning or building social housing have been relaxed, the development of this type of housing has not been as expected. According to the latest report from the Ministry of Construction to the Prime Minister, as of July 2024, the whole country had 79 completed projects with nearly 40,700 units, only reaching 10% of the target by 2025.

The whole country reached nearly 36% of the target by 2025, if including projects that have started and completed. Some localities have a rapid construction rate and exceed the target such as Khanh Hoa (104%), Thanh Hoa (74%), Hau Giang (53%), Binh Thuan (37%)... Many localities are also actively attracting investment in social housing projects such as Bac Ninh (16 projects), Thanh Hoa (10), Hai Phong (9), Dong Nai (8)...

However, in the two special urban areas - the highest housing demand is Hanoi, Ho Chi Minh City, the construction of social housing is still slow, less than 40% of the target. Specifically, Hanoi must build 18,700 units by 2025, but only 3 projects have started construction (1,700 units) and 5 projects have been completed, with 5,200 units, reaching nearly 37% of the target.

Anh Tú