Lawyer Pham Thanh Tuan - Hanoi Bar Association said that according to the new regulations, low-income people in urban areas, cadres, civil servants, public employees, and workers who are not married or single with an average income of no more than 20 million VND/month are allowed to buy social housing.
In case of raising children under 18 years old, the maximum income is increased to 30 million VND/month. For married people, the total income of the couple does not exceed 40 million VND/month.
In addition, the People's Committee at the provincial level is allowed to adjust the income coefficient in accordance with local realities and issue incentive policies for households with 3 or more dependents.
Previously, the old regulation only allowed single people to earn no more than 15 million VND/month, and couples not more than 30 million VND/month to buy social housing. Therefore, raising the income level for purchasing social housing in accordance with fluctuations in prices and living expenses, expanding access opportunities for civil servants, public employees and workers, low-income people in urban areas.
In addition, the new regulation also changes the agency that confirms income for people without labor contracts.
Accordingly, low-income people in urban areas without labor contracts will have their income confirmed by the police at the commune level where they reside or temporarily reside based on population data. Previously, the authority to confirm belonged to the People's Committee at the commune level.
The assignment to the Commune-level Police confirms the expectation of helping the inspection process to be faster and closer to reality. However, because the police mainly control their residential data and do not manage income, this regulation still poses a risk of arising an "ask - give" and administrative mechanism.
Regarding loan policy, the new regulation clearly states: The lending interest rate is 5.4%/year. The overdue debt interest rate is equal to 130% of the lending interest rate. In case it is necessary to change lending interest rates, assign the Vietnam Bank for Social Policies (VBSP) to preside over and coordinate with the Ministry of Construction and relevant agencies to submit to the Prime Minister for consideration and decision.
For loans signed before October 10, 2025 at VBSP, borrowers are allowed to adjust their contracts to apply new interest rates for both principal and overdue principal. Meanwhile, according to the old regulations, the lending interest rate is equal to the lending rate for poor households prescribed by the Prime Minister, currently at 6.6%/year.
Lawyer Pham Thanh Tuan commented that reducing interest rates from 6.6% to 5.4%/year helps low-income people significantly reduce their financial burden, creating easier conditions to access social housing policies. The regulation allowing the adjustment of old loans also shows humanity, fairness and encourages people to boldly borrow to buy social housing.
