Recently, in Ho Chi Minh City, there are two social housing projects that have just announced selling prices and are attracting a lot of attention. Among them, the Ly Thuong Kiet social housing project in Dien Hong ward invested by Duc Manh Joint Stock Company, has a selling price that includes value-added tax of 23,251,398 VND/m2.
With the just announced price, an apartment with an area of about 50m2 in this project has a temporary estimated price of more than 1.16 billion VND, excluding maintenance fees and other adjustments if any. It is known that this project has nearly 800 social housing units that are almost completed.
The second social housing project has also just publicly announced the selling price, which is a high-rise apartment building at 35 Le Van Chi, Linh Xuan ward invested by Phuc Loc Tho Co., Ltd., with 140 units in block C. At this project, the selling price offered by the investor is 35,349,299 VND/m2. This price includes value-added tax but does not include 2% maintenance fee.
The announced prices of the two projects are considered quite good compared to the market. However, looking at the small supply volume, large registration dossiers and financial pressure, the opportunity to buy houses for low-income people is still very narrow. For example, with the Ly Thuong Kiet social housing project, due to its prime location, the project is receiving great attention from those in need.
According to information provided by the Ho Chi Minh City Real Estate Association (HOREA), after receiving the notice of receiving applications, there have been more than 12,000 applications for about 750 apartments in the social housing fund for sale and lease. With a competition ratio of up to 1/16 applications, the race to own a purchase slot here is considered extremely fierce.
With the target of 200,000 social housing units by 2030 (accounting for 1/5 of the total social housing development target nationwide), from the beginning of 2026 to now, Ho Chi Minh City has implemented the construction of 19 social housing projects with a scale of about 20,000 apartments.
Ho Chi Minh City People's Committee said that to complete the social housing development target, the city has developed a very specific implementation plan. In the third quarter of 2026, the city will start construction of 59 projects implemented under the "green channel" mechanism in resolving procedures, with a scale of about 54,900 apartments to be completed in 2027.
However, what is currently worrying, according to reflections from experts and buyers, is not only the shortage of social housing supply, but also the fact that social housing prices are gradually exceeding the affordability of many people with real needs.
The latest survey results conducted by a group of experts from the University of Economics and Law (Vietnam National University, Ho Chi Minh City) just announced show that when asked about the desired price for a standard 50m2 apartment, 39% of buyers expect a price from 500 million to under 1 billion VND. This is considered the most ideal financial "fall point", suitable for the affordability of the majority of workers. About 27.2% accept a higher price, from 1 - 1.5 billion VND.
However, in large cities like Ho Chi Minh City, it is increasingly difficult to develop social housing at this price. Talking to a reporter from Lao Dong Newspaper, the leader of a real estate business in Ho Chi Minh City specializing in developing the social housing for rent segment said that social housing prices are also made up of many factors such as commercial housing, from land costs, construction costs, loan interest... to legal procedures.
However, the difference is that the standard profit margin for social housing is controlled at a maximum level of 10% of total construction investment costs according to current regulations (Housing Law 2023), while input costs are constantly increasing.
Businesses are having to borrow commercial loans at high interest rates, ranging from 12-14% to implement projects, while the profit margin of social housing is strictly controlled at no more than 10%, making it difficult for selling prices to maintain at a low level.
If there is no stronger support policy on land, capital and procedures, social housing, even if it is cheaper than commercial housing, will still be very difficult to reach the right group of people who need housing the most," the leader of the above enterprise said.
