The Ministry of Construction is seeking opinions on draft amendments and supplements to a number of regulations on the development and management of social housing, in which the proposal to relax the income ceiling to expand the beneficiaries of policies is noteworthy.
According to the draft, in case the applicant is a single person, with an average monthly actual income of no more than 25 million VND (according to the confirmed salary and wage scale), they will be eligible to buy social housing. For single people raising minor children, the maximum income level is increased to 35 million VND/month.
For married people, the total average monthly income of the couple does not exceed 50 million VND, an increase of 10 million VND compared to current regulations.
In addition, the draft also assigns localities to decide on incentive policies to support access to social housing for households with 3 or more dependents.
The adjustment of the income ceiling is expected to expand housing access opportunities for middle-income workers – who are facing many difficulties in the context of rising house prices in major cities.
Regarding the goal of developing social housing, Vietnam is implementing a project to invest in at least 1 million apartments. Currently, the whole country has 220 projects that have started construction and are being implemented with a scale of nearly 250,000 units, expected to reach about 135% of the annual target.
Accumulated to date, there are 737 social housing projects being implemented with a scale of 701,347 units, equivalent to more than 70% of the target by 2030. The Ministry of Construction said that with the current progress, the possibility of completing the target of 1 million social housing units may be completed about 2 years earlier.
