According to current regulations, one of the conditions for people to buy social housing is an income of no more than 15 million VND/month (for single people) and no more than 30 million VND/month (for husband and wife).
Prime Minister Pham Minh Chinh recently agreed with the proposal of the Ministry of Construction on raising the threshold of income allowed to buy social housing. According to the proposal, single people with an income of no more than 20 million VND/month and households of the couple with no more than 40 million VND/month will be approved. This is a positive signal, opening up opportunities for many workers who are " backward-throwing" between the two segments.
Talking to Lao Dong, Mr. Le Van Khanh (29 years old, from Hung Yen) currently works in the media sector in Hanoi with an average income of about 18 million VND/month. Although he is renting a house and wants to buy it to stabilize his housing, he is not eligible to participate in the social housing program because his income exceeds the prescribed level.
"I was unable to buy a commercial apartment, but when I learned about social housing, I was informed that I was not qualified because my income exceeded 15 million VND/month. If the income condition is increased to 20 million VND/month, it would be great, I hope this policy will be applied soon so that I have the opportunity to own a house" - Mr. Khanh shared.
Ms. Tran Thi Lan and her husband are both office workers and are currently renting a room in Dong Anh ward (Hanoi). With a total income of about 33 million VND/month, they are not eligible to buy social housing.
"We plan to have children, so we really hope to have a more spacious and stable place to live. However, with the expensive cost of living in the capital, despite trying to save, the couple still have difficulty buying a commercial apartment. I hope that the income conditions to buy social housing will soon be expanded, so that many young families like us have the opportunity to reach the dream of settling down" - Ms. Lan expressed.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club said that raising the income requirement from 15 million to 20 million VND/month to be considered for social housing in Hanoi and large cities is necessary, creating conditions for more people to access social housing.
In addition, Mr. Diep emphasized that social housing should not be considered a low-income housing, but should aim for the same quality. Social housing needs to ensure technical infrastructure, accompanying social infrastructure, and a civilized living space, not to repeat the situation of old, poor quality apartment buildings.
"Social housing should only be different from commercial housing at preferential prices and moderate areas, while the quality of construction and technical infrastructure must be similar. This concept needs to be unified to avoid the formation of poor quality housing areas, distorting social security policies" - Mr. Nguyen The Diep shared.
Regarding financial solutions for buying houses for young people, Ms. Cao Thi Thanh Huong - Senior Manager, Consulting and Research Department of Savills - said that loan packages should be designed with a term of 20 - 30 years, corresponding to the entire labor cycle of borrowers. This helps young people reduce the burden of debt repayment and have more conditions to access housing.
According to Ms. Huong, the credit package for young people is not only a financial tool, but also the "key" to solving the problem of settling down and stabilizing society in the long term. To do that, it is necessary to have synchronous coordination between the State, banks and businesses.
