At the end of this year, many social housing projects have delivered houses, and there are also continuous new projects starting construction, especially in big cities like Hanoi with 3 projects starting construction.

This year, the country has completed and put into use an additional 21,000 social housing units . According to the plan set by the Ministry of Construction, the goal is to complete more than 100,000 units in 2025. Since the end of this year, a number of projects have started construction thanks to social support. Thus, the supply of social housing next year has many more positive signs.

Ms. Nhung – a migrant worker from Nam Dinh province, has owned a social housing unit. Having a stable place to live close to Tet has brought many changes to her and her family. “Before, I thought I would never be able to buy one. But now, life is not like renting anymore, it is very stable,” Ms. Nhung shared.

Along with the increase in social housing supply, the State Bank has just announced that in 2025, the interest rate for social housing loans will decrease slightly to 4.7%/year. This is a very positive move to promote the social housing development program.

For Mr. Ngo Quan’s family (Khack Niem ward, Bac Ninh city, Bac Ninh province), the interest rate reduction is the most practical support at this time. “After many years of working, I finally have a dream house. I borrowed money from the bank to buy a house, and each month I pay both interest and principal of more than 5 million,” Mr. Quan confided.

Attracting and having support mechanisms for social housing investors is also considered a focus in the coming time to quickly increase new projects from many investment sources.

Mr. Nguyen Quoc Anh – Deputy General Director of Batdongsan.com.vn said: “Building social housing can come from foreign capital, from union capital for rent. We hope that there will be more role of the state in building social housing…”

Mr. Ha Quang Hung – Deputy Director of the Department of Housing and Real Estate Market Management , Ministry of Construction informed: “We are implementing the Prime Minister’s direction to research and develop a credit package of 30,000 billion VND to support home buyers to enjoy preferential interest rates. We will coordinate with relevant ministries and branches to report to the Prime Minister for approval in the coming time”.

With the strong direction of the Government, the initiative of ministries, branches and localities, and the implementation of the Housing Law 2023, it will help ensure that the project to build at least 1 million social housing apartments will make stronger progress in the coming year.