"Launchpad" for growth

(NB&CL) In the context of Vietnam's goal of rapid and sustainable growth in the 2026-2030 period, social housing is being seen not only as a social welfare policy, but also as a "dual driver" for the economy.

The strong development of this segment not only addresses the housing needs of millions of workers but also creates a significant ripple effect by activating a range of related industries such as construction, materials, finance and banking, infrastructure, and logistics.

Speaking with a reporter from the Newspaper of Journalists and Public Opinion, Ms. Pham Thi Mien, Deputy Director of the Vietnam Real Estate Market Assessment Institute (VARs IRE), emphasized: When implemented correctly, social housing serves as both a "foundation for social security" and a "launching pad" for Vietnam's economic growth.

Ms. Nguyen Thi Mien, Deputy Director of the Vietnam Real Estate Market Research and Evaluation Institute (VARs IRE)

+ In your opinion, given the increasing pressure on housing needs of vulnerable groups, what is the significance and role of social housing development policies in ensuring social security and stabilizing people's lives?

- First and foremost, it must be affirmed that the social housing development policy is one of the important pillars of social security, possessing profound humanitarian value. This policy aims to ensure that vulnerable groups have access to affordable housing, thereby narrowing the housing gap between different population groups, contributing to maintaining social stability, and demonstrating the State's responsibility in guiding sustainable development.

Therefore, in recent times, the Government , along with ministries, sectors, and localities, have taken decisive action, closely monitoring the implementation process to bring new policies, support programs, and incentives into practice as soon as possible. Although the results so far have not fully met expectations, these efforts have initially created clear changes, with the supply of social housing achieving noteworthy results.

According to a recent report by the Ministry of Construction , to date, the whole country has 698 social housing projects under implementation with a scale of 657,441 units, an increase of 13% compared to the end of 2024. In 2025 alone, the country completed 102,388 out of 100,275 units, reaching 102%; and simultaneously commenced 85 new projects with a scale of 91,431 units.

Notably, as many as 19 localities have met their assigned targets for 2025, including major cities with high housing demand such as Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, etc.

With the current progress, Vietnam has grounds to expect to achieve the target of approximately 1 million social housing units by 2030, in accordance with the Government's plan to develop at least 1 million units.

Besides its role in ensuring social security for vulnerable groups, what ripple effects, in your opinion, is social housing creating on the growth and structure of the Vietnamese economy?

In my opinion, besides its social welfare significance for vulnerable groups, social housing also creates many ripple effects on the Vietnamese economy, such as the following.

Firstly , social housing helps vulnerable groups eligible for social welfare programs to access housing. Once they have a place to live , they will have a more stable life, allowing them to focus on career development, thereby contributing to the growth of businesses in particular and the economy in general.

At the same time, the reduction of housing pressure also gives this group the opportunity to improve their quality of life, thereby increasing their spending on entertainment, recreation, and healthcare, and promoting the development of related sectors.

Secondly , the implementation of social housing projects also contributes to the development of a group of related industries such as construction, building materials, interior design, consumer goods, and logistics, etc.

According to data from the General Statistics Office of the Ministry of Finance, the construction and real estate sector has contributed an average of about 10% to Vietnam's GDP in recent years; the real estate business sector alone accounts for about 3.5% of GDP. This shows that social housing in particular and the real estate market in general are playing an increasingly important role in economic growth and macroeconomic stability.

By 2025, 19 localities nationwide will have met their assigned targets for social housing, including Hanoi and Ho Chi Minh City. Photo: Provided

+ In the context of continuously record-high housing and real estate prices, far exceeding the affordability of the majority of the population, how do you think social housing can become a "regulating valve" for the market and a driver of sustainable growth in the future?

- Over time, although the supply shortage has gradually improved, the supply structure remains unbalanced. Most products offered on the market are priced high, exceeding the affordability of the majority of the population.

This problem stems from several factors, including rising input costs, particularly land access costs, and additional costs incurred during project suspensions due to legal obstacles. This also makes it difficult for businesses to restructure their selling prices to bring them to a more reasonable level.

Meanwhile, with the advantage of receiving support from mechanisms and policies, the development of social housing will contribute to stabilizing the market and supporting the goal of sustainable growth.

Specifically, social housing will contribute to increasing the supply of affordable housing. When this supply reaches a certain level, it will become a competitive factor, forcing the supply of commercial housing to adjust its selling prices to a more appropriate level to ensure absorption capacity.

Secondly, although instances of "policy exploitation" still exist in some areas, social housing is essentially a segment directly targeting those with genuine housing needs, not a product for speculation or short-term trading.

When the demand for actual housing is facilitated to transform into market demand through appropriate credit policies, land funds, and distribution mechanisms, capital will shift from speculation to real consumption, thereby reducing speculative pressure, limiting psychological price increases, and contributing to stabilizing real estate prices in the medium and long term.

At the same time, expanding the social housing segment also helps the real estate market operate closer to the actual needs of the economy, thereby enhancing sustainability, improving real liquidity, and minimizing the risk of price bubbles in subsequent cycles.

So, in your opinion, what obstacles and difficulties does Vietnam need to address in order for the social housing segment to continue to be a driver of double-digit economic growth?

- Over the past period, the mechanisms and policies for developing social housing have been adjusted and supplemented in a direction that is increasingly open and substantive.

The Housing Law of 2023, along with its implementing guidelines, particularly Decree No. 100/2024/ND-CP and subsequent amendments, has expanded incentives for investors regarding exemptions and reductions in land use fees and land lease fees, simplified investment procedures, and facilitated access to preferential credit sources.

At the same time, regulations on eligibility and conditions for purchasing or renting social housing have been adjusted to better suit income levels and market realities. However, the key factor lies in the implementation and supervision process.

This requires stakeholders, especially local authorities, to be serious, proactive, and consistent in complying with regulations, thereby creating the most favorable environment and conditions for investors to implement projects on schedule and according to objectives.

Thank you, ma'am!

Source: https://congluan.vn/be-phong-cho-tang-truong-10329338.html