Raising the income ceiling to 40 million VND/month for couples to buy social housing

Illustration photo.

The Government has just issued Decree 261 amending and supplementing a number of articles on the development and management of social housing. Specifically, from October 10, the income ceiling for consideration to purchase or rent-purchase social housing will be raised to 20 million VND/month for individuals, 40 million VND/month for couples and 30 million VND/month for single individuals raising children under the age of majority.

According to old regulations, the maximum income to buy social housing is 15 million VND/month for single people and 30 million VND/month for households.

Individuals include low-income earners in urban areas, officials, civil servants, public employees, and single people. Income is calculated according to the wage and salary table confirmed by the agency, enterprise, or unit the subject works for.

Income is determined based on the payroll or confirmation from the agency or unit where the person works. Those without a labor contract will have their income confirmed by the commune-level police based on population data, with a maximum processing time of 7 days from the date of receipt of the request.

Notably, the new decree also allows the chairmen of the People's Committees of provinces and cities to decide to adjust the income coefficient in accordance with the economic conditions of each locality, or issue incentive policies for households with 3 or more dependents.

Currently, in addition to adjusting income, the new decree also reduces preferential loan interest rates when buying social housing, from 6.6% to 5.4%/year, overdue interest rates equal to 130% of loan interest. In particular, loans signed before October 10 at the Social Policy Bank are allowed to adjust contracts to apply new interest rates for both principal and overdue balances.

According to the Government leader, this adjustment aims to expand the beneficiaries, create conditions for middle-income people to access social housing, while promoting product consumption and encouraging investors to implement projects.

In the first 9 months of 2025, the whole country is investing in the construction of 132,616 units, starting 73 new projects with a scale of 57,815 units. 50,687/100,275 units have been completed (reaching 50.5%), it is expected that by the end of 2025, an additional 38,600 units will be completed (total of 89,007/100,275 units, reaching 89%).

The Ministry of Public Security has started construction on six housing projects for the People's Armed Forces with a total of 4,220 units. The Ministry of National Defense plans to start construction on eight housing projects for the Armed Forces with a total of 6,547 units.

16 localities are expected to achieve and exceed the assigned targets, including: Hanoi, Ho Chi Minh City, Da Nang, Hue, Bac Ninh, Hai Phong, Ninh Binh, Dong Nai, Hung Yen, Nghe An, Quang Ninh, Thai Nguyen, Ca Mau, Quang Tri, Quang Ngai, Tuyen Quang. 7 localities including Phu Tho, Thanh Hoa, Can Tho, Lao Cai, Khanh Hoa, Tay Ninh, An Giang are likely to complete the targets.

At the second meeting of the Central Steering Committee on housing policy and real estate market on the morning of October 11, the Prime Minister directed the State Bank of Vietnam to urge the disbursement of the VND145 trillion credit program for social housing and worker housing in a more favorable, accessible, and manageable manner, while controlling speculative real estate credit that causes a real estate bubble.

Banks continue to cut costs and apply technology to reduce loan interest rates for both investors and home buyers.

Source: https://vtv.vn/nang-tran-thu-nhap-40-trieu-dong-thang-cho-vo-chong-mua-nha-o-xa-hoi-100251012123024414.htm