Bank credit - driving force for social housing projects

Da Nang City is speeding up the implementation of social housing projects to meet the increasing housing needs of the people, especially low-income laborers and workers in industrial zones.

Increase the supply of social housing

In just a short time, a series of projects have been allowed to open for sale by the city, creating positive signals for the market and opening up housing opportunities for thousands of households.

As one of the localities with high urbanization rate in the country, the price of commercial housing in Da Nang is constantly increasing, making home ownership a big challenge for many workers. After merging administrative units, the rapid increase in population size makes the need for social housing even more urgent. According to the Government's target, in the period of 2025 - 2030, Da Nang needs to complete nearly 29,000 social housing apartments, and develop 69 more projects on 54 land plots.

After the administrative boundary merger, the demand for social housing in Da Nang increased.

Since the beginning of 2025, the city has launched nearly 1,000 apartments from projects in Bau Tram Lakeside, An Trung 2 and Hoa Khanh Industrial Park... One of the newly licensed large projects is Ecohome Hoa Hiep Social Housing in Lien Chieu Ward and Hai Van Ward, including 1,476 apartments on a land area of ​​over 4.27 hectares. The project has 3 housing blocks, 1 kindergarten and full technical infrastructure, expected to be completed in August 2029. Previously, the People's Committee of Da Nang City also approved the investment policy for a social housing project in Hoa Minh Apartment Complex with a total capital of over 1,317 billion VND, a scale of 933 apartments.

In addition, the Management Board of Quang Nam Economic Zones and Industrial Parks (under the People's Committee of Da Nang City) also approved the investment policy of the An Phu Apartment Complex Social Housing Project in Quang Phu Ward, including 700 apartments with a total capital of nearly 588 billion VND. These projects have been creating a significant supply for the market, helping people have more suitable choices.

In addition to increasing supply, the policy of supporting people to access social housing is also of special interest to the Central Government and the city. The People's Committee of Da Nang City has issued Decision No. 29/2025/QD-UBND, according to which people who already have a house but live 30km or more from their workplace can still be considered to buy social housing if their existing house is not convenient for living and work...

To meet people's needs, Da Nang has accelerated the implementation of social housing projects.

Loosen income ceiling to support people

An important highlight is that the Government has issued Decree 261/2025/ND-CP, raising the income ceiling when considering buying social housing to match the current income level in large cities: maximum 20 million VND/month for individuals, 40 million VND/month for couples. This policy significantly expands the beneficiaries, especially the group of workers, young workers and families with sustainable housing needs...

According to Mr. Nguyen Ha Nam, Director of the Department of Construction of Da Nang City: "The city will continue to remove procedural obstacles, ensuring that projects are implemented on schedule, targeted to the right subjects and with sustainable effectiveness. The adjustment of policies this time clearly demonstrates the attention of the Party and the State, aiming to help workers feel secure in settling down, stabilizing their lives and contributing long-term to the city."

Along with the home purchase policy, preferential credit continues to play a key role in helping people have enough financial capacity to own social housing. The Social Policy Bank, Da Nang branch, is accelerating the implementation of the social housing loan program with a maximum loan of 80% of the contract value, preferential interest rates and a loan term of up to 25 years. Since the beginning of the year, more than 1,200 households have accessed this source of capital.

Preferential credit has been expanding home ownership opportunities for workers.

The local banking sector has also coordinated with the Department of Construction to announce projects eligible for loans such as: An Trung 2, Dai Dia Bao, Bau Tram Lakeside and Hoa Khanh Industrial Park Apartments. Notably, at the B4-2 Bau Tram Lakeside project, VietinBank Bac Da Nang has disbursed 270 billion VND to the investor and 22 billion VND to 58 individual home buyers...

At the same time, the State Bank of Vietnam, Region 9 branch, has also requested credit institutions to urgently implement the loan policy for young people under 35 years old to buy social housing according to Official Dispatch 4290/NHNN-TD, and at the same time increase communication to each ward and commune so that people can fully grasp the information.

Although many positive signals have been recorded, the development of social housing in Da Nang as well as in other localities across the country still faces some difficulties. Currently, the supply has not yet met the huge demand of the market; some projects are slow in site clearance or have not completed investment procedures. Housing prices are still high compared to the financial capacity of many low-income groups; many workers in industrial zones have the need to rent instead of buying houses...

Making the list of projects eligible for loans transparent is also an important solution to make it easier for people to access.

To speed up the progress, the banking sector has asked investors to cooperate with the authorities in speeding up the issuance of home ownership certificates and assisting people in completing loan applications. Making the list of projects eligible for loans transparent is also an important solution for people to easily access bank credit.

From a long-term perspective, many experts believe that it is necessary to consider sustainable financial solutions to develop social housing instead of just relying on the budget or bank credit. One of the proposals that is receiving attention is the establishment of a social housing development fund. The fund will be formed from 2% of land use fees of social housing projects paid by enterprises. The fund will support investors, compensate for site clearance, invest in technical infrastructure and directly support eligible subjects to buy social housing... In addition to this fund, mobilizing capital from local development investment funds, foreign capital or forming investment trust funds is also considered a reasonable direction to ensure sustainable resources for social housing development in the near future.

Source: https://thoibaonganhang.vn/tin-dung-ngan-hang-luc-day-cho-cac-du-an-nha-o-xa-hoi-173508.html