At a meeting on October 24, Prime Minister Pham Minh Chinh announced that the government would accelerate the approval of a new social housing resolution, aimed at expanding eligibility, speeding up construction, with ambitions to reach 1 million social housing units by 2030, including 100,000 units by the end of 2025.
This announcement marks a significant shift from Resolution No. 33/NQ-CP, which had set similar targets but faced delays in implementation.
Vietnam’s average housing price eclipses its average income
Owning a home in Vietnam has become increasingly out of reach for many.
According to Numbeo, the average housing price in Vietnam is 23.7 times higher than the average income, 1.6 times the global average. In Hanoi, one square meter of land can cost around VND 80 million, while the average monthly income is only VND 6.86 million.
Against this backdrop, social housing is seen as an ideal solution to bridge the homeownership gap—especially for low and middle-income earners and young workers who have been priced out of the market.
But will the new updates be enough to make the dream of owning a home a reality?
Eligibility for social housing expanded in October 2025
Starting from October 2025, eligibility for social housing has been expanded.
In addition to long-recognised groups - such as low-income workers, people with meritorious service, and households affected by land clearance - the new policy now includes low-income urban residents, civil servants, public employees, and unmarried or single workers.
The income cap has also been raised: from VND 15 million to VND 20 million per month for individuals (or VND 40 million combined for married couples). It has better reflected the current urban income and cost-of-living levels, experts say.
Answering Thanh Nien, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, said that the policy now includes people with income between VND 15 million - VND 20 million, who are unable to afford commercial apartments but ineligible for social housing. It has also created new incentives for businesses to invest in this housing segment.
Applicants are no longer required to submit a labor contract to verify their income; instead, they can obtain income certification directly from the local police. This move has opened the door for freelancers, informal workers, and those without formal labor contracts to obtain social housing.
With demand far exceeds supply, social housing turned into a scarce opportunity
In Vietnam, many social housing projects are built in remote, suburban areas, far away from main transportation routes and other key amenities. Despite the massive demand, the reality of such inconveniences has pushed people away.
As a business motive, a policy allowing the commercialization of social housing after five years has been implemented. But the move has created a paradox: rather than low-income earners, wealthy investors are seeking to buy social housing — not to live in, but as a fiscal opportunity.
With demand far exceeding supply, social housing has turned into a scarce opportunity. For some projects, applicants line up as early as the night before just to submit their paperwork, according to local reports.
“Buying social housing will then feel like buying concert tickets: the seats rarely go to the audience who just want to be there, but to those who know how to trade the best ones for profit.” said lawyer Pham Thanh Tuan, Hanoi Bar Association, to Dan Tri.
“If social housing serves both as a welfare benefit and an investment channel, the poor will always be one step behind.”
To make social housing truly meaningful, the policy needs not only land and capital, but also transparency, fair access, and strict control against speculation. Otherwise, the dream of an affordable home may remain just a dream.