A social housing area for workers at in the northern province of Hà Nam.—VNA/VNS Photo Tuấn Anh

HÀ NỘI — Việt Nam now has 645 social housing projects underway across the country, totalling 581,218 apartments, built under the 'Investment in the construction of at least one million social housing units for low-income groups and industrial workers in the 2021-30 period' project.

Deputy Minister of Construction Nguyễn Văn Sinh revealed that there were 96 projects, comprising 57,652 apartments, which had been completed, 135 projects, amounting to 115,630 apartments, had broken ground, and 414 projects, with 407,936 apartments, had received investment approval during the period.

In 2024 alone, 28 projects, with 20,284 apartments, were completed, a 46 per cent increase compared to 2023.

Additionally, 23 projects with 25,399 apartments were granted permits, and construction commenced, while 113 projects, which equated to 142,450 apartments, were approved for investment.

Sinh also said that as of January 2025, many provinces and cities nationwide had planned and designated land for social housing development.

Specifically, over 1,309 land plots, covering a total of 9,756 ha, had been earmarked for social housing. In particular, HCM City, Hà Nội, Đồng Nai, Long An and Hải Phòng had allocated large land reserves for the purpose.

In relation to the VNĐ120 trillion (US$4.75 billion) credit programme aimed at subsidising loans for social housing, worker housing and the redevelopment of old apartment buildings, Sinh said that banks had committed to lending over VNĐ4 trillion ($158.3 million).

The total loan disbursement stands at VNĐ2.36 trillion ($93.3 million), including approximately VNĐ2.16 trillion ($85.4 million) had been allocated to investors across 17 projects.

Despite the achievements, Sinh acknowledged that the provision of social housing for eligible groups had not yet met expectations.

“The challenges stem from local governments and businesses facing numerous legal and regulatory hurdles in implementation,” he said.

Furthermore, there remained a reluctance, with many waiting for new legal frameworks such as the revised Land Law, Housing Law, and Law on Real Estate Business, which were expected to provide more flexibility before proceeding with projects.

The disbursement of the preferential credit fund of VNĐ120 trillion ($4.75 billion) had also been slower than anticipated, failing to meet the actual demand, he said.

Given the challenges, Sinh emphasised that achieving the Government’s goal of expanding social housing required a high level of unified commitment from ministries, agencies, local authorities and enterprises.

In early 2025, the Ministry of Construction submitted a report to the Prime Minister, proposing the organisation of a conference to accelerate the development of social housing and ensure the healthy, sustainable growth of the real estate market.

The move highlighted the Government’s strong resolve to address the growing demand for housing.

This year, the ministry plans to continue urging local areas to allocate more land for social housing projects, streamline administrative procedures and accelerate the implementation of social housing schemes.

The goal is to complete 100,000 apartments this year, as directed by the Government and the Prime Minister.— VNS