Hanoi and Ho Chi Minh City are "slow" in the social housing race.

Although considered two of the key localities, Hanoi and Ho Chi Minh City are still cities with low numbers of social housing registrations formed in 2024.

The localities were "named"

Up to now, NHS Trung Van is the most expensive social housing project in Hanoi, when offering apartments at a price of nearly 20 million VND/m2. However, the above figure is not a problem for the people of the capital. The proof is that the number of people registering to buy has exceeded the maximum, the investor was forced to organize a lottery with a competition ratio of 1/9 to "filter" out the applications.

The odds of winning a house at the NHS Trung Van project are up to 1/9. Photo: Thanh Vu

The above story shows that the “thirst” for social housing, especially projects in the inner city, is becoming a big problem for Hanoi. Indeed, at the conference to implement the project “Investing in building at least 1 million social housing units for low-income people and industrial park workers in the period 2021 - 2030”, Hanoi was assessed by the Ministry of Construction as one of the key localities, although there is a huge demand for social housing, but investment is still limited compared to the project's target by 2025.

Specifically, the Ministry of Construction said that Hanoi only has 3 projects, equivalent to 1,700 units, meeting only 9% of the target. However, the capital is not the only place that is "slow" in the social housing race. The Ministry's report said that Ho Chi Minh City also has only 7 projects, equivalent to 4,996 units, meeting 19%; Da Nang has 5 projects, equivalent to 2,750 units, meeting 43%. Some localities even have no social housing projects starting construction from 2021 to present, such as Vinh Phuc, Ninh Binh, Nam Dinh, Long An, Quang Ngai, etc.

In addition, Hanoi and Ho Chi Minh City were also named by the Ministry of Construction among the localities with low numbers of social housing registrations formed in 2024, despite high demand. Specifically, Hanoi and Ho Chi Minh City recorded only 1,181 units and 3,765 units, respectively. Some other areas were also named such as Da Nang (1,880 units), Can Tho (1,535 units)...

However, Hanoi and Ho Chi Minh City are still considered by the Ministry of Construction to be localities that pay attention to planning land funds for social housing development, as these two cities have arranged to plan 608 hectares and 412 hectares respectively. Other localities such as Dong Nai (1,063 hectares), Long An (577 hectares), Hai Phong (471 hectares) are also "commended" in the report.

The road to realizing 1 million social housing units

According to Minister of Construction Nguyen Thanh Nghi, the implementation of the project "Investing in the construction of at least 1 million social housing units" is still facing many difficulties and problems, which need to be focused on and resolutely resolved in the coming time.

Minister of Construction Nguyen Thanh Nghi speaks at the conference. Photo: Ministry of Construction

The disbursement of the 120,000 billion VND preferential credit package is still slow compared to the wishes and practical needs of businesses.
Minister of Construction Nguyen Thanh Nghi.

“There are still many localities whose implementation results are slower than the plan registered in the project. Among them, there are some localities that have not yet started any new social housing projects. In addition, the disbursement of the preferential credit package of 120,000 billion VND is still slow compared to the wishes and practical needs of businesses,” said Mr. Nguyen Thanh Nghi.

Not only that, the Minister of Construction also frankly stated that businesses investing in social housing and housing for workers still face many difficulties in accessing land, construction investment procedures, credit, preferential policies, etc.

However, it cannot be denied that the agencies are trying to accelerate to realize the figure of 1 million social housing units. In the period from 2021 to now, 499 social housing projects have been implemented nationwide with a scale of more than 411,000 apartments. Of which, 71 projects have been completed with a scale of nearly 40,0000 units; 127 projects have started construction with a scale of nearly 108,000 units; 301 projects have been approved for investment with a scale of 265,500 units.

According to the project, the total number of completed apartments in localities will reach about 1,062,200 by 2030. Of which, about 428,000 apartments will be completed in the 2021-2025 period. The Ministry of Construction expects that if the projects that have been licensed and approved for investment are completed on time, the whole country will basically complete the project's goals by 2025.

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