Prime Minister Pham Minh Chinh recently signed a decision assigning specific targets for social housing completion from 2025 to 2030.

Under this plan, localities across Vietnam must build a total of 995,445 social housing units. The yearly targets gradually increase, starting with 100,275 units in 2025 and reaching 271,161 units by 2030.

Among the localities, Ho Chi Minh City has the highest target, followed by Hanoi, Hai Phong, Da Nang, and Can Tho. In 2024 alone, Hanoi must complete 4,670 units, while Ho Chi Minh City is expected to deliver 2,874 units.

By 2030, these two cities must finish over 14,200 and 19,200 units, respectively, marking the highest requirements in the five-year period.

According to the Ministry of Construction, as of late 2024, 645 social housing projects have been launched across Vietnam, totaling over 581,200 units.

Among them, 96 projects have been completed, providing more than 57,600 homes, while 135 projects are under construction, adding up to 115,600 units.

An additional 414 projects, accounting for nearly 408,000 units, have received investment approval.

In early 2023, the Prime Minister issued Decision 338, approving the "1 Million Social Housing Units" project, designed to provide affordable homes for low-income individuals and industrial workers from 2021 to 2030.

The initiative aims to ensure housing prices align with the financial capabilities of middle- and low-income urban families, as well as laborers in industrial parks and export-processing zones.

The government is encouraging private sector involvement in social housing development to create a balance between market-driven supply and state-supported initiatives.

At the same time, policies are being introduced to support low-income earners and disadvantaged groups in securing stable housing.

The ultimate goal is to ensure that all Vietnamese citizens have access to affordable homes, contributing to economic stability, social welfare, and the modernization of both urban and rural areas.

Hong Khanh