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During the period 2026 - 2030, Ho Chi Minh City aims to develop an additional 181,257 social housing units, of which about 50,000 units are for rent. The city also proposed many preferential mechanisms on credit, land and investment procedures to promote the development of this housing segment. Download Vice Chairman of Ho Chi Minh City Peoples Committee Nguyen Cong Vinh said that the City will prioritize the development of about 50,000 social housing units for rent in the period 2026 - 2030. On the afternoon of June 9, the Ho Chi Minh City Department of Construction coordinated with the Ho Chi Minh City Construction Science and Technology Association to organize a conference to deploy and promote investment in developing rental housing in the city. Attending the conference was Mr. Nguyen Van Duoc, Member. Party Central Committee, Deputy Secretary of the City Party Committee, Chairman of Ho Chi Minh City Peoples Committee; Deputy Minister of Construction Nguyen Van Sinh and representatives of departments, branches, experts and real estate businesses. Increasing the supply of social housing for rent. Speaking at the conference, Vice Chairman of Ho Chi Minh City Peoples Committee Nguyen Cong Vinh said that the demand for rental housing is increasing in the context that Ho Chi Minh City is an urban area of more than 14 million people, with a large concentration of experts, workers, students and migrant workers. Meanwhile, a large number of people do not have the conditions to own a house and need stable living spaces with reasonable costs and synchronous infrastructure. According to Mr. Nguyen Cong Vinh, Ho Chi Minh City is drastically implementing solutions to develop social housing and rental housing according to the direction of the Central Government and the Government. The city will prioritize the development of about 50,000 social housing units for rent in the period 2026 - 2030, and at the same time research to convert part of the resettlement housing fund and surplus public assets into rental housing to effectively exploit existing resources. Reporting at the conference, Mr. Khai Quoc Binh, Deputy Director of Ho Chi Minh City Department of Construction, said that in the period 2026 - 2030, the city is assigned to target to develop an additional 181,257 social housing units; Of which, in the period 2026 - 2027, 66,657 units are expected to be completed, and in the period 2028 - 2030, 114,600 units are expected to be completed. According to planning, the total land area for social housing development in Ho Chi Minh City by 2040 is about 1,740 hectares, not including land funds in dynamic areas in Ba Ria - Vung Tau and Binh Duong areas. Download Mr. Vo Khac Thai, Vice Chairman of the Ho Chi Minh City Labor Confederation, proposed a preferential mechanism to promote the development of social housing for rent - Photo: VGP/LAProposed a preferential mechanism to promote the development of social housing for rent. Mr. Vo Khac Thai, Vice Chairman of the Ho Chi Minh City Labor Confederation, said that the actual survey showed that the majority of workers and employees are living in small-sized boarding houses with limited living conditions. Many places do not fully meet the requirements of environmental sanitation, fire prevention, security and order; lack of schools, kindergartens, medical facilities, community living spaces and cultural institutions to serve the lives of workers. To develop housing for workers and laborers, the Ho Chi Minh City Labor Federation proposed synchronous development of industrial parks associated with residential areas and worker housing; perfect financial and credit mechanisms; increase investment in technical and social infrastructure; At the same time, effectively exploit the land fund and state-owned housing fund. For social housing for rent and worker accommodation, the Ho Chi Minh City Department of Construction proposes to issue a separate preferential credit package suitable to the characteristics of projects with long capital recovery periods. Accordingly, lending interest rates are about 3% - 4%/year or higher than deposit interest rates of 1.5% - 2%; Loan term is from 15 - 20 years, grace period is 3 years. The city also recommends supporting from 70% - 80% of commercial loan interest rates during the investment and exploitation phase of the project, especially in the first 10 years of putting the project into operation. Download 49-year rental housing model at Le Thanh Tan Tao apartment building (Tan Tao ward, Ho Chi Minh City) Raising the preferential loan level to 300 billion VND per project To promote the development of social housing for rent, the Ho Chi Minh City Department of Construction said the city will deploy rental housing projects with public investment capital; At the same time, report to the Standing Committee of the City Party Committee to consider including these projects in the list of urgent projects to shorten procedures and start construction soon. The City also assigned the Housing Development Fund to focus on creating a rental housing fund through construction investment or acquisition of suitable projects. In addition, Ho Chi Minh City plans to add rental housing to the list of supported projects according to Resolution 09 of the Ho Chi Minh City Peoples Council; increase the maximum loan capital with interest rate support from VND 200 billion to VND 300 billion per project; At the same time, 100% of the investment in technical infrastructure within the project scope is supported, but not exceeding 10 billion VND/project. The city also researches a policy to support rent reduction for those eligible to rent social housing invested by enterprises. Along with that, Ho Chi Minh City is perfecting specific mechanisms and policies on the development of social housing and rental housing to include in the Draft Law on Special Urban Areas. Download Deputy Minister of Construction Nguyen Van Sinh said that rental housing development i
