Ho Chi Minh City is currently gathering feedback on a draft policy adjusting income criteria for prospective social housing buyers. Under the proposal, the maximum monthly earnings cap for single individuals would increase from 25 million VND to 27.5 million VND.

Widening Policy Reach

Beyond broadening eligibility, the said proposal reflects a growing shift towards localized criteria—moving away from a one-size-fits-all national benchmark in favour of socio-economic context.

This adjustment is anchored in Decree No. 136/2026/ND-CP, which permits localities with higher-than-average per capita incomes to apply an adjusted coefficient. Municipal figures show Ho Chi Minh City’s monthly income per capita reached approximately VND 8.06 million in 2025—roughly 36% above the national average. Based on this, city authorities have opted for an adjustment coefficient of 1.1.

If approved, single applicants earning up to VND 27.5 million per month will qualify to apply for social housing, whilst the household cap for married couples will rise from VND 50 million to VND 55 million per month. The draft also introduces a priority scheme for larger households by raising thresholds further and considering allocations of larger units, subject to availability.

For years, home price inflation in Ho Chi Minh City has outpaced wage growth by a significant margin. This widening gap between purchasing power and market values has left many stably employed residents priced out of commercial real estate.

Consequently, recalibrating the income limit is viewed as a pragmatic response to market realities. Rather than sticking to outdated criteria, the policy gradually adjusts to match actual purchasing power in a city with the country's highest real estate prices and living expenses.

Mr Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), noted that revising the income threshold is essential to allow working families with genuine housing needs—who remain priced out of the commercial housing—to benefit from the social housing policy.

However, he cautioned that expanding eligibility will only deliver meaningful results if matched by an increase in housing stock; without more developments coming online, actual access will remain strictly constrained.

The Supply Dilemma

Under the 2026–2030 target, Ho Chi Minh City has been tasked with delivering 181,257 social housing units—the highest quota nationwide. To date, the city has launched or prepared just 56 projects comprising roughly 44,575 units. Of these, a mere 12 projects have broken ground, representing just over 10,700 homes. This massive shortfall underscores an urgent need to streamline pre-construction processes and bring new stock to market.

From an industry perspective, Mr Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors (VACC), has repeatedly highlighted major systemic bottlenecks related to investment approvals, land allocation, financial duties, and incentives for project developers. Until these structural barriers are addressed in tandem, developers will struggle to accelerate delivery even as demand from the workforce surges.

Property experts stress that as Ho Chi Minh City expands its economic footprint and attracts a growing workforce, raising the income ceiling will bring policy closer to those in genuine need. Ultimately, however, the success of the initiative will not be measured merely by how many people qualify on paper but by the city's ability to unlock actual supply through regulatory reform, dedicated land banks, and a more compelling investment environment.