HoREA pushes affordable housing reforms in Ho Chi Minh City draft law

The Ho Chi Minh City Real Estate Association (HoREA) submitted comments on the draft Special Urban Law, urging the inclusion of specific mechanisms to expand affordable housing for middle‑ and low‑income residents. Key proposals include tax, credit and investment incentives for commercial‑price housing, granting the city authority to set maximum sale and rent prices, and allowing apartments as small as 15 m² to meet the needs of single occupants and small households.

HoREA also called for a dedicated policy framework for social rental housing, recommending long‑term low‑interest credit (3‑5 % for 15‑20 years), a fund sourced from 20 % of land‑sale revenue in commercial projects, higher loan ceilings, extended interest‑subsidy periods, reduced land‑use fees, and flexible lease‑to‑own models. The association seeks greater powers for the city council and executive to develop social, public‑service and worker housing, and to prioritize officials and armed forces living more than 20 km from work for direct purchase or lease‑purchase without lottery.