Vietnam Ministry of Construction clarifies social housing regulations

The Ministry of Construction has provided clarifications regarding the implementation of the 2023 Housing Law, specifically concerning social housing policies in Vietnam.

Regarding income eligibility, the Ministry clarified that for single applicants, the average monthly net income must not exceed 25 million VND. This must be certified by the employer based on actual received wages. In cases where foreign-invested enterprises only certify gross salary due to varying deductions, applicants may need to provide supplementary bank statements or payroll records to prove their net income.

On the subject of resale, social housing units can be sold at market prices after a five-year period, provided the buyer has been issued a certificate of ownership and the full purchase price has been paid.

Additionally, the Ministry addressed eligibility for repeat applicants. Individuals who previously entered into a lease-purchase agreement for social housing but have since returned the property to the developer and met all other legal requirements may be eligible to register for social housing again, provided they do not currently own property in the same province or city where the new project is located.