NA approves pilot policies to boost social housing development
The resolution on piloting a number of special mechanisms and policies aimed at accelerating the development of social housing is set to take effect on June 1, 2025.
Hanoi (VNA) – The National Assembly on May 29 passed a resolution on piloting a number of special mechanisms and policies aimed at accelerating the development of social housing, with the majority of lawmakers voting in favour.
The resolution outlines several pilot measures to be applied nationwide, including the creation of a National Housing Fund. It also permits the simultaneous investment approval and appointment of project investors without a bidding process for projects building social housing and housing for the armed forces that do not rely on public investment.
It also allows the application of special mechanisms regarding the planning, appraisal, approval, and adjustment of detailed plans for social housing projects, as well as procedures related to investment, construction, and the determination of sale and rent-to-own prices for social housing.
A key highlight of the resolution is the clarification of housing eligibility conditions for those entitled to social housing support. Specifically, individuals working far from their place of residence will be eligible to buy or rent social housing if they do not currently own or rent such housing, or if their existing home is located far from their workplace.
Earlier, Minister of Construction Tran Hong Minh presented a report on the amendments and feedback concerning the draft resolution. Regarding the National Housing Fund, he noted that the government had revised the proposal to designate the fund as a state financial institution operating independently of the state budget, with legal status and a non-profit mandate.
The fund will prioritise the development of rental housing to make efficient use of land, allow rotational housing use, and meet the long-term needs of individuals who are unable to afford home purchases.
Furthermore, the government proposed expanding social housing support to include individuals impacted by administrative restructuring and organisational changes.
According to the resolution, it will take effect on June 1, except for specific provisions requiring detailed government regulations, which will become effective on July 1./.
