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The policy adjustment helps expand the pool of borrowers and contributes to developing the social housing segment. An office worker in Ho Chi Minh City, with income near 20 million VND per month, previously Ms. Dieu Lan did not qualify to buy social housing. When the income cap was raised to 25 million VND per month, she hopes to reach her first home. "I find information about social housing support products very helpful for young people like me who need stable housing in Ho Chi Minh City," Dieu Lan said. Ms. Cam Tu (Ho Chi Minh City) said: "Raising the income cap to 25 million per month is a very encouraging and positive signal for me. Because although I want to find a home in the city, prices are really high, around 4-5 billion for an apartment; at that level it is very difficult." Under Decree 136 on social housing, the income condition is raised to a maximum of 25 million VND per month for individuals. For married couples, combined monthly income up to 50 million VND, which is 10 million higher than the previous regulation. Earlier, Ho Chi Minh City also applied an income adjustment factor of 1.25 to align with the real income level. This adjustment basically aligns with the new regulation in Decree 136. Ms. Cao Thi Than Huong — Senior Manager, Research Department, Savills Ho Chi Minh City, said: "From statistics, living costs and apartment prices in Ho Chi Minh City are high; therefore this adjustment is close to and appropriate for the needs and realities of residents." A representative of the State Bank of Vietnam, Regional Branch 2, said that raising the income threshold to match reality, while ensuring living costs and life stability, would not only expand the pool of eligible buyers and renters of social housing but also facilitate access to credit. Through that, it contributes to promoting and expanding social housing credit growth effectively. Mr. Nguyen Duc Len — Deputy Director, State Bank of Vietnam, Regional Branch 2, said: "Currently the policy interest rates and loan terms under Decree 261, i.e., 5.4% per year and long tenures from 20-25 years, are very favorable conditions for eligible policy beneficiaries to borrow to buy or rent-to-own social housing." Survey data from the Ho Chi Minh City Real Estate Association shows most urban residents earn 21-35 million per month. Previously, this group did not qualify for social housing but found it difficult to access private housing. Therefore, raising the income condition to 25 million per month is an important relaxation, helping people to file applications and access social housing.
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