On March 12, 2026, Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam (SBV) attended and co-chaired a discussion session at the Seminar titled “Social Housing: Accelerating Supply, Ensuring Fair Access”, which was co-organized by the Ministry of Construction and Tien Phong Newspaper.
Deputy Governor Nguyen Ngoc Canh speaks at the Seminar
Speaking at the event, Deputy Governor Nguyen Ngoc Canh noted that in recent years the SBV has actively coordinated with the Ministry of Construction and relevant agencies to improve policy mechanisms and address obstacles related to the development and construction of social housing. At the same time, the SBV has instructed credit institutions to channel credit toward the affordable housing segment and housing for low-income earners.
The banking sector has implemented several lending programs for social housing and housing for low-income groups, with total outstanding loans reaching about VND 41 trillion, including more than VND 25 trillion provided through the Vietnam Bank for Social Policies (VBSP) and over VND 16 trillion through commercial banks.
During the Seminar, participants discussed policy mechanisms to promote investment in social housing development, balance supply and demand, and address issues related to legal procedures, incentives for businesses and homebuyers, as well as credit and interest rate policies.
Regarding interest rates, Mr. Nguyen Xuan Bac, Deputy Director General of the Department of Credit for Economic Sectors, stated that the SBV is developing a stable, long-term interest rate mechanism for social housing buyers. Under the lending program stipulated in Decree No. 100, homebuyers can access loans with a maximum term of up to 25 years at an interest rate of around 5.4% per year. Under the credit program implemented by commercial banks, the lending interest rate for social housing buyers is about 2 percentage points lower than the average lending interest rate of state-owned commercial banks, while project developers benefit from an interest rate that is approximately 1.5 percentage points lower.
An overview of the Seminar
To accelerate the implementation of the target of developing one million social housing units, the SBV has been closely monitoring and urging commercial banks to actively implement relevant programs, particularly the social housing lending program under Resolution No. 33/NQ-CP. In addition, the SBV allows commercial banks not to include the program’s outstanding loans in their annual credit growth limits, thereby encouraging greater participation in lending. At the same time, the SBV maintains the key interest rates at an appropriate level to support lower lending interest rates for the program.
As of the end of January 2026, commercial banks had committed VND 20.5 trillion in loans under the program, an increase of more than 200% compared with the end of 2024, equivalent to 17% of the VND 120 trillion credit package.
In the coming period, various measures will be actively implemented to increase the supply of social housing, not only in terms of quantity but also by improving housing quality, strengthening transport connectivity, and ensuring synchronized infrastructure development to enhance the attractiveness of the social housing segment. As the supply of social housing improves, the program is expected to achieve even better results, contributing to accelerating the implementation of the project to build one million social housing units by 2030.