With an income of 20 million VND/month, can I buy a house in Ho Chi Minh City?

(NLDO) - Young people can save up about 20% of the house value, the bank is willing to lend the rest.

Is it difficult for young people to buy a house?

On September 12, at the workshop "With an income of 20 million VND, can young people in Ho Chi Minh City settle down?" with the topic "Expanded Ho Chi Minh City - Housing opportunities for young people", organized by Thanh Tra Newspaper, Mr. Chu Van Hai, Head of the Department of Social Housing Management and Development, Department of Housing and Real Estate Market Management - Ministry of Construction , pointed out the common situation in urban areas in Vietnam is that the gap between income and housing prices is a challenge.

He cited information from the Institute of Economics of the Ministry of Construction in August 2025, apartments cost over 50 million VND/m2, accounting for 33% of the total housing supply in Ho Chi Minh City (old). With the income of young people, to buy an average apartment of 70m2, they have to spend an amount equivalent to 2.5 billion to nearly 4 billion VND.

Therefore, the Ministry of Construction is determined to complete the 1 million apartment project for young people to access housing; and have policies and mechanisms to develop commercial housing at average prices.

Ms. Tran Thi Ngoc Lien, Deputy Director of State Bank Region 2, also admitted that the goal of settling down in the city is a big challenge for many young people who do not have much savings.

Faced with this situation, the State Bank has proactively implemented many credit management policies for the real estate, housing, and social housing sectors.

Experts discussed at the workshop, in which many opinions said that the opportunity for young people to own a house at this time is not too difficult.

A typical example is the credit package for loans to buy social housing, workers' housing, and projects to renovate and rebuild old apartments, with an initial scale of VND120,000 billion, now increased to VND145,000 billion. The program stipulates a maximum preferential interest rate application period of 15 years from the date of disbursement for young people under 35 years old who need to borrow capital to buy social housing.

"Since the program was launched, the interest rate has decreased by 2.3 percentage points compared to the initial announcement. Currently, the lending interest rate for homebuyers is 5.9%/year, and for investors is 6.4%/year" - Ms. Lien informed.

Some commercial banks have also proactively developed loan packages for young people under 35 years old with loan terms of 35 - 50 years depending on the bank. Preferential interest rates are commonly around 3.99 - 9.99%/year depending on the loan progress and depending on the fixed interest rate period...

Home loan interest rates in Ho Chi Minh City are decreasing

According to economic expert, Dr. Vu Dinh Anh, the core of the dream of settling down is still the ability to pay. Young people can save about 20% of the house value, the rest the bank is willing to lend. That is both an opportunity and a challenge…

Young people who take out a home loan can use smart financial leverage such as finding a bank with a long principal grace period, having a reserve fund by borrowing more than the actual amount needed to repay...

From the bank's perspective, Mr. Huynh Trung Minh, Director of HDBank Insurance and Development, said that currently, if the income is 20 million/month, young people can completely buy a house because of smart financial leverage.

"If I need 3 billion VND to buy a house, I will borrow 3.5 billion VND. Of that, 500 million VND will be used to prepare for illness, or to pay off debt within 6 months if my income fluctuates.

The remaining amount is a safe amount, but few people realize that. The starting point may not be high, so young people need solutions to improve. If you know how to use financial leverage wisely, you will never have to work hard to pay off debt, and will not limit your desire to rise up" - Mr. Huynh Trung Minh said.

Source: https://nld.com.vn/thu-nhap-20-trieu-dong-thang-va-cach-de-nguoi-tre-mua-duoc-nha-o-tp-hcm-196250912155655133.htm