“If the attention remains solely on social housing as it is now, it will lead to stagnation because those who can afford houses cannot buy them, while those eligible to buy lack the ability to pay,” Nghia said. “The disbursement of the $5 billion package is very slow, plus, the social housing loan package under government Decree No.100/2015/ND-CP is almost a failure.”

Having the same outlook on the $5 billion credit package, Phung Thi Binh, deputy general director of Agribank, believes that that package should be applied to those with moderate incomes.

“Agribank has provided loans to developers for the implementation of six affordable apartment projects in Binh Duong, and these projects have shown significant output,” said Binh.

The State Bank of Vietnam (SBV) only restricts real estate credit for speculative segments, or projects that inflate prices, making the products difficult to consume, and making it difficult to circulate capital and recover debts.

However, for projects suitable for the average budget, the central bank still encourages them, according to Dao Minh Tu, Deputy Governor of the SBV.

Tu also said that such projects in the market were not numerous, mostly covering two segments: high-end apartments and social housing.