Urbanization sets further pressure on the building industry. The migration from rural areas to cities continues to grow and in Latin America, 90% of the population is estimated to live in cities by 2050. In Peru, more than a quarter of the total population lives in the capital Lima. Despite Peru’s unprecedented economic growth in the last few years, many people lack adequate housing. In order to solve the housing deficit and provide access to housing, the State and the private sector have to work together. Fondo Mivivenda (FMV) is an organization addressing this issue. FMV works as a second-tier bank and has reached great success with the programme Crédito MiVivienda, providing mortgage loans to low-incomers. FMV are today developing a financial bonus programme in order to promote green social housing. To create sustainable houses, cities and communities it is essential with a comprehensive approach. Recently the impact our buildings have on the environment is realized but often social sustainability is largely neglected while priority is given to economic and environmental sustainability in the context of planning and housing. With Fondo MiVivienda’s Green Bonus Programme as starting point, the research examines the importance of including social sustainability in green social housing.