The target of completing 1 million social housing units could be achieved by 2028.

Prime Minister Pham Minh Chinh chaired the 4th session.

Outstanding real estate loans amount to approximately 4.1 million billion VND.

According to a report by the Ministry of Construction , the legal policies enacted recently have had a strong impact on the real estate market in general and the housing market in particular. Many innovative policies are considered and expected to create space for the development of the real estate market, while also addressing current difficulties in the market.

Regarding the supply of real estate, there are 3,297 commercial housing, social housing, and land plot projects nationwide, with a scale of 5.9 million units and a total investment of 7.42 trillion VND.

From 2022 to the present, the real estate market has gradually recovered and developed again, with a corresponding increase in transactions across various types and segments of real estate. The number of transactions has reached between 537,000 and 785,000 transactions per year.

Regarding real estate prices, the report indicates that in recent years, the prices of apartments, townhouses, villas, and land plots have increased significantly; the average increase is about 10% - 15% per year, with some periods reaching up to 30%; the increase in housing and land prices has far exceeded the increase in average income, making it more difficult for people to access housing and land.

Prices of other types of real estate, such as tourism , resort, commercial, office, and industrial properties, have all increased over the years; the average increase is about 5% - 10% per year, which is much lower than the increase in housing and land prices.

Prime Minister Pham Minh Chinh chaired the 4th meeting of the Central Steering Committee on Housing Policy and Real Estate Market.

According to reports from 22 out of 34 localities, the inventory of real estate in projects in Q3 2025 is estimated at approximately 26,717 units/plots (including apartments, detached houses, and land plots). Of these, apartments and detached houses are trending upwards, reaching 137% compared to Q2 2025, while land plots are trending downwards by about 68.8% compared to 2024.

As of August 31, 2025, outstanding real estate credit amounted to approximately 4.1 million billion VND. Of this, outstanding credit for real estate business activities reached 1.8 million billion VND.

Regarding the task of implementing the 1 million social housing project, to date, the whole country has 698 social housing projects under implementation with a scale of 657,441 units. In 2025 alone, the country completed 102,388 out of 100,275 units (reaching 102%).

At the meeting, opinions were expressed that the real estate market is recovering, with the absorption rate of new projects reaching approximately 68-70%. Real estate prices were assessed to have stabilized and remained flat, but showed no signs of decreasing.

Notably, the Governor of the State Bank of Vietnam (SBV), Nguyen Thi Hong, stated that in recent years, real estate has contributed approximately 15% to GDP growth, both directly (11%) and indirectly through other sectors. By 2025, the real estate market is expected to develop more strongly, thus contributing even more to growth. In 2025, the SBV has flexibly managed credit growth targets to meet growth objectives. Real estate credit growth has been higher than overall credit growth. Real estate credit currently accounts for over 24% of total outstanding loans.

According to the Governor, the risk to the real estate market is not credit risk, because borrowers must ensure their ability to repay before credit institutions will lend. The State Bank of Vietnam has directed credit institutions to control and avoid liquidity risks, and to avoid concentrating on large projects and large clients to prevent problems. "The State Bank of Vietnam closely monitors indicators to ensure safety, in which the use of short-term capital/medium- and long-term loans is currently controlled below 30%," the Governor said.

The Prime Minister demands the public disclosure of real estate data.

Speaking at the session, Prime Minister Pham Minh Chinh assessed that in 2025, the whole country had resolutely implemented the elimination of temporary and dilapidated houses, completing the task by the 80th anniversary of National Day, more than 5 years ahead of schedule.

Social housing construction has seen many breakthroughs during this term. In particular, the target set for 2025 of completing 100,000 social housing units has been met and exceeded. With this progress, the Prime Minister believes that by 2028 at the latest, 1 million social housing units will be completed (the target set for 2030). The Prime Minister requested that the achievements be built upon and that more decisive action be taken in developing social housing. Local authorities should proactively allocate land and raw material sources, implement administrative procedures through green channels to develop social housing; boldly entrust reputable enterprises with the implementation of projects; and promptly compile and propose solutions for any obstacles. The development of social housing will contribute to reducing real estate prices, boosting economic growth, and stabilizing housing for the people.

Regarding the real estate and commercial housing market, the Prime Minister assessed that progress has been made, helping to revive the real estate market. This is the result of the efforts of the entire political system and relevant agencies, contributing to growth and improving the material and spiritual lives of the people.

Looking ahead, the Prime Minister requested the Ministry of Construction to take the lead in guiding localities to build and publicize a database, to be completed in the first quarter of 2026 (including a database on the real estate market, commercial housing, social housing, temporary housing, and dilapidated housing nationwide). Ministries, sectors, and localities should continue to review and remove institutional obstacles, including policies for buying, renting, and lease-purchasing social housing that are flexible and easy for people and businesses.

The Prime Minister directed the continued development of a healthy, stable, and sustainable real estate market; and the acceleration of industrial real estate development. Along with this, it is necessary to diversify sources of capital for real estate, including credit, bond issuance, FDI, public-private partnerships, etc., to avoid over-reliance on credit and to ensure that credit is directed appropriately.

The Prime Minister also requested control over real estate prices, including control from input costs; and the establishment of state-run real estate and land use rights transaction centers…

LAM NGUYEN

Source: https://www.sggp.org.vn/muc-tieu-1-trieu-can-nha-o-xa-hoi-co-the-hoan-thanh-vao-nam-2028-post829182.html