Efforts to develop a healthy and right-oriented real estate and social housing market

Prime Minister Pham Minh Chinh delivers a speech at the online conference of the 3rd meeting of the Central Steering Committee on housing policy and real estate market. (Photo: Tran Hai)

Also attending were ministries, branches, central agencies, associations, enterprises; and connecting points of provinces and centrally run cities.

In his opening remarks, Prime Minister Pham Minh Chinh emphasized that the viewpoint of our Party and State is to make progress, social justice, constantly improve people's lives, ensure citizens' right to housing; in which housing development is an important pillar of social security policy and promote socio- economic development with the viewpoint of not sacrificing progress, social justice, social security in exchange for mere economic growth. Therefore, housing policy must be considered a citizen's right.

The Prime Minister stated that we are in a period of acceleration, breakthrough, and completion of goals and targets for 2025 and the entire term, in which the real estate market is an important channel for capital mobilization and allocation, with great spillover effects to other economic sectors, promoting growth, contributing to the country's rapid and sustainable development.

Leaders of ministries, branches and delegates attending the meeting. (Photo: Tran Hai)

In recent times, the Party, the State, the National Assembly, and the Government have been gradually removing difficulties in terms of institutions, laws, capital sources, land funds, cutting administrative procedures for projects, improving the supply of social housing, especially for low-income people, workers, and laborers... We consider investment in social housing as a driving force for the country's socio-economic development. One of the key tasks of the 2025-2030 period and also a double lever is to both solve people's housing needs, ensure social security, and promote growth and create jobs...

Prime Minister Pham Minh Chinh chaired the online conference of the 3rd meeting of the Central Steering Committee. (Photo: Tran Hai)

Since the beginning of the term, the Government and the Prime Minister have issued 22 Resolutions, 16 Directives and many telegrams related to the real estate market and social housing, achieving positive results. Implementing the Project to develop 1 million social housing units by 2030, up to now, the whole country has recorded 696 social housing projects being implemented with a scale of 637 thousand units, of which 128,600 units have been completed.

Since the beginning of the year, over 123 thousand units have been invested in, and 62 thousand units have been completed. From now until the end of the year, we need to strive to reach the target of 100 thousand units.

However, the real estate market still faces many difficulties and shortcomings; housing prices, especially in large cities such as Hanoi, Ho Chi Minh City, Da Nang, etc., are still much higher than people's income; the progress of implementing some social housing projects is still slow, although the National Assembly has issued Resolution 201 and the Government has issued Decree 192 to remove difficulties.

Ministries, branches and localities attended the meeting. (Photo: Tran Hai)

The allocation of 20% of land fund for social housing development in commercial housing projects has not been seriously implemented; some localities have not really paid attention to reviewing the subjects of buying, renting, and leasing social housing, causing public outrage. Therefore, relevant ministries and branches, especially localities, must learn from experience and control this issue. Everything must be public and transparent, everyone must have equal access to social housing, and no negative things will happen.

The Ministry of Public Security directed the police force to get involved, grasp the situation, and strictly handle any violations or violations of the law that are discovered.

At this meeting, the Prime Minister requested the Ministry of Construction to report briefly and clearly, on the basis of which ministries, branches and localities should review and re-examine the implementation of assigned tasks, clearly state what has been done, what is still slow to be implemented, clarify responsibilities - especially for leaders - for what is still slow, unfinished, what is still difficult, stuck, and key solutions to remove them.

Regarding the progress of social housing projects: Request the Ministry of Construction to clearly report on the procedures and processes for investing in social housing construction. Why are they still slow up to this point? Is it due to land, planning or other issues? How have localities participated? Has a common, unified process, process and procedures for investment in construction been established nationwide from planning, site clearance, procedures, investment in construction...? Shorten the time to prepare for investment in social housing construction to 3-6 months instead of 2 years.

Leaders of the Ministry of Construction report at the meeting. (Photo: Tran Hai)

Regarding clean land allocation: In fact, localities have been very proactive in this matter, however, not many large enterprises have proactively proposed to use their clean land funds to invest in social housing projects. The Prime Minister noted that enterprises do not always put profits first because we must also be responsible to society, the people, the poor, "national love, compatriots' love". We need to find out the cause, where the problem is, where the Government needs to solve the difficulties, what policies are needed to mobilize and encourage enterprises to participate?

Regarding enhancing transparency, preventing negativity, hoarding, price inflation, speculation, and profiteering in the approval, purchase, sale, and rental of social housing. These issues need to be vigilant and eliminated. The Ministry of Construction has drafted a Prime Minister's Directive on this issue, and requested that delegates provide specific comments on the draft Directive in the spirit of closely following reality, "if there is a policy, there must be 10 measures" so that the policy can be put into practice.

Regarding credit policy towards social housing development, the State Bank reported the disbursement results of the 145 trillion VND credit package for social housing. What are the advantages and disadvantages, causes and solutions?

The Prime Minister requested delegates to promote a sense of responsibility, initiative, creativity, and determination in action, and in organizing implementation to "clearly state the six: clear people, clear work, clear responsibility, clear authority, clear time, clear results"; speak frankly, speak the truth, speak to the point, and speak accurately about the issues that need to be resolved. What is under the authority of the Government, the Government must resolve; what is under the authority of ministries and branches, the ministries and branches must resolve; what is under the authority of localities, the localities must resolve; what businesses need to do to develop social housing well.

Businesses do not always put profit above all else because we must also be responsible to society, the people, the poor, "national love, compatriotism".
Prime Minister Pham Minh Chinh

The Prime Minister noted that businesses do not always put profits first because we must also be responsible to society, the people, the poor, "national love, compatriots' sentiment". Along with that, we must develop a healthy and sustainable real estate market, contributing to macroeconomic stability and social security. A healthy society requires all activities to be healthy. For housing and real estate policies to be healthy, sustainable, and develop effectively, all relevant entities must contribute and be responsible, with the spirit of a creative State, pioneering enterprises, public and private cooperation, a strong country, and happy people.

* The Ministry of Construction said that, regarding the supply of real estate projects, of which, housing, urban areas (commercial housing, social housing, land) have 3,297 projects with a scale of 5.9 million units and a total investment of 7.42 million billion VND. Tourism, resorts: There are 218 projects with a scale of 10.8 thousand units and a total investment of 1.86 million billion VND (112 completed projects, 74 projects in progress and 32 projects with approved investment policies).

Commercial, service and office buildings: There are 223 projects with a total investment of 544.3 trillion VND (138 completed projects, 65 projects in progress and 20 projects with investment policy approval). Industrial parks: There are 447 established industrial parks with a total industrial land area of about 93,000 hectares (304 completed projects and 143 projects in progress).

Regarding the results of social housing development: the results of implementing the Project of 1 million social housing apartments: Up to now, the whole country has recorded 696 social housing projects being implemented with a scale of 637,048 apartments, of which: 191 projects have been completed, with a scale of 128,648 apartments; 195 projects have started construction, are being implemented with a scale of 123,057 apartments; 310 projects have been approved for investment, with a scale of 385,343 apartments. Thus, the number of projects completed, started construction, and approved for investment by 2025 reaches 60% of the target set in the Project (investment in construction of about 1,062,200 apartments).

Implementation results in the first 10 months of 2025, in which, regarding implementation results in localities: The whole country is investing in the construction of 123,057 units; of which, in the first 10 months of the year, 82 new projects with a scale of 89,888 units were started. 61,893/100,275 units have been completed (reaching 62%), it is expected that by the end of 2025, 29,692 more units will be completed (total of 91,585/100,275 units, reaching 91%).

Social housing development results of the Ministry of National Defense, Ministry of Public Security, Vietnam General Confederation of Labor: The Ministry of Public Security has started 8 housing projects for the people's armed forces with a scale of 4,554 units, including: Hanoi (7 projects, 3,794 units), Ho Chi Minh City (1 project, 750 units). The Ministry of National Defense plans to start 8 housing projects for the armed forces with a total scale of 6,547 units. The Vietnam General Confederation of Labor has started 3 projects, a total of 1,700 units.

Regarding land allocation for social housing development: According to reports from localities, there have been approximately 1,427 locations nationwide with a scale of 9,830.26 hectares of land for social housing. Accordingly, most localities have allocated enough land for social housing development.

Many localities have paid attention to and allocated social housing land funds in convenient locations, near urban centers and industrial parks, ensuring technical and social infrastructure requirements such as: Dong Nai (1,231ha), Ho Chi Minh City (743ha), Tay Ninh (563ha), Ha Tinh (475ha), Hue City (441ha)...

Ha Thanh Giang

Source: https://nhandan.vn/no-luc-phat-trien-phat-trien-thi-truong-bat-dong-san-nha-o-xa-hoi-lanh-manh-dung-huong-post922144.html