Quickly remove difficulties and obstacles to increase the supply of social housing

At the meeting, Prime Minister Pham Minh Chinh suggested a number of contents for delegates to focus on discussing, such as solutions to increase the supply of social housing and commercial housing at suitable prices; solutions to reduce investment costs to reduce product prices, such as cutting compliance costs, input costs, reducing administrative procedures, and reducing construction costs.

On the morning of October 11, Prime Minister Pham Minh Chinh - Head of the Central Steering Committee on Housing Policy and Real Estate Market, chaired the second meeting of the Steering Committee, focusing on discussing breakthrough development of social housing. Attending the meeting were Deputy Prime Minister Tran Hong Ha - Deputy Head of the Steering Committee, leaders of ministries, branches, central agencies, 34 provinces and cities, representatives of corporations, enterprises, and commercial banks.

Nghe An bridge point was chaired by Comrade Bui Thanh An - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee. Also attending were representatives of leaders of a number of departments, branches and wards in Vinh City (old).

Scene at Nghe An bridge. Photo: Tien Hung

Nghe An exceeds assigned target for social housing construction

According to the report of the Ministry of Construction on the results of the Project of 1 million social housing apartments, up to now, the whole country has had 696 projects being implemented, with a scale of more than 637,000 apartments. Of which, 165 projects with more than 116,000 apartments have been completed; 151 projects with a scale of more than 132,000 apartments have started construction and are under construction; 380 projects with a scale of nearly 390,000 apartments have been approved for investment. Accordingly, the total number of completed, started construction and approved investment projects by 2025 will reach 60% of the target set in the Project.

Nghe An is one of 16 localities that have met or exceeded the assigned target. Specifically, in 2025, Nghe An was assigned a target of 1,420 apartments, but to date has completed 2,981 apartments, reaching a rate of 168%. In addition, Nghe An is also investing in the construction of 4,367 apartments. It is expected that in 2025, Nghe An will have 2,548 apartments, reaching a rate of 179% compared to the assigned target.

Representatives of departments, branches and wards in Vinh City (old) attended the meeting. Photo: Tien Hung

Resolution No. 01/2025 of the Government on the main tasks and solutions to implement the socio-economic development plan for 2025 has determined to focus on effectively implementing the national housing development strategy, specifically the Project to invest in building at least 1 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period and local housing development programs and plans.

In recent times, the Government and the Prime Minister have resolutely directed the implementation of many synchronous solutions to remove difficulties, promptly promote investment projects, increase the supply of housing and real estate products in all segments, especially the segment of affordable housing and social housing. Strengthening control and rectification of land management, use, valuation and auction of land, promptly handling cases of manipulation, price hikes and speculation, in order to stabilize the real estate market with more synchronous institutions, more preferential mechanisms and policies, more convenient administrative procedures, creating a larger supply of housing, with more reasonable segments and lower prices, thereby ensuring the right to housing of the people.

Prime Minister Pham Minh Chinh speaks at the meeting. Photo: VGP/Nhat Bac

According to the Prime Minister, in addition to the achieved results, a number of legal regulations, mechanisms and policies on the development of the real estate market and social housing have not been amended or supplemented to suit the actual situation. There is a lack of supply of affordable commercial housing and social housing, while the progress of implementing social housing investment projects is still slow.

Housing prices in large cities are still beyond the affordability of most people, and there is still a situation of price hikes, high prices, virtual prices, and market information disruption for profiteering purposes. Some project investors offer real estate prices much higher than the average. Real estate operations and trading floors are not unified, still contain risks and lack transparency. Information on housing and the real estate market is not complete, timely, and lacks transparency.

The apartment market in Nghe An has skyrocketed recently. Photo: Tien Hung

Focus on removing obstacles

At the meeting, representatives of leaders of ministries, branches, central and local agencies focused on discussing the following contents: Solutions to increase the supply of social housing and commercial housing at suitable prices; solutions to reduce investment costs to reduce product prices, such as cutting compliance costs, input costs, reducing administrative procedures, reducing construction costs...

After listening to the discussion opinions and concluding the meeting, Prime Minister Pham Minh Chinh affirmed that in order to develop and operate the real estate market synchronously, it is necessary to develop and expand housing types, promote the development of social housing, rental housing, low-cost housing, housing for workers in industrial parks, create conditions and encourage economic sectors to participate in housing development according to market mechanisms for social policy beneficiaries...

Along with that is an appropriate tax policy to prevent speculative acts of inflating prices and offering housing prices too high compared to the market average; a credit policy to regulate, prioritize, and direct capital flows to social housing projects and those in need of buying social housing and commercial housing at suitable prices, while at the same time, controlling the flow of money into speculative housing segments and taking advantage of policies.

Raising the issue of why with the same mechanism and policy, some localities do very well, while others do not, the Prime Minister suggested pointing out lessons learned from practice; institutional and legal problems in establishing real estate transaction centers and land use rights managed by the State; land price issues; project assignment to investors and social housing construction enterprises...

The Prime Minister hopes that after the meeting, a number of authorities under the Government, ministries, branches and localities will be immediately resolved; if there are any remaining problems, the National Assembly will be proposed to issue a resolution at the upcoming session to continue to resolve them. According to the Prime Minister, all relevant entities must make efforts and be proactive, in which the State will be the creator, enterprises will be the pioneers, contributing to promoting a healthy, stable and developing real estate market and finally the people must enjoy it.

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Source: https://baonghean.vn/som-thao-go-kho-khan-vuong-mac-de-tang-nguon-cung-nha-o-xa-hoi-10308056.html