Prime Minister Pham Minh Chinh chaired the second meeting on breakthrough development of social housing.

On the morning of October 11, Prime Minister Pham Minh Chinh, Head of the Central Steering Committee on Housing Policy and Real Estate Market (Steering Committee) chaired the second meeting of the Steering Committee on "Breakthrough Development of Social Housing" in the form of direct and online nationwide. At the bridge point of Ca Mau province, there were Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee Pham Thanh Ngai and Vice Chairman of the Provincial People's Committee Lam Van Bi attending the meeting.

Delegates attending the meeting at the Ca Mau province bridge

Up to now, the whole country has 39 completed commercial housing projects with a scale of over 15,000 units, an increase of 11.4% over the same period in 2024; 75 projects have been granted construction permits, with a scale of over 33,300 units. In addition, the whole country is investing in the construction of 132,616 social housing units; 71 projects investing in infrastructure construction and transferring land use rights.

According to the statistics, the total number of real estate transactions is estimated at over 431,100 transactions, an increase of about 1.27% over the same period in 2024. The volume of transactions in the market remains stable, without any explosion. The real estate inventory in projects to date is over 25,200 units/plots (including apartments, individual houses, and land plots). The price of new social housing (primary) is still much lower than that of commercial housing, with the estimated selling price being mainly around 15-25 million VND/m²; the price level of some types of real estate for rent is generally stable, without major fluctuations.

At the meeting, delegates focused on exchanging and discussing solutions to increase the supply of social housing and commercial housing at suitable prices; reduce investment costs to reduce product prices; and need for tax policies to prevent speculative behavior and "inflating" social housing prices compared to the average market level.

Prime Minister Pham Minh Chinh speaks at the meeting

Speaking at the meeting, Prime Minister Pham Minh Chinh requested ministries, branches and localities to study, amend and supplement legal mechanisms and policies, and develop policies on renting and purchasing social housing for low-income people, ensuring that they are suitable to the actual situation.

The Prime Minister requested that there must be breakthrough and specific solutions to promote the development of a stable, fair, healthy and sustainable real estate market, preventing speculation and price inflation to take advantage of policies. Increase access to home buying, ensuring the right to housing for people, especially workers, low-income and middle-income earners, and vulnerable people.

In addition, banks need to control speculative and hoarding cash flows; media agencies should focus on promoting and replicating good models, effective practices and advanced examples in implementing breakthrough development of social housing.

Prime Minister Pham Minh Chinh emphasized: The implementation of breakthrough development of social housing must be carried out in the spirit of saying and doing, doing for real, with real efficiency, and for people to truly enjoy. In addition, it is necessary to renew thinking, awareness, act decisively, with high determination, make great efforts, identify the focus, key points, learn from experience while doing, not be perfectionist or hasty in order to meet people's need for social housing, in accordance with people's income.

Source: https://www.camau.gov.vn/kinh-te/thu-tuong-chinh-phu-pham-minh-chinh-chu-tri-phien-hop-thu-2-ve-phat-trien-dot-pha-nha-o-xa-hoi-289551