Prime Minister: Increase supply, reduce costs, bring real estate prices to a suitable level

(laichau.gov.vn) Stating the determination of the Government and the Prime Minister to build and develop a stable, safe, healthy, open and transparent real estate market, Prime Minister Pham Minh Chinh emphasized 11 groups of important tasks and solutions to aim at increasing supply, reducing costs, striving to keep commercial housing prices at a reasonable level, consistent with the nature of the market, consistent with the Vietnamese economy, consistent with the average income of the people, promoting the development of social housing, so that people have favorable and suitable housing conditions.

Prime Minister Pham Minh Chinh , Head of the Central Steering Committee on housing policy and real estate market, chaired the conference to announce the decision to reorganize the Steering Committee and the first meeting of the Steering Committee - Photo: VGP/Nhat Bac

On the afternoon of September 22, Prime Minister Pham Minh Chinh, Head of the Central Steering Committee on housing policy and real estate market, chaired a conference to announce the decision to reorganize the Steering Committee and the first meeting of the Steering Committee.

Attending the meeting were Party Central Committee members: Deputy Prime Minister Tran Hong Ha, Deputy Head of the Steering Committee; Minister of Construction Tran Hong Minh, Deputy Head of the Steering Committee; Minister, Head of the Government Office Tran Van Son; Vice President of the Central Committee of the Vietnam Fatherland Front Ha Thi Nga; leaders of ministries, agencies, localities; representatives of enterprises, banks, and associations.

The first meeting of the Steering Committee - Photo: VGP/Nhat Bac

692 social housing projects are being implemented with a scale of 633,559 apartments.

According to reports and opinions at the conference, in recent times, the work of perfecting institutions and legal documents related to the housing sector and real estate market has been amended and supplemented to suit the practical situation.

The Government and the Prime Minister have focused on leadership and direction, and ministries, branches and localities have resolutely implemented tasks and solutions, removing difficulties, obstacles and bottlenecks.

Since the beginning of the term, the Steering Committee has advised the Government and the Prime Minister to issue 22 resolutions, 16 directives, and many dispatches to regulate activities related to the real estate market and social housing development, achieving very positive results.

Delegates speak at the meeting - Photo: VGP/Nhat Bac

In the first 9 months of 2025, the real estate market recorded some positive signs of recovery. The country has more than 1,000 commercial housing projects, of which 960 projects are under construction, with a total scale of nearly 149,000 apartments and more than 249,000 individual houses. Some localities have actively developed and formed model urban areas with synchronous infrastructure and functions, contributing to improving the quality of urban development.

Many social housing development programs and projects have been focused on and have achieved positive results. Up to now, the whole country has 692 social housing projects being implemented with a scale of 633,559 units, of which: 165 projects have been completed, with a scale of 110,436 units; 147 projects have started construction and are being implemented with a scale of 135,033 units; 380 projects have been approved for investment policy, with a scale of 388,090 units.

Minister of Construction Tran Hong Minh speaks at the meeting - Photo: VGP/Nhat Bac

The total number of real estate transactions reached about more than 430,000 transactions, a slight increase compared to the same period in 2024.

Regarding housing support for people with revolutionary contributions according to Decision No. 21/2024/QD-TTg dated November 22, 2024, it has been basically completed, and support has been provided to 34,754 households nationwide. Regarding housing support for poor and near-poor households in poor districts: support has been provided to 85,894 households, reaching 100%. The Program to eliminate temporary and dilapidated houses nationwide has been completed 5 years and 4 months early, with 334,000 houses repaired and newly built.

Deputy Prime Minister Tran Hong Ha speaks at the meeting - Photo: VGP/Nhat Bac

Outstanding real estate loans increase but bad debt is under control

After listening to reports, opinions and concluding remarks, Prime Minister Pham Minh Chinh affirmed the Party and State's very clear policy: Absolutely not sacrificing fairness, progress and social security to pursue mere growth; ensuring citizens' right to housing in the spirit of "settling down and working"; the greatest goal of our Party and State is to gain independence and freedom for the nation and improve the spiritual and material life of the people to become increasingly prosperous and happy.

The Prime Minister stated that the Government and the Prime Minister are determined to build and develop a stable, safe, healthy, open, transparent real estate market, in compliance with the laws of the socialist-oriented market economy under the leadership of the Party and the management of the State. It is necessary to clearly identify what is stuck, where it is stuck, to what extent it is stuck, whose responsibility it is, and at what level, the Prime Minister said.

According to the Prime Minister, implementing housing policies and developing the real estate market well will contribute to the country's rapid and sustainable development, promote high growth, control inflation, ensure major balances of the economy, and contribute to the development of civilized and modern urban and rural areas.

To achieve this goal, relevant entities must join hands with the Government, promote good practices, and promptly, quickly, flexibly, and effectively detect and resolve difficulties and obstacles.

The Prime Minister stated that the Government and the Prime Minister are determined to build and develop a stable, safe, healthy, open and transparent real estate market - Photo: VGP/Nhat Bac

The Head of Government said that to contribute to removing difficulties and developing the real estate market, institutional and infrastructure breakthroughs have been, are being, and will be promoted.

Recently, the legal settlement has been actively implemented. General Secretary To Lam has given many important instructions on perfecting institutions and laws, including some contents related to the real estate market and housing policies. The Prime Minister said that the spirit is to report to competent authorities to continue issuing appropriate documents to resolve the issues; at the same time, relevant laws have been and are being amended. At the same time, promoting the development of strategic infrastructure to contribute to reducing input costs for the real estate sector, reducing prices, increasing competitiveness, and increasing people's access to housing.

The Prime Minister said that the above efforts have achieved positive results. The real estate market is recovering positively; contributing to supporting banks to escape bad debt (according to the State Bank of Vietnam's report, outstanding real estate loans are increasing but in the right direction, bad debt is being controlled; this will contribute to promoting the market in the coming time because there needs to be a delay), the projects that have been resolved have recovered and grown again; social housing has changed very positively. Notably, industrial real estate and logistics have developed well.

Actively removing difficulties in institutions, mechanisms and policies helps this market develop healthily, safely, innovatively but equally and effectively, contributing to improving housing for people.

Commercial housing prices must be consistent with the nature of the market, the economy and people's income.

Delegates attending the meeting - Photo: VGP/Nhat Bac

In addition to the very basic results achieved, the Prime Minister emphasized that we must strive to keep commercial housing prices at a reasonable level, consistent with the nature of the market, consistent with the Vietnamese economy, consistent with people's income; the goal is that people have favorable and suitable housing conditions, contributing to improving people's material and spiritual lives. According to the Prime Minister, the 145 trillion VND credit package for social housing loans has not been disbursed much.

Affirming that the development of the real estate and social housing market is a major issue, a matter of great national importance, the Prime Minister clearly stated the view that there must be many comprehensive, all-encompassing, open and effective solutions; requiring close coordination between the Central and local levels, the State and enterprises, the people, between fiscal policy, monetary policy and other policies.

The Prime Minister directed a number of groups of tasks and solutions in the coming time.

Firstly, raise awareness and responsibility of relevant subjects, have appropriate thinking, take decisive action, and promote the responsibility of leaders.

Second, continue to remove difficulties in institutions, mechanisms, and policies to create openness and convenience. For example, the Prime Minister suggested that, in addition to the regulation of reserving a minimum of 20% of commercial housing project area for social housing, research should be conducted to apply reserving 20% ​​of social housing project area for commercial housing.

The Prime Minister directed a number of groups of tasks and solutions in the coming time - Photo: VGP/Nhat Bac

Third, review and reduce administrative procedures, promote decentralization and delegation of authority related to the real estate market and social housing of competent authorities, to reduce compliance costs for people and businesses, with the spirit of "locality decides, locality does, locality is responsible", changing the state from mainly management, "if you can't manage, then ban" to creating development and serving people and businesses.

Fourth are solutions to reduce real estate prices, increase supply to meet supply and demand, through resolving backlog projects, promoting social housing, reducing land prices, reducing costs, solving infrastructure problems in traffic, electricity, water, telecommunications, etc.

Fifth, regarding land prices, the Prime Minister requested strengthening the state's management and regulation role; using land effectively; simple and transparent procedures, reducing pre-inspection, and focusing on post-inspection.

Sixth, use fiscal policies on taxes, fees and charges to regulate and contribute to cost reduction, use other policy tools such as loans, bond issuance, etc.

Seventh, research new regulations on income thresholds for purchasing social housing, and at the same time give localities flexibility to adjust.

Eighth, the State Bank studies mechanisms and policies related to loan interest rates, appropriate loan terms, and favorable procedures; has appropriate policies and sanctions for banks that do well and those that do not; banks continue to promote the spirit of responsibility, nationalism, compatriotism, and apply science and technology to reduce costs.

Ninth, localities balance their budgets to invest in infrastructure and support loan interest rates. Ministries should soon complete the legal framework and procedures to establish the National Housing Fund, to be completed in September.

Tenth, regulations on raw material prices have fluctuation coefficients suitable to market fluctuations; local implementation is assigned to ensure transparency and closeness to reality.

Eleventh, the Ministry of Construction will study for the Government to issue a resolution, assigning a number of capable, dedicated and talented enterprises to implement a number of social housing projects according to the principle of harmonizing the interests between the State, people and enterprises.

The Prime Minister emphasized the need to learn from experience while doing things, gradually expand, not be perfectionist, not hasty; what is ripe, clear, proven correct in practice, effectively implemented, and agreed upon by the majority should be legalized, and for issues that are still fluctuating, sub-law regulations should be developed to regulate.

Updated on September 22, 2025

Source: https://laichau.gov.vn/tin-tuc-su-kien/chuyen-de/tin-trong-nuoc/thu-tuong-tang-nguon-cung-giam-chi-phi-dua-gia-bat-dong-san-ve-muc-phu-hop.html