Prime Minister: There are solutions to reduce housing prices and increase real estate supply

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 its first meeting.

Prime Minister Pham Minh Chinh - Photo: VGP

Real estate transactions only slightly increased compared to 2024

The report at the meeting said that in the first 9 months of 2025, the real estate market showed some signs of recovery.

The country has more than 1,000 commercial housing projects, of which 960 projects are under construction, with nearly 149,000 apartments and more than 249,000 individual houses.

Many localities have formed model urban areas with synchronous infrastructure and functions, contributing to improving the quality of urban development.

Social housing development programs have been focused on implementation. Up to now, there are 692 projects with a total scale of 633,559 units, including: 165 completed projects (110,436 units); 147 projects have started construction (135,033 units); 380 projects have been approved for investment (388,090 units).

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

In conclusion, Prime Minister Pham Minh Chinh emphasized the clear policy of the Party and State: not to trade off fairness, progress and social security to pursue growth.

Citizens' right to housing is guaranteed in the spirit of "settling down and making a living". The Government is determined to build a stable, safe and transparent real estate market.

Along with the results achieved, he emphasized the need to strive to keep commercial housing prices at a reasonable level, suitable for the market, the Vietnamese economy and people's income, helping them easily access housing. This is even more necessary when the disbursement of the 145,000 billion VND credit package for social housing loans is still low.

The Prime Minister requested to renew thinking, promote the responsibility of leaders, and continue to remove obstacles in institutions, mechanisms, and policies to make things more open and convenient.

In addition to the regulation of reserving at least 20% of commercial project area for social housing, it is necessary to study the opposite application: allocating 20% ​​of social housing project area for commercial housing.

Reduce costs, adjust threshold for buying social housing

Solutions to reduce real estate prices and increase supply include handling backlog projects, promoting social housing, reducing land prices, costs, and improving transport, electricity, water, and telecommunications infrastructure. At the same time, increase the regulatory role of the State, use land effectively, simplify procedures, reduce pre-inspection, and focus on post-inspection.

It is necessary to apply fiscal policies on taxes, fees, and charges to reduce costs, combine credit tools, and issue bonds. Research new regulations on income thresholds for purchasing social housing, and allow localities to flexibly adjust.

The State Bank studies the interest rate mechanism, suitable loan terms, convenient procedures, and has incentive or sanction policies depending on the quality of banks' operations. Localities balance their budgets to invest in infrastructure and support interest rates. The national housing fund must be established in September.

The Ministry of Construction is researching for the Government to issue a resolution, assigning a number of capable and reputable enterprises to implement social housing projects, ensuring harmony of interests between the State, people and enterprises.

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Source: https://tuoitre.vn/thu-tuong-co-giai-phap-keo-giam-gia-nha-o-tang-nguon-cung-bat-dong-san-2025092220093202.htm