Prime Minister: Regulations appropriate to the income level of people eligible to buy social housing

In the first 9 months of 2025, the whole country had more than 1,000 commercial housing projects, of which 960 projects were under implementation, with a total scale of nearly 149,000 apartments and more than 249,000 individual houses.

On the afternoon of September 22, concluding the first meeting of the Central Steering Committee on housing policy and real estate market (Steering Committee), held online with a number of localities, Prime Minister Pham Minh Chinh , Head of the Steering Committee, requested to immediately implement solutions to reduce commercial housing prices in accordance with the market, to attract people, in the spirit of "harmonious benefits and shared risks."

According to the Steering Committee, thanks to the improvement of laws and drastic direction and removal of difficulties and obstacles, in general, the housing and real estate market have improved.

In the first 9 months of 2025, the whole country had more than 1,000 commercial housing projects, of which 960 projects were under construction, with a total scale of nearly 149,000 apartments and more than 249,000 individual houses.

Along with that, the whole country has 692 social housing projects being implemented, with a scale of more than 633 thousand units, of which 165 projects, with more than 110 thousand units have been completed. In particular, the whole country has completed the elimination of more than 334 thousand temporary and dilapidated houses nationwide.

The total number of real estate transactions reached about 430 thousand transactions, a slight increase compared to the same period in 2024. The market showed signs of recovery but remained localized. The apartment segment increased slightly in major cities, mainly in the mid-range segment; land transactions stagnated.

As of July 31, outstanding credit for the real estate sector reached more than VND 4 million billion, an increase of nearly 17% compared to the end of 2024; accounting for 23.68% of total outstanding debt for the economy .

Credit packages for social housing loans under the direction of the Government have also been strongly implemented, in which the credit package of 30 trillion VND under Resolution 02 of the Government has achieved outstanding loans of more than 2,300 billion VND; the social housing loan program under Decree 100 of the Government has a total outstanding loan of more than 19 trillion VND...

The meeting assessed that although the relevant legal system has been amended and supplemented, it still has problems and shortcomings; the supply of housing products is mainly in the high-end and mid-range segments, there is a lack of real estate products with prices suitable for the affordability of the majority of people; there are still phenomena of hoarding, price increases, speculation, increasing the real estate price level, causing an imbalance between supply and demand; businesses still face many difficulties in credit capital sources...

Regarding social housing development, there are still some shortcomings and limitations such as some localities are not really interested; the number of completed projects has not reached the target; the quality of land funds for social housing is not yet guaranteed; many localities have not arranged budget for implementation; some project investors do not have enough financial capacity and experience... leading to slow project implementation.

After having a deep and lively discussion with delegates about the roles, responsibilities, and participation of ministries, branches, and localities; causes and solutions to reduce real estate prices, especially apartment prices; promote the development of social housing; accelerate the disbursement of preferential credit packages for social housing; concluding the meeting, Prime Minister Pham Minh Chinh acknowledged and highly appreciated the dedicated, responsible, and effective opinions of ministries, branches, localities, large real estate investment and business enterprises, and delegates.

Affirming the Party and State's superior policies on social security, including housing policies for the people, Prime Minister Pham Minh Chinh said that the Government and the Prime Minister are very interested in, focused on, and making efforts to implement solutions to develop a stable, safe, and healthy real estate market, in compliance with the laws of the market economy, under the management of the State, under the leadership of the Party; removing all difficulties and obstacles according to the motto of "where there are obstacles, remove them there, the obstacles under the responsibility of which level, that level will remove them, in which field, that sector will remove them, in the spirit of "clear people, clear work, clear time, clear responsibility, clear authority, clear results."

The Head of Government emphasized that the development of the real estate and social housing market contributes to promoting rapid and sustainable growth and development of the country; and contributes to the development of civilized and modern urban and rural areas.

Prime Minister Pham Minh Chinh chairs the first meeting of the Central Steering Committee on housing policy and real estate market. (Photo: Duong Giang/VNA)

Therefore, ministries, branches and localities must promote achievements, lessons learned and results achieved, while overcoming limitations and promptly, flexibly and effectively removing obstacles...

According to Prime Minister Pham Minh Chinh, recently, the removal of institutional and legal issues regarding the real estate and social housing market has been actively implemented, under the direction of General Secretary To Lam; institutional and policy difficulties have been resolved to develop a healthy and effective market; at the same time, promoting infrastructure development, reducing input costs, reducing prices, increasing access for people; bringing positive results and opening up many development prospects in the coming time.

In particular, the real estate market is recovering positively, developing healthily and in the right direction, contributing to supporting banks in reducing bad debt ratio; social housing development is changing positively; real estate projects with problems and backlogs are being resolved; industrial park real estate and logistics are developing well.

Requiring that commercial housing prices must be consistent with the nature of the market, the economy, and the conditions and capabilities of the people; the goal is to provide housing for all people, contributing to improving the material and spiritual life of the people, Prime Minister Pham Minh Chinh said that there must be a comprehensive, all-encompassing solution; there must be close cooperation and coordination between the state and enterprises, between the central government and localities, maintaining fiscal and monetary policies with land policies and other policies.

From that perspective, the Prime Minister requested ministries, branches, localities and related entities to raise awareness and responsibility for developing the real estate and social housing market; have innovative thinking, take drastic actions, and promote the responsibility of leaders; continue to remove difficulties in institutions, policies and mechanisms related to land and banking; minimize administrative procedures; strengthen decentralization and delegation of power, especially issues related to land, real estate, social housing, credit, etc.

Analyzing solutions to reduce commercial housing prices, the Prime Minister requested to increase supply; promote social housing development; reduce land prices and raw material prices, in which raw material prices must have fluctuation coefficients, suitable to the market and each locality and decentralized to local regulations; reduce administrative procedures to reduce input costs; the government must participate more deeply in developing transport, telecommunications, electricity, water infrastructure, etc. to create more space for housing development.

According to the Prime Minister, the State must regulate land and real estate prices through financial tools, especially tax, fee, charge policies and other financial policies; have mechanisms and policies to reduce interest rates and appropriate loan terms; study regulations on income levels of people entitled to buy social housing in accordance with the situation and each locality.

Noting that ministries and branches coordinate to urgently complete the construction of the National Housing Fund in September 2025, Prime Minister Pham Minh Chinh requested localities to balance the investment budget for infrastructure; support interest rates for loans for real estate, social housing, etc.

Agreeing with the tasks and solutions proposed by the Ministry of Construction and ministries, branches, localities, associations and enterprises on the development of the real estate market and social housing, the Prime Minister assigned the Ministry of Construction to coordinate with localities to study and select a number of reputable, capable, dedicated and talented enterprises to participate in the construction of a number of specific social housing projects, in the spirit of "harmonious benefits and shared risks"./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/thu-tuong-quy-dinh-phu-hop-muc-thu-nhap-cua-nguoi-duoc-mua-nha-o-xa-hoi-post1063312.vnp