Slow progress in social housing, real estate prices increase rapidly

VTV.vn - The progress of social housing construction only reached 43.6%, while real estate prices continue to escalate, causing great pressure on low-income urban people.

According to the Ministry of Construction , in the first 9 months of the year, the whole country completed only 43,681 social housing units out of a total of 100,275 units delivered.

The latest report of the Ministry of Construction just released shows that the progress of the project to build 1 million social housing apartments after 9 months of 2025 is still very slow, completing only about 43.6% of the total plan. Meanwhile, the real estate market has recorded an unprecedented increase in prices, creating increasing pressure on the ability to buy houses of people, especially the middle and low-income groups in large cities such as Hanoi and Ho Chi Minh City.

According to the Ministry of Construction, in the first 9 months of the year, the whole country has only completed 43,681 social housing units out of a total of 100,275 units delivered, with an expected number of 82,926 units by the end of the year, or only approximately 83% of the plan. Hanoi and Ho Chi Minh City, two large cities, have not yet completed their set targets, reaching 44% and 53% respectively. Along with that, there are a total of 692 social housing projects being implemented nationwide with a scale of about 633,559 units, but the rate of completed, started and approved projects only accounts for 59.6% of the plan.

Many experts believe that the slow progress in building social housing while real estate prices continue to rise has widened the gap between low-income housing and low-income housing. This is not only a challenge for housing development but also seriously affects social security in urban areas.

Meanwhile, real estate prices in Hanoi and Ho Chi Minh City continue to maintain record highs. Primary apartment prices in Hanoi increased by 33% compared to last year, reaching about 70-80 million VND/m2, with some high-end projects reaching up to 300 million VND/m2. In Ho Chi Minh City, the average price is about 75 million VND/m2, stable compared to the beginning of the year but up 36% compared to the same period in 2024. Prices of townhouses and villas also increased sharply, ranging from 100 to 300 million VND/m2 in central or new urban areas. Even land prices in some areas are being controlled but still remain high, from 60 to more than 200 million VND/m2 depending on location.

The Ministry of Construction also warned of many legal problems and project delays that have wasted land and capital investment resources, increased costs, and pushed up selling prices even further. In addition, localities have not yet developed enough low-cost commercial housing products and social housing that are affordable for low- and middle-income earners. The lack of suitable housing supply has caused the market to be out of sync, with most of it focused on the high-end segment, while the majority of people still have difficulty accessing suitable housing.

According to the Ministry of Construction, current real estate prices do not reflect their true value because they are affected by speculation, hoarding, and price increases that distort supply and demand and exceed the affordability of most urban residents with middle and low incomes. Furthermore, businesses in this sector are facing many financial difficulties, such as restrictions on credit loans, bond issuance, and sales, further delaying social housing projects.

Thus, the slow progress of social housing construction combined with soaring real estate prices are increasing pressure on urban security, posing an urgent need for synchronous solutions on policy, payment, and market control to ensure the rights of people, especially low-income earners.

Source: https://vtv.vn/tien-do-nha-o-xa-hoi-cham-gia-bat-dong-san-tang-nong-100250925164818383.htm