Prime Minister requests housing development for people with an income of over 20 million VND/month

On January 13, in Hanoi, Politburo member and Prime Minister Pham Minh Chinh chaired the 5th meeting of the Central Steering Committee on housing policies and the real estate market.

In his concluding remarks, the Prime Minister said that there are still more than 10 localities that have not completed the target on social housing, showing that the implementation results are not yet uniform; the supply of social housing (NOXH), especially social housing for rent, is still lacking; the grasp of the actual needs of the people is still passive.

The Prime Minister requested to reduce commercial housing prices, especially apartments, to a reasonable level, in line with the overall development of the country. Control credit as an economic growth driver, direct credit to priority sectors and have a risk management policy for real estate credit.

Assigning specific tasks, the Prime Minister requested the Ministry of Construction to preside over and complete the dossier to propose competent authorities to consider and establish a Real Estate and Land Use Rights Trading Center managed by the State in January 2026.

Develop mechanisms and policies for housing development for middle-income people (over 20 million VND/month); increase supply of different segments.

The Ministry of Finance carefully studies tax policies under the direction of the Prime Minister in Official Dispatch No. 03/CD-TTg to limit speculation, "inflate" real estate prices, and direct investment capital into production and business activities.

The Prime Minister assigned the State Bank of Vietnam to direct credit institutions to accelerate the disbursement of credit programs for social housing and rental housing to the right subjects, for the right purposes, and in accordance with regulations. Analyze and propose to remove difficulties in disbursing the VND145,000 billion credit package to social housing (there is still low after 2 years of implementation).

Tightly control real estate credit, do not allow speculative capital flows, distort the market, direct capital flows to housing projects with suitable prices, social housing projects and production and business activities, serving the double-digit growth target.

Research, direct, and guide commercial banks to reduce costs, increase digital transformation, reduce compliance costs to reduce social housing lending interest rates, develop healthy, stable, and sustainable real estate.

The Ministry of Home Affairs studies mechanisms and policies related to housing for cadres, including policies to attract talent; do a good job of emulation and reward.

The Ministry of National Defense and the Ministry of Public Security continue to review the housing needs of the armed forces; proactively coordinate with localities to assign investors, organize groundbreaking and implement investment projects to build houses for the armed forces under their management, ensuring progress, quality and efficiency.

The Ministry of Public Security directs the investigation and strictly and promptly handle acts of illegal brokerage, fraud, property appropriation, manipulation of social housing purchase records, manipulation of the real estate market, ensuring publicity, transparency, and the right subjects.

The Prime Minister requested localities to urgently review and fully assess housing needs in the area, including: social housing for rent, housing for cadres, civil servants, public employees, housing for workers; on that basis, proactively develop targets for housing development for rent in 2026 and the following years, ensuring feasibility and sustainability.

"Legging in developing social housing, rental housing, and developing a healthy, stable, and sustainable real estate market is a fault of the people and the country," said the Prime Minister.

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