Prime Minister Pham Minh Chinh, Head of the Central Steering Committee on Housing Policy and Real Estate Market, chaired the meeting to announce the decision to strengthen the Steering Committee and its first session – Photo: VGP/Nhat Bac
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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 the first session to strengthen the Steering Committee and review the housing situation and real estate market performance for the first nine months of 2025, along with tasks for the remaining months of the year.
The meeting was held in person at the Government Office and connected online with 34 provinces and centrally-governed cities. Attendees included Deputy Prime Minister Tran Hong Ha, Standing Deputy Head of the Steering Committee; ministers, heads of ministerial-level agencies, and government bodies; leaders of ministries, sectors, and members of the Steering Committee; provincial and city leaders; and representatives from business associations and economic groups.
During the meeting, Prime Minister Pham Minh Chinh emphasized that the nation is striving to achieve a growth target of 8.3-8.5% in 2025 and double-digit growth in subsequent years to meet the 100-year goals. To achieve this, the Politburo has issued and the entire nation is implementing key resolutions and strategic directions to develop a prosperous country, improve people’s well-being, and ensure happiness and prosperity.
The Prime Minister noted that General Secretary To Lam recently met with the Standing Committee of the Government Party Committee and relevant ministries to discuss urban and rural development in the new context. He highlighted the critical role of real estate and its market in driving economic growth, urban development, and improving living standards, thereby creating a modern and civilized urban landscape.
 Prime Minister Pham Minh Chinh stated that the meeting aimed to discuss ongoing tasks for the remainder of the year and preparations for 2025 – Photo: VGP/Nhat Bac
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The real estate market serves as a vital capital mobilization and allocation channel, significantly impacting related sectors such as construction, finance, building materials, and services. Housing development is a crucial component of the social safety net, ensuring social progress, equity, and effective economic and social development.
Stressing the Party and State’s primary goal of securing national independence, freedom, and enhancing people’s material and spiritual lives, Prime Minister Pham Minh Chinh emphasized the government’s commitment since the beginning of its term to developing social housing. This aligns with the Party’s major policy of ensuring “settled lives and prosperous careers” for the people. Efforts are focused on increasing supply and restructuring real estate products, particularly affordable social housing for low- and middle-income earners. However, progress in the real estate market and social housing development remains unsatisfactory.
The Prime Minister called for improving urban quality, acknowledging that much work remains to address challenges such as high and persistently rising apartment prices. He urged a thorough examination of market manipulation, hoarding, price inflation, and market distortions.
He directed that supply be increased to balance market demand and supply through market mechanisms. Identifying bottlenecks in housing policies and the real estate market is essential to formulate solutions for the remainder of the year and beyond, fostering breakthroughs and improvements in these areas to drive growth.
The Prime Minister instructed the Steering Committee to review and assess assigned tasks, identify challenges in the real estate market and social housing development, particularly regarding institutional frameworks, and evaluate achievements, shortcomings, and lessons learned to guide future leadership and management.
 Delegates attending the meeting – Photo: VGP/Nhat Bac
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According to the Steering Committee, in the first nine months of 2025, the country had over 1,000 commercial housing projects, with 960 under construction, totaling nearly 149,000 apartments and more than 249,000 individual houses.
Additionally, 692 social housing projects are underway, with a total of over 633,000 units. Of these, 165 projects comprising more than 110,000 units have been completed. The number of completed, started, and approved projects by 2025 reached 59.6% of the set target. Notably, over 334,000 temporary and dilapidated houses nationwide have been eliminated.
Real estate transactions totaled approximately 430,000, a slight increase compared to the same period in 2024. The market shows localized recovery signs, with a modest rise in mid-range apartment sales in major cities and stagnant land plot transactions.
As of July 31, outstanding credit in the real estate sector reached over 4,000 trillion VND, up nearly 17% from the end of 2024, accounting for 23.68% of the total credit to the economy.
Government-directed credit packages for social housing have been actively implemented. The 30,000 billion VND package under Resolution 02/NQ-CP involved 17 commercial banks, with outstanding loans exceeding 2,300 billion VND. The program under Decree 100/2024/NĐ-CP has an outstanding balance of over 19,000 billion VND, and the program under Resolution 33/NQ-CP for social housing, worker housing, and old apartment renovations is also progressing.
– 16:25 22/09/2025
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