Prime Minister Urges Urgent Report on Real Estate Tax Policy by October 15
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Urgent Report on Real Estate Tax Policy Required
According to the directive, while there have been positive developments, real estate and housing prices in certain areas have surged, far exceeding the financial capacity of residents.
This is partly due to a lack of information about housing and the real estate market, as well as price manipulation and artificial inflation. There is also a shortage of affordable commercial housing and, although social housing projects are being vigorously implemented, they are not yet sufficient to meet public demand.
To promptly promote investment projects, increase the supply of housing and real estate, and strengthen control over market manipulation and speculation, the Prime Minister has instructed ministries, sectors, and localities to focus on improving institutions, policies, and laws, while minimizing administrative procedures and enhancing decentralization.
Relevant agencies and units are required to urgently research, develop, and implement breakthrough mechanisms to attract resources for a stable, healthy, transparent, and publicly accessible real estate market. A particular focus is on expanding affordable housing options for middle-income earners to enhance their quality of life.
Specifically, the Prime Minister has tasked the Minister of Construction with coordinating efforts alongside the Ministry of Agriculture and Environment, the Ministry of Finance, and related agencies to finalize the pilot project for the “State-Managed Real Estate and Land Use Rights Trading Center.” This proposal is to be submitted to the Government and the Prime Minister for approval in October 2025.
The Minister of Finance is required to submit a report on real estate tax policy to the Prime Minister by October 15, as directed by Deputy Prime Minister Hồ Đức Phớc. Collaboration with the Ministry of Construction and other relevant ministries is also mandated to implement digital transformation, ensuring seamless electronic procedures for real estate transactions, notarization, taxation, and land registration.
Scrutinize Credit Approval for High-Priced Projects
The Minister of Agriculture and Environment is tasked with finalizing legal documents related to land management, particularly concerning land use planning, allocation, leasing, and pricing, to address challenges and submit them for approval by the competent authorities in October 2025.
The Prime Minister has instructed the Governor of the State Bank of Vietnam to proactively manage monetary policy, ensuring effective control and inspection to direct credit toward priority areas. This includes financing for developers and homebuyers in projects such as social housing, worker housing, condominium renovations, and commercial housing priced within the reach of the general public.
The State Bank will continue to work with relevant ministries to revise lending criteria and procedures, making them more accessible. This effort aims to accelerate the disbursement of the VND 120,000 billion credit program for social housing, worker housing, and housing for the military.
Efforts will also be intensified to effectively implement credit packages supporting social housing policies and preferential loan programs for individuals under 35 purchasing their first commercial or social housing unit. These initiatives will offer suitable interest rates and terms, ensuring timely disbursement to eligible recipients.
The Government leaders have called upon major cities and key areas such as Hanoi, Haiphong, Ho Chi Minh City, Da Nang, Hue, Can Tho, and provinces with numerous industrial zones to prioritize land allocation for social housing and affordably priced commercial housing projects. This aims to increase the supply of housing suitable for residents’ income levels. A comprehensive report on the situation, along with proposed breakthrough solutions to promote social housing development, should be submitted to the Ministry of Construction by October 10, 2025.
The Chairpersons of the People’s Committees of provinces and centrally-governed cities are required to immediately reduce and reform administrative procedures, ensuring sufficient staffing to effectively carry out decentralized functions in planning, land management, construction, housing, real estate, and investment. This will prevent delays in processing administrative procedures due to staff shortages.
– 10:30 08/10/2025
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