Prime Minister addressing the meeting. (Photo: Government News).
On the morning of January 13th, Prime Minister Pham Minh Chinh, Head of the Central Steering Committee for Housing Policy and Real Estate Market, chaired the 5th Meeting of the Steering Committee.
In his speech at the conference, the Prime Minister emphasized key directives for the future: All housing policies must be people-centric, focusing on citizens as the core and ensuring no one is left behind. Housing is a fundamental need, a pillar of social welfare policy, and a critical factor in ensuring political stability, social order, and sustainable development. It is essential to provide safe and stable housing for the people, especially vulnerable groups.
Additionally, there must be a shift from a management mindset to a service-oriented approach, leading development with actions rather than words. The satisfaction of the people should be the ultimate measure of success. There should be no unnecessary delays or obstacles, and commitments made must be fulfilled with tangible, measurable results.
Businesses are recognized as key players in project implementation, operating within legal frameworks. The government’s role is to create an enabling environment, ensure fairness, and foster harmonious interests among the state, citizens, and businesses, with shared risks. Reputable and qualified businesses should be entrusted with projects to ensure swift and compliant execution.
The Prime Minister outlined future goals: Ensuring social progress and equality, providing equal access to housing for all citizens, and aligning housing rights with individual income levels, national development, and market dynamics.
Administrative procedures will be streamlined to eliminate red tape, reduce compliance costs, and prevent harassment. Ministries, sectors, and localities must meet targets for social housing and foster a stable, healthy, and sustainable real estate market, in line with Party guidelines and state laws. Commercial housing prices, particularly for apartments, will be adjusted to reasonable levels, reflecting the country’s overall development. Credit allocation will prioritize economic growth drivers, with risk management policies for real estate lending.
Specific tasks were assigned: The Ministry of Construction is to finalize the proposal for establishing the State-Managed Real Estate and Land Use Rights Trading Center by January 2026. This center will standardize transaction processes, implement a “one-stop-shop” mechanism, and gradually transition to digital operations, ensuring transparency and efficiency.
The Ministry will also monitor and urge localities and businesses to accelerate social housing and rental housing projects, ensuring the completion of 2026 targets and beyond.
Localities will be guided to review and finalize their 2026–2030 housing development plans by Q1/2026, aligning with zoning, land availability, and population needs, especially post-administrative restructuring.
Policies will be developed to support housing for middle-income earners (over 20 million VND/month), increasing supply across various segments.
The Ministry of Finance is tasked with securing financial resources for social housing and rental housing policies, in compliance with legal provisions. Tax policies will be studied to curb speculation and price manipulation, redirecting investment into productive sectors.
In collaboration with the Ministry of Construction, the Ministry will oversee the Local Housing Fund, ensuring transparency, efficiency, and targeted use, with enhanced monitoring of resource utilization.
The State Bank of Vietnam will direct credit institutions to expedite lending for social and rental housing, ensuring proper allocation and compliance. Challenges in disbursing the 145 trillion VND social housing credit package will be addressed.
The Bank will also implement effective credit policies, as directed in Telegraphic Order No. 190 (October 7, 2025), focusing on proactive monetary policy, real estate credit control, and channeling funds into affordable housing and productive activities, aiming for double-digit growth.
Commercial banks will be guided to reduce costs, enhance digital transformation, and lower compliance expenses, ultimately reducing lending rates for social housing and promoting a healthy, stable, and sustainable real estate market.
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Prime Minister: Ensuring Equal Access to Housing for Every Citizen
At the conclusion of the morning session on January 13th, Prime Minister Phạm Minh Chính emphasized that housing is a critical social welfare issue and a fundamental right of every citizen. He underscored the goal of ensuring social progress and equality, guaranteeing equal access to housing for all, leaving no one behind. This must be achieved in a manner aligned with the real income levels of citizens, the country’s development, and market dynamics. The focus is on increasing housing supply across all segments, particularly social housing and rental options, to reduce commercial housing prices. Additionally, mechanisms and policies will be developed to support housing for middle-income earners (those earning above 20 million VND per month).
