The Ministry of Construction has proposed solutions in a draft resolution aimed at controlling and curbing real estate prices, currently under review by various ministries and sectors.
Specifically, the Ministry suggests establishing a Real Estate Transaction Center to ensure transparency in property transactions.
This center will serve as an electronic hub connecting relevant agencies and organizations involved in real estate transactions. Its functions include organizing, supervising, and authenticating transactions such as buying, selling, transferring, and lease-to-own agreements.
Regarding lending policies for homebuyers, the Ministry proposes capping loans for second homes at 50% of the property’s contract value (excluding social housing). For third or subsequent homes, the cap is set at 30%. These limits will take effect upon the resolution’s implementation.
Soaring property prices outpace income growth. Photo: Hồng Khanh |
The draft also addresses affordable commercial housing development. Provincial authorities are required to allocate at least 20% of planned commercial housing projects between 2026–2030 for affordable options, based on local needs.
These projects will benefit from special policies, including direct investor selection without bidding, land pricing based on official land value tables, and a capped 20% profit margin on total investment. Developers are exempt from allocating land for social housing within these projects, as per the 2023 Housing Law.
Buyers in these projects are prohibited from transferring purchase or lease agreements, as per real estate business regulations.
The Ministry emphasizes that the resolution aims to establish a legal framework to stabilize housing prices, making them affordable for the majority, particularly middle-income earners. The focus is on market transparency and curbing speculation.
Signs of Speculation and Price Manipulation
In major cities like Hanoi and Ho Chi Minh City, property prices have surged, far exceeding income growth.
According to a recent Ministry report, average apartment prices in Hanoi’s Q3/2025 ranged from VND 70–80 million/m², with luxury units reaching VND 150–300 million/m².
In Ho Chi Minh City, the average for the past nine months was VND 75 million/m², with premium units starting at VND 150 million/m².
For townhouses and villas in Hanoi, prices typically range from VND 100–200 million/m², exceeding VND 300 million/m² in prime locations.
In Ho Chi Minh City, prices range from VND 230–300 million/m², with top-tier properties surpassing VND 300 million/m² in developed areas.
The market is heavily skewed toward mid-to-high-end properties, neglecting affordable housing, especially for industrial workers and low-income earners in urban areas.
Despite annual increases, property prices remain disproportionate to average incomes, fueled by hoarding and speculation, exacerbating supply-demand imbalances.
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Prime Minister Urges Control Over High Property Prices At the September Government-Locality Conference (October 5), Prime Minister Phạm Minh Chính highlighted ongoing challenges in the real estate market, noting high property prices. He directed authorities to monitor market stability and implement measures to control housing and land prices. |
Hồng Khanh
– 18:21 07/10/2025
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