Positive signals of the market
In the first 9 months of 2025, the real estate market recorded some signs of recovery thanks to efforts to remove institutional and policy obstacles. Trading increased in the first 6 months of the year, but then slowed down in some areas due to observation psychology and market expectations.
The social housing segment has had positive policy changes, but the scale of implementation is still limited.
Some localities have actively developed and formed model urban areas with synchronous infrastructure and functions, contributing to improving the quality of urban development.
Typically, Hanoi has Vinhomes Global Gate (Co Loa); Da Nang has Thuan Phuoc project; Ho Chi Minh City has Thu Thiem, Binh Quoi - Thanh Da area project; Hung Yen has My Hao Garden City project, urban area north of National Highway 5.
Not fully paying attention to affordable commercial housing
According to the Ministry of Construction, the market still has many limitations. Many localities have not closely followed approved housing development programs and plans, leading to a lack of initiative in managing product structure and land funds, and have not paid full attention to developing affordable commercial housing and social housing for middle- and low-income people.
The supply of housing products is mainly in the high-end and mid-range segments, while there is a lack of housing for industrial park workers, social housing and affordable housing suitable for the majority of urban residents.
According to the Ministry of Construction, although the related legal system has been amended and supplemented, there are still problems, especially in the fields of land, bidding, investment policy approval, investor selection, causing difficulties in the implementation of many projects.
The organization of the implementation of laws on planning, land, housing, auction of land use rights, project bidding... by localities is still slow and has not met requirements.
Compensation, support and resettlement work is also slow, determining land prices is still difficult, partly due to the fear of making mistakes and taking responsibility of some departments and localities, leading to slow settlement, pushing, and not being able to make decisions.
Some projects have encountered legal problems, are slow to implement, and are stalled, while resources have been invested in a large amount, causing waste of land, capital and increasing product prices.
In addition, the Ministry of Construction also stated that real estate transaction prices tend to increase gradually, do not accurately reflect the real value and are still high compared to the average income of the majority of people. The phenomenon of hoarding, price raising, and speculation still occurs, increasing the price level, causing an imbalance between supply and demand and beyond the affordability of middle- and low-income people in urban areas.
In addition, businesses still face many difficulties in credit capital, bond issuance and payment, as well as in sales, leading to a lack of resources to implement the project.
In response to the above shortcomings, the Ministry of Construction has set out a number of key tasks and solutions such as continuing to review and perfect institutions, policies and laws on housing, real estate business, land, planning, investment, construction, bidding, credit, tax, notarization, enterprises... to ensure consistency, unity and create a breakthrough, open, and convenient mechanism to attract resources to participate in the market. At the same time, promote the approval and implementation of housing projects, especially social housing to increase supply.
According to the Ministry of Construction, it is necessary to set a goal of completing social housing development targets in 2025, focusing on removing obstacles in planning, compensation, site clearance, land allocation and lease to soon put real estate projects into operation. Market management will be strengthened, ensuring close monitoring, timely issuance of solutions and mechanisms for the market to develop stably, healthily, publicly and transparently from the central to local levels. In addition, the Ministry will complete mechanisms and policies to mobilize diverse financial resources, ensuring capital to implement housing and real estate projects in the coming time.
