On the afternoon of May 24, Politburo member and Prime Minister Pham Minh Chinh worked with ministries, branches, associations, banks, and enterprises on the real estate market situation.
According to the Ministry of Construction, in the first quarter of 2025, the number of commercial housing development projects increased compared to the fourth quarter of 2024 and compared to the same period.
The volume of real estate transactions for apartments, individual houses, and land all increased compared to the previous quarter. Of which, there were more than 33,000 successful transactions in apartments and individual houses, an increase of 32% compared to the fourth quarter of 2024, and more than 101,000 successful land transactions, an increase of more than 16%.
In general, in the first quarter of 2025, prices of real estate types continue to increase, but the increase rate of each type at each time, location, each area in each locality is different.
Regarding social housing development, the whole country has planned more than 1,300 locations with a scale of more than 9,700 hectares of land for social housing development.
However, at the conference, delegates assessed that real estate supply is still limited; there is still a shift in the real estate segment; the results of social housing implementation are still slow; many real estate projects are facing difficulties related to legal procedures on land, investment, bidding, auction, and construction.
In addition, difficulties and problems related to regulations on land prices; procedures for preparing for investment and implementing real estate projects in many localities are still slow; organizing land use rights auctions in some localities still have limitations.
Prime Minister Pham Minh Chinh requested to review and amend decrees and circulars in a concise form so that the real estate market can develop safely, healthily, sustainably, fairly, and in accordance with people's income. Improve housing for people, ensure people's right to housing, and achieve the goal of having a place to live for all people.
The Prime Minister also requested localities to review projects with legal problems, propose mechanisms for resolution; and plan for appropriate real estate development.
The head of the Government directed the Ministry of Construction to coordinate with localities to inspect and promptly resolve difficulties in real estate projects; study and integrate regulations on investment procedures into a decree.
At the same time, urgently build a housing database connecting a population database; develop the real estate market with many types and services in accordance with development laws and practices.
The Ministry of Agriculture and Environment shall preside with the Ministry of Finance to review regulations on land and procedures for land valuation, if necessary, it is necessary to amend current regulations.
The Ministry of Finance urgently studies and issues a policy to tax real estate for unused land and houses, the difference between land price and selling price; ensuring publicity, transparency, appropriateness, and not "squeezing".
The State Bank directs commercial banks to lend housing, contributing to credit growth; urges banks to participate in the VND120,000 billion lending program.
Prime Minister Pham Minh Chinh suggested that businesses proactively review and restructure the investment project portfolio, in accordance with social needs; review projects being implemented to ensure compliance; reduce prices, save costs to reduce housing prices, in the spirit of harmonious benefits and shared risks.
