Material prices rise sharply
Market reality shows that after a relatively stable period in 2025 and the first two months of 2026, construction material prices have "jumped" since March due to fluctuations in gasoline and oil prices, especially diesel prices.
Recorded in Hanoi, many people planning to build houses have to postpone it. Mr. Nguyen Van Hung, Hoang Mai ward, shared that the rapid increase in construction costs has prevented his family from starting construction as planned. Similarly, Ms. Tran Thi Huong, Dong Anh commune, said that she had to postpone her house construction plan because the price of materials far exceeded the initial estimate. Specifically, the price of construction stone from about 350,000 VND/m3 has increased to about 670,000 VND/m3. Construction sand has increased from 350,000 VND/m3 to about 440,000 VND/m3. Steel and many finishing materials such as paint, wood, and plastic have also increased by 5-15% depending on the type.
According to the Ministry of Construction, as of March 31, 2026, cement prices increased by more than 7%, steel increased by more than 2%, and tiles increased by nearly 5%. Notably, materials such as sand, stone, and brick increased from 13.5% to 23.3%. Asphalt alone increased sharply by nearly 32%.
The increase in material and fuel prices has directly affected construction investment costs. It is estimated that the construction estimates of projects increased from 1.91% to 8.09% compared to February 2026. Among them, transport projects are the most affected, with an increase of up to 8.09%. With 44 key projects with a total investment of about 569,000 billion VND, the unconstructed value is still about 267,000 billion VND, the pressure of increased costs is very large. Separately, key transport projects may increase costs by about 42,300 billion VND.
Many market stabilization solutions
Discussing this issue, Ms. Ma Thi Luan - Deputy Chief of Office of the Ministry of Construction - said that the Ministry has strengthened monitoring the developments of the construction material market, ensuring supply and demand balance, especially for materials serving key national projects.
In the second quarter of 2026, the Ministry will continue to urge and closely coordinate with localities to promptly grasp price fluctuations and the supply of construction materials, thereby advising on market stabilization solutions to ensure stable supply.
The Ministry of Construction is also closely monitoring the war situation in the Middle East - a factor that could strongly impact global gasoline and oil prices. On that basis, the Ministry coordinates with relevant agencies to assess the impact, propose response solutions, avoid supply chain breakdowns and stabilize the market.
Faced with the pressure of increased costs, the Ministry proposed that localities proactively balance resources, prioritize completing key infrastructure projects; and at the same time strictly implement the announcement and updating of construction material prices close to the market.
Localities need to strictly control the business of gasoline and construction materials, not to let hoarding, speculation, and price inflation occur; control mineral exploitation output.
For investors and project management boards, the Ministry requests to strictly control construction investment costs, proactively assess the impact of price fluctuations to effectively use contingency costs. At the same time, review contracts, especially package contracts and fixed unit prices, and coordinate with contractors to handle arising problems in accordance with regulations.
In addition, investors and contractors need to proactively assess the demand for construction materials, ensure continuous supply for construction, and not interrupt project progress.
In the context that material prices are forecast to continue to increase, the synchronous implementation of solutions from state management to market participants is considered a key factor to control costs, stabilize the construction market and ensure the progress of key projects.
