Building Materials prices skyrocket
Ms. Hoang Hai (Nat Son commune, Phu Tho province) said that last year her family hired a house design consulting unit with a total estimated cost of about 1.6 billion VND. Construction is expected to start after Tet. However, due to being busy with work, she contacted the contractor again recently. The new price was reported to be more than 1.9 billion VND.
The cost is increasing too quickly, making the family very worried, not knowing whether to build immediately or wait longer" - Ms. Hai shared.
Reality recorded in many localities shows that many households have to adjust the scale of projects or temporarily suspend construction due to increased costs. In Son La, supply and demand fluctuations have caused the construction material market to increase from 10-23%, even some types have increased sharply.
Ms. Quang Thi Huong's family (Chieng An ward) is building a 2-story house with 1 attic with an area of about 150m2, saying that the total cost has increased by over 20% compared to the initial estimate of about 1.5 billion VND.
According to material dealers, from the beginning of 2026 to now, steel prices have been adjusted up many times. D10 CB300V striped steel is commonly priced at over 16,000 VND to nearly 17,000 VND/kg. Construction stones have increased by an additional 30,000-40,000 VND/m2. The increase is not too sudden each time but lasts continuously, causing difficulties in making estimates.
Notably, construction sand is falling into a local scarcity situation. In the Song Ma area, the price of concrete sand ranges from 260,000-320,000 VND/m2, but when transported to the center, it can be up to 580,000-680,000 VND/m2. In some areas such as Van Ho, Moc Chau, the price of sand transported from Nghe An is up to 900,000-920,000 VND/m2 due to high transportation costs and limited supply.
Other materials such as cement, bricks, and commercial concrete also simultaneously increased. Cement ranges from 1-2 million VND/ton; construction bricks from 1,700-2,130 VND/piece; grade 300 concrete about 1.5-1.7 million VND/m2.
A representative of a sand mining business explained that increased input costs forced selling prices to adjust. Market demand also shows signs of stagnation as many construction projects are slowing down.
Finding solutions to cool down construction material prices
Faced with this fluctuation, functional agencies have implemented many solutions to stabilize supply and control prices. Son La province has added 54 new mineral mines according to Resolution No. 620/NQ-HDND dated February 27, 2026, including quarries, sand, clay and filling soil, in order to increase supply to the market.
At the same time, specialized agencies promote the review and auction of exploitation rights, simplify licensing procedures, and encourage the use of alternative materials such as crushed sand, and take advantage of soil and rock from projects.
In Phu Tho, the Provincial People's Committee issued Official Dispatch No. 6267/UBND-CN4, requesting to strengthen inspection and supervision of compliance with the law on construction material prices. Provincial leaders emphasized not to let the situation of hoarding goods, speculation, inflating prices or spreading false information causing market disruption occur.
The Department of Construction is assigned to take the lead in reviewing material demand, advising on ensuring supply, prioritizing key projects and urgent civil works. At the same time, the announcement of material prices must be close to the actual market, updated promptly monthly or earlier if there are major fluctuations.
Investors are required to strictly control costs, review construction contracts, and proactively coordinate with contractors to handle arising issues, especially with fixed or package unit price contracts.
In the context of material prices still fluctuating, proactively adjusting plans and choosing the right construction time is becoming an urgent problem for both people and businesses. When supply is consolidated and management measures are effective, the market is expected to soon stabilize again, reducing cost pressure for construction activities.
