On the afternoon of May 25, in Hanoi, Politburo Member, Prime Minister Le Minh Hung chaired a meeting with leaders of ministries, branches and Hanoi City to implement the direction of General Secretary, President To Lam on rental housing in Hanoi City.
Concluding, the Prime Minister clearly stated that developing commercial housing in segments suitable for affordability and rental housing is a major policy of the Party and State, consistently affirmed through Directive No. 34-CT/TW of the Secretariat and recently Notice No. 64-TB/VPTW.
The head of the Government clearly stated that it is necessary to frankly identify existing problems and bottlenecks, especially the housing market which still has a serious mismatch between supply and demand; the product structure is leaning towards commercial housing and housing for sale, while the long-term rental housing segment with prices suitable for people's income is still very limited.
If we develop the rental housing segment well, it will spread to other segments, and the demand for home ownership will also decrease significantly," the Prime Minister said.
In particular, the State does not subsidize housing but also does not completely let the market self-regulate. The State plays a constructive role through institutions and policies, including land policies, planning and financial - credit tools for the market to develop healthily and transparently.
Resolutely and persistently thoroughly handle the situation of abandoned and inefficient public housing assets; prevent and combat waste associated with the responsibility of the head. At the same time, strictly and transparently control the beneficiaries of priority policies; resolutely prevent policy profiteering and housing speculation.
The Prime Minister requested Hanoi to prioritize piloting first, to be a pioneer, urgently review the entire land use planning, urban and rural planning and land funds, public housing funds that are being used ineffectively to have plans to arrange and develop rental housing models; report the results to the Prime Minister in June 2026.
The Prime Minister requested Hanoi to proactively review the needs, subjects, investment mechanisms for construction and deploy large-scale rental housing models, ensuring quality to meet the actual housing needs of people living and working in Hanoi, including cadres, civil servants, and public employees of central agencies.
Strive to start construction of a number of projects in June 2026; flexibly use social housing obligation revenue in cash in the direction of State investment and professional enterprise operation.
The Ministry of Construction coordinates with the Ministry of Finance and relevant agencies to review and propose mechanisms to allow businesses and cooperatives to buy back commercial housing and social housing with the sole purpose of leasing, to be completed in June 2026.
The Prime Minister requested the State Bank to take the lead in researching and proposing to the Prime Minister preferential credit policies for long-term rental housing project investors in the direction of stable interest rates, loan terms suitable for the project's capital recovery cycle; report to the Prime Minister in July 2026.
In necessary cases, the State Bank shall study a mechanism for refinancing commercial banks or a flexible mechanism for credit limits for commercial banks.
