Hanoi (VNA) – Prime Minister Pham Minh Chinh has ordered the Central Steering Committee for Housing and Real Estate Market Policies, along with local authorities, to explore ideas to expand housing options for middle-income earners and other social groups, all while ensuring every citizen has equal access to housing.
PM Chinh, who chairs the committee, made the call while presiding over its sixth session in Hanoi on February 26. It ran hybrid-style, linking up live with officials in 34 cities and provinces.
He stressed that having a home is a fundamental right for every citizen. Everyone deserves equal, transparent and fair access to housing that fits their paycheck and matches the country's economic reality. Policies must strike a balance of interests among the state, citizens and developers.
Housing development, he said, must cover a broad spectrum, from commercial projects to subsidised social units. No matter the type, relevant infrastructure must be adequate, connected, comprehensive and inclusive, rather than selectively accessible.
According to him, the Government issued strong directives and policies last year to break barriers and boost housing last year, especially in the social segment. As a result, over 100,000 social housing units were completed nationwide, putting Vietnam on pace to hit one million by 2028, two years ahead of the initial timeline. Still, fresh pressures are piling up, especially from middle-income workers earning roughly 20 million VND (about 770 USD) a month who are getting priced out.
Officials were tasked with deliberating policies to free up more land reserves for commercial projects that actually cost what middle-class buyers can afford, expedite land-use and construction planning, and push transit-oriented urban development (TOD) models to optimise land use and cut traffic jams.
He also demanded cheap loans and other credit breaks to get those mid-range commercial projects off the ground and help citizens finally buy their own place.
The ultimate goal is to ramp up supply across housing segments, drive prices down and make sure anyone who needs a house can get one fairly and openly, while stamping out the shady deals and negative practices, the PM said.
He urged fast action and told officials to roll out practical policies right now./.
