Prime Minister Pham Minh Chinh chairs the second meeting on social housing development. Photo: VOV

At the second meeting of the Central Steering Committee on Housing Policy and Real Estate Market in Hanoi, the Prime Minister urged for urgent removal of bottlenecks and preventing institutional problems from affecting social housing development.

“One solution is to increase the supply of social housing and commercial housing at affordable prices. The second solution is to cut investment costs to lower product prices. The third is to adopt appropriate tax policies to prevent speculation, price inflation, and offering prices much higher than the market average."

"Credit policies must regulate, prioritize, and direct capital flows to social housing and those who need to buy social housing and commercial housing at suitable prices. Control the flow of money into the housing segment that is speculative and takes advantage of policies,” PM Chinh said. 

Prime Minister Pham Minh Chinh speaking at the meeting. Photo: VOV

According to a report from the Ministry of Construction, Vietnam will complete the construction of about 89,000 social housing units in 2025. It aims to build about 1 million social housing units by 2030.