Prime Minister Pham Minh Chinh speaking at the Central Steering Committee on the Housing Policy and Real Estate Market's first session. Photo: VOV

PM Chinh, who is also head of the Central Steering Committee on the Housing Policy and Real Estate Market, chaired the committee’s first session in Hanoi on Monday.

He said that housing policy and the real estate market are important channels for mobilizing and allocating capital, with great spillover effects to other economic sectors, such as construction, finance, and materials. The Prime Minister emphasized social housing policy must ensure that people can buy and rent homes, and people’s right to settle down.

“Contributing to real estate supply and structure, especially the social housing segment for low- and middle-income earners, matters and cannot be left undone. We cannot be indifferent to the Party's very humane policy. Do not sacrifice social security to pursue mere growth. If the low-income segment can be done, it will pull other ecosystems to develop together.”

The program to develop 1 million social housing units in the 2021-2030 period is being underway. Vietnam is building more than 633,000 housing units, of which over 110,000 units have been completed.