Prime Minister Pham Minh Chinh has urged stronger measures to accelerate healthy development of the real estate market, with a particular focus on social housing, while chairing the second meeting of the Central Steering Committee for Housing Policy and the Real Estate Market in Hanoi on October 11.
PM Chinh stressed that commercial and social housing development must go hand in hand, supported by appropriate regulations and breakthrough solutions to expand social housing supply.
He assigned the Ministry of Construction to work with relevant ministries and agencies to complete the legal framework and promptly address obstacles hindering real estate development, including social housing.
Provinces and cities were instructed to plan and allocate land for social housing projects in a stable and sustainable manner, ensuring essential infrastructure and avoiding disruptions to existing plans.
Enterprises were also urged to streamline operations and cut unnecessary costs to make social housing more affordable and accessible.
The Prime Minister directed the State Bank of Vietnam to accelerate the disbursement of the VND145 trillion ($5.5 billion) credit package for social housing while maintaining strict oversight. He also called for tighter control of speculative real estate lending to prevent market bubbles.
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