Prime Minister Pham Minh Chinh has instructed ministries and agencies to devise solutions to address difficulties and obstacles in order to accelerate the development of Vietnam’s housing and real estate market.

PM Chinh, who also serves as head of the Central Steering Committee on Housing Policy and the Real Estate Market, gave the directive while chairing the committee’s first session held in Hanoi on September 22 to review the sector’s performance over the first nine months of the year.

According to the committee, more than 1,000 commercial housing projects were recorded nationwide during the period, including 960 under construction, supplying nearly 149,000 apartments and over 249,000 detached houses.

In terms of social housing, 692 projects with over 633,000 units are planned. Of these, 165 projects, comprising more than 110,000 units, have been completed, fulfilling 59.6% of the 2025 target.

Real estate transactions totaled 430,000, similar to last year. The market showed signs of recovery but remains uneven, with condominium sales rising in major cities—mainly in the mid-range segment—while land plot transactions slowed.

A VND30 trillion ($1.13 billion) credit package under the Government’s Resolution 02/NQ-CP has engaged 17 commercial banks, with outstanding loans exceeding VND2.3 trillion ($86.7 million).