Prime Minister Pham Minh Chinh has issued an official dispatch directing ministries, agencies, and local authorities to take resolute action to increase housing and real estate supply, reduce prices, and stabilize the property market, according to a report from the Vietnam News Agency.

The dispatch, dated October 7, 2025,  noted that despite strong and timely measures having been taken, housing and real estate prices in several localities have surged continuously, beyond the affordability of most people. The problem is partly attributed to market information shortages, price gouging, limited supply of affordable commercial housing, and an insufficient number of social housing projects.

The Prime Minister instructed ministers, heads of ministry-level and government agencies, and chairpersons of provincial and municipal People’s Committees to improve institutions, policies, and laws related to housing, real estate, land, planning, investment, construction, credit, and taxation to ensure consistency. Administrative procedures should be further simplified, and power decentralization enhanced.

He also emphasized the need to review and adjust land use fee regulations to ensure fairness and prevent them from driving housing and land prices beyond people’s affordability.

The Minister of Construction was tasked with leading the review and revision of legal documents on housing, real estate business, urban and rural planning, and construction to promptly resolve emerging challenges and bottlenecks.

Meanwhile, the Minister of Agriculture and Environment was instructed to complete legal frameworks on land—particularly regarding planning, land use, allocation, leasing, and pricing—to remove obstacles and strengthen state control over land valuation and land use fee collection, ensuring they align with citizens’ real income levels.

The Prime Minister also requested the Governor of the State Bank of Vietnam to implement a flexible and effective monetary policy and strengthen supervision of credit flows into priority sectors, especially loans for developers and buyers of social housing, worker housing, and affordable commercial housing projects. He stressed the importance of strictly managing and assessing credit for high-end real estate projects or those showing signs of speculation and price manipulation.