At the government meeting on 4/3, Prime Minister Pham Minh Chinh requested the Ministry of Construction to continue implementing solutions to develop a safe, healthy real estate market and stabilize construction material prices.

He tasked the agency with researching an increase in the income limit for social housing buyers to 25-27 million dong per month. This level is 25-35% higher than the 20 million dong per month ceiling applied since 10/2025.

Individuals eligible to purchase this type of housing include low-income individuals in urban areas, cadres, civil servants, public employees, and single individuals.

Prime Minister Pham Minh Chinh speaking at the meeting on 4/3. *Photo: VGP*

In reality, middle-income individuals earning above 20 million dong per month do not meet the conditions to buy social housing. However, they also cannot afford to buy housing at current price levels, especially in large urban areas.

According to the Vietnam Association of Real Estate Brokers (VARS), last year the country saw over 128,000 new products, an 88% increase compared to 2024, primarily high-end apartments. Apartments priced over 100 million dong per square meter accounted for 25% of new supply. In Hanoi, the average price reached 100 million dong per square meter, an increase of 40%. In Ho Chi Minh City, each apartment square meter cost about 110 million dong, an increase of 23%.

Vietnam aims to implement a project to invest in at least one million social housing units. Currently, 220 projects have been started and are underway nationwide, with a scale of nearly 215,000 units, expected to reach 135% of the annual target. Cumulatively to date, 737 social housing projects are underway across the country, totaling 701,347 units, equivalent to over 70% of the target for the One Million Apartment Project by 2030. The Ministry of Construction stated that the goal of one million social housing units could be completed two years early.

Despite positive improvements in supply, social housing sale prices tend to increase sharply. Three years ago, the initial sale price per square meter for this type of housing was below 20 million dong. Now, Hanoi consistently sees prices of 20-29,4 million dong. This situation is spreading in several localities such as Hung Yen, Hai Phong, Thanh Hoa.

Experts recommend that management agencies establish strict mechanisms related to construction cost calculation to avoid significant price discrepancies between localities. This aims to ensure transparency and fairness for policy beneficiaries.

Additionally, a direct factor in cooling down housing prices is investment procedures. According to experts, if the time to complete procedures is shortened and simplified, businesses will be more proactive in project implementation, helping boost supply and increase market competition.

Phuong Dung