Prime Minister Phạm Minh Chính chairs the sixth meeting of the Central Steering Committee on Housing and Real Estate Market Policies on Thursday in Hà Nội. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính has called for fresh policies to boost housing supply and improve access for middle-income earners, as rising property prices put home ownership beyond the reach of many households ineligible for social housing.

Chairing the sixth meeting of the Central Steering Committee on Housing and Real Estate Market Policies on Thursday in Hà Nội, PM Chính urged ministries and agencies to explore solutions to expand housing options for middle-income earners while ensuring all citizens have equitable access to accommodation.

He tasked the Ministry of Construction and relevant bodies with drafting a pilot policy on affordable commercial housing aimed at middle-income buyers, with proposals to be submitted by March 2026.

The Government leader noted that low-income earners are currently defined as those earning under VNĐ20 million (US$790) per month, but said housing policy must also address the needs of people whose incomes exceed that threshold yet remain insufficient to secure suitable homes under market conditions.

“Everyone deserves equal, transparent and fair access to housing that fits their paycheck and matches the country's economic reality. Policies must strike a balance of interests among the State, citizens and developers,” he said, stressing that having a home is a fundamental right of every citizen.

The Prime Minister added that housing development must span a broad spectrum, from commercial projects to subsidised social housing. Regardless of category, infrastructure must be adequate, well connected, comprehensive and inclusive rather than selectively accessible.

Drastic action

A social housing project under construction in Quảng Trị Province. — VNA/VNS Nguyên Linh

PM Chính said at the meeting that the Government issued strong directives and policies last year to remove barriers and boost housing development, especially in the social housing segment.

However, fresh pressures are emerging, particularly among middle-income workers earning about VNĐ20 million a month who are increasingly being priced out of the market, he said.

He called for new policies to expand supply in the affordable commercial housing segment to meet rising demand from middle-income earners, who often do not qualify for social housing yet still face affordability constraints.

The focus should be on prioritising land allocation for reasonably priced commercial housing, accelerating land-use planning and promoting transit-oriented development to optimise land use and improve infrastructure efficiency, PM Chính said.

He also called for preferential loans and other credit incentives to support mid-range commercial projects and help citizens purchase homes.

“The ultimate goal is to ramp up supply across housing segments, drive prices down and make sure anyone who needs a house can get one fairly and openly, while stamping out the shady deals and negative practices,” the PM emphasised.

The PM ordered a review of real estate market developments, credit flows and disbursement of the VNĐ145 trillion social housing credit package, noting that only about 12.4 per cent had been disbursed so far.

“If funds are available but not disbursed, solutions must be found. Resources cannot remain unused,” he said.

He called for faster administrative reform and stronger oversight to prevent speculation and market manipulation, along with accelerated development of a national housing and real estate database.

PM Chính asked the Ministry of Construction to urgently finalise a proposal to establish a State-run real estate and land use rights trading centre to improve transparency and oversight in property transactions.

The State Bank of Vietnam must accelerate disbursement of social housing credit packages, including support for buyers under 35, while tightening controls on speculative real estate lending and prioritising credit for genuine housing demand, the PM said.

According to the Ministry of Construction, about 158,700 social housing units are targeted for completion this year. At present, 220 social housing projects with nearly 215,000 units are under construction, equivalent to 135 per cent of the 2026 target.

So far, 737 social housing projects comprising more than 700,000 units have been implemented, achieving around 70 per cent of the Government’s goal of building one million units by 2030. — VNS