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

HÀ NỘI — The Ministry of Construction has proposed a series of solutions to address surging housing prices, noting a persistent shortage of housing projects that are affordable for the majority of residents.

According to the ministry, rising prices of real estate, housing and land projects stem from increasing investment costs, particularly land-use fees, slow project implementation that limits housing supply, as well as procedural and capital-related bottlenecks.

The ministry acknowledged that affordable housing and social housing projects remain insufficient to meet the needs of low-income earners.

Enforcement of laws on planning, land, housing, land-use right auctions and project bidding by local authorities in approving investment policies and implementing new housing projects has yet to meet social demand.

Compensation, support and resettlement work, along with land price determination in some localities, remains slow, a ministry leader said.

The ministry also pointed out that some localities have not paid adequate attention to social housing development, failing to effectively plan land funds, properly carry out compensation, support and resettlement, or invest in technical infrastructure to create cleared land for assigning investors to implement projects.

In addition, soaring real estate and housing prices have been exacerbated by the behaviour of some developers, investors and individual brokers who hoard properties, drive up prices, speculate and distort market information.

To control real estate prices and improve access to housing, especially social housing, the Ministry of Construction has proposed coordinating with the Ministry of Agriculture and Environment, the Ministry of Finance and relevant agencies to finalise a pilot scheme for a State-managed real estate and land-use rights trading centre.

The ministry, in coordination with relevant ministries and sectors, will continue to promote the implementation of policies on social housing development to boost market supply, including urgently rolling out a decree on the national housing fund and the Government’s resolution on breakthroughs in social housing development.

It will also continue to study affordable housing policies in order to propose provisions for inclusion in the amended Housing Law to be submitted in 2026.

Meanwhile, the State Bank of Vietnam will continue to review and assess credit regulations related to the real estate sector to propose appropriate credit regulatory measures in line with practical conditions. — VNS