At the meeting, the Deputy Prime Minister identified the key challenges plaguing the market, including a serious mismatch between supply and demand and an irrational product structure. Many housing units remain unaffordable for the general public, while developers continue to face legal and financial constraints. “Robust and substantive interventions are required to bring stability and sustainability to the market”, he stated.

Deputy Prime Minister Tran Hong Ha chairs a high-level meeting on real estate market reforms.

Deputy Minister of Construction Nguyen Van Sinh echoed these concerns, noting that housing supply remains structurally imbalanced, with many projects stalled due to prolonged administrative procedures and a lack of capital. He added that the current pricing structure has created a burden for homebuyers, making it increasingly difficult for ordinary citizens to access housing.

Minister of Construction Tran Hong Minh emphasized that transparency must be a cornerstone of the solution. He proposed that the entire real estate development cycle—ranging from urban planning, land valuation, construction costs, and taxes to final sale prices—must be made transparent and accountable. Local governments, he noted, should disclose land funds for different types of housing and develop real estate trading platforms under state supervision to ensure openness and oversight.

Minister of Construction Tran Hong Minh delivers remarks during the meeting on housing and real estate solutions.

In response, Deputy Prime Minister Ha directed the Ministries of Construction, Finance, Agriculture and Rural Development, and Natural Resources and Environment to coordinate closely in reviewing all procedures related to housing development. This includes planning, investment approvals, land pricing, design, permitting, and credit allocation—particularly for social housing projects. He stressed that each ministry must assume clear responsibility to prevent delays and blame-shifting.

The Deputy Prime Minister also tasked the Ministry of Construction and the Ministry of Finance with simplifying investment and construction procedures, identifying regulatory obstacles, and proposing legal reforms where needed. He urged the development of a national housing and real estate database to monitor market conditions and forecast supply-demand imbalances or abnormal price hikes.

To improve access to affordable housing, the Deputy Prime Minister called for standardized design templates for social housing and proposed consolidating approvals into a single construction permit to streamline administrative processes.

“The government is committed to removing barriers and improving transparency to promote a healthier, more balanced real estate market that better serves the people”, Deputy Prime Minister Ha concluded.