Prime Minister Pham Minh Chinh: Why are apartment prices so high? Is there 'manipulation'?

On September 22, in Hanoi, Prime Minister Pham Minh Chinh, Head of the Central Steering Committee on housing policy and real estate market, chaired the Conference to announce the decision to reorganize the Steering Committee and the first meeting of the Steering Committee.

The conference is a strategic step to reaffirm the Government's determination to address remaining challenges in the real estate market, especially in the social housing sector.

The core role of housing in social security policy

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that housing development is not only an economic goal but also an important pillar of social security policy. According to the Prime Minister, the right to housing of citizens is a fundamental right and ensuring this right contributes to promoting progress, social equity and sustainable economic development.

The Prime Minister pointed out that in recent times, the Government has made significant efforts in restructuring the real estate market. The focus of these efforts is to increase the supply of social housing and affordable housing, targeting low-income, middle-income and disadvantaged groups. Thanks to this strong direction, the Steering Committee has advised the Government and the Prime Minister to issue 22 resolutions, 16 directives and many telegrams, creating positive changes for the market.

Remarkable achievements and remaining challenges

The results show that the real estate market has shown signs of recovery. This development not only contributes to improving the quality of urban areas and architectural infrastructure but also gradually improves the material and spiritual life of the people. Moreover, the recovery of the real estate market also creates a spillover effect, promoting many other production and service industries.

One of the highlights is the progress of the Project to develop 1 million social housing units in the 2021-2030 period. To date, 692 projects have been implemented nationwide with a total scale of 633,559 units. Of these, 165 projects have been completed, providing more than 110,000 apartments. In addition, 147 other projects are under construction and 380 projects have been approved for investment.

In particular, the Government completed 5 years and 4 months ahead of schedule the elimination of temporary and dilapidated houses nationwide, and supported the construction of 334,000 houses for meritorious people and poor households. This is an achievement of profound humanitarian significance.

However, the Prime Minister also frankly pointed out the remaining difficulties and problems. The real estate market in general and social housing development in particular still have many limitations, failing to meet all actual needs. The Prime Minister raised the question that needs to be clarified: "Why are apartment prices so high and remain high?", and at the same time requested to check and rectify the situation of hoarding, price hikes, and price inflation, causing market distortions.

To thoroughly resolve the above issues, the Prime Minister requested delegates to review and re-examine the implementation of assigned tasks. This is to clearly identify bottlenecks in institutions, resources and policy mechanisms, thereby proposing appropriate solutions. This conference is not only an opportunity to review what has been done but also an opportunity to re-orient the strategy, ensuring that the housing development goal will be implemented in the most effective way, bringing practical benefits to the people and contributing to the sustainable development of the country.

Prime Minister Pham Minh Chinh attends V Fest, VTV affirms its position after 55 years Tuyết Linh11:19:58 21/09/2025On the evening of September 20, the V Fest - Vietnam Today music festival organized by VTV at the National Exhibition Center took place grandly, with the participation and direction of Prime Minister Pham Minh Chinh.