HCMC – Prime Minister Pham Minh Chinh has called for new policy to develop housing for middle-income earners, as demand rises among people earning around VND20 million per month.
The request was made at the sixth meeting of the Central Steering Committee on Housing Policy and Real Estate Market, chaired by the prime minister on February 26. The meeting reviewed progress since the previous session and discussed proposals to expand housing supply for middle-income groups.
The hybrid meeting was held at the Government headquarters and connected online with 34 provinces and cities. Opening the meeting, the PM said owning a home is a basic right and citizens should have equal and transparent access to homes suited to their income and the country’s socio-economic conditions.
He emphasized the need to develop diverse housing segments, including commercial and social housing, with adequate and synchronized infrastructure. Housing policy should ensure balanced benefits for the State, citizens, and businesses.
The Government has introduced measures to remove obstacles and promote housing development, particularly social housing. More than 100,000 social housing units have been completed nationwide. The Government aims to build one million social homes by 2028, two years ahead of the original schedule.
However, the PM said new challenges have emerged, especially the need for housing for middle-income earners.
Policy focus on land, planning, and credit
PM Chinh called on central agencies and local authorities to discuss solutions to increase the supply of affordable commercial housing for middle-income people.
Proposed measures include allocating more land for affordable commercial housing projects, accelerating land-use and urban planning, and prioritizing land resources for housing suited to middle-income buyers.
He also highlighted the importance of transit-oriented development (TOD) to optimize land use, reduce traffic congestion, and improve urban efficiency.
In addition, the Government is considering preferential credit policy for commercial housing projects that meet affordability needs.
The PM said the ultimate goal is to increase real estate supply across multiple segments, helping stabilize prices and ensure equitable housing access.
He urged authorities to act quickly to develop appropriate policies, emphasizing the need to avoid delays and respond promptly to emerging housing demands.
