Gov't chief demands strict punishment against real estate market speculation
VGP – Prime Minister Pham Minh Chinh demands strict punishment against real property speculation and manipulation in a bid to make housing affordable for all.
Prime Minister Pham Minh Chinh presides over a meeting with representatives of ministries, agencies, real property and banking associations to seek way to ensure safe, healthy and sustainable development of the real estate market, Ha Noi, May 24, 2025. Photo: VGP
Addressing a meeting on Saturday, the Government chief called on subbordinate levels to lift barriers to reduce costs and prices while increasing housing supply.
He tasked the Ministry of Finance to promptly mull over a tax policy on unused real estate and formulate a national housing development fund in June this year.
Local authorities were urged to ensure residents can have full access to property information, study to eliminate procedures on investment approval, and coordinate with ministries and agencies to develop resort real estate.
Pham also asked local authories to strive to complete social housing development targets, expeditiously build a database on land and housing, and form real estate trading floors./.
