Ensuring healthy development of real estate market

The decision emphasises the view that the right to lawful housing is a fundamental right of citizens, while access to safe housing that is affordable is a measure of social progress, helping to create a foundation for stable and sustainable social development and strengthen public confidence. The state has housing development policies aimed at ensuring that everyone has a place to live.

Housing development orientations constitute an important component of urban and rural development strategies and planning, contributing to the safeguarding of social welfare, urban security, and rural security; improving labour productivity; and ensuring the healthy development of the real estate market.

A strong shift in housing policy thinking is required. Alongside housing for sale, priority should be given to developing rental housing, particularly apartment-for-rent models in major urban centres, industrial parks, economic zones, growth regions, and key economic corridors. Rental housing is identified as a strategic, long-term segment serving large numbers of people, especially workers, labourers, students, officials, civil servants, public employees, and members of the armed forces.

The state will play a facilitating role through the development of institutions, policies, and planning to ensure a healthy and transparent market, enabling businesses to participate in construction and operation with reasonable profits while allowing people access to stable, safe, and affordable housing.

Housing development must be considered in connection with the comprehensive improvement of institutions and policies, with an inter-sectoral, multi-level, and inter-regional approach linked to urban planning, land-use planning, industrial park development planning, public transport, the labour market, and population management.

Diverse resources should be mobilised, not limited to the state budget alone. Priority should be given to unlocking private capital and long-term funding from investment funds and credit institutions, while making effective use of state resources to guide and stimulate the market and create momentum for private-sector participation in investment and the development of rental housing.

The decision sets out nine specific tasks and solutions for ministries, ministerial-level agencies, and People’s Committees of centrally governed provinces and cities, with a view to strengthening leadership, direction, and the effective implementation of housing development tasks and solutions in the period ahead.