In recent times, the Government and the National Assembly have accelerated efforts to improve the legal framework governing the real estate sector, laying a solid foundation for market development. A series of important directives and resolutions have been issued, most notably the amendments and supplements to four key laws: the Land Law, the Housing Law, the Law on Real Estate Business, and the Law on Credit Institutions. The system of decrees and guiding documents for implementation has also been introduced in a relatively comprehensive manner.
Most recently, Resolution No. 254/2025/QH15 (dated December 11, 2025), issued by the National Assembly, continued to remove bottlenecks related to land price determination, land acquisition, and compensation. In parallel, the project “Building at least one million social housing units for the period 2021–2030” has achieved impressive progress, with 698 projects involving 657,441 social housing units launched, and 102,633 units completed in 2025 alone. Social housing prices have remained stable at around 15–25 million VND per square meter, helping address housing needs for low-income groups.
Nevertheless, according to Deputy Minister of Construction Nguyen Van Sinh, the real estate market is still facing numerous complex challenges. The most prominent issue is the imbalance between supply and demand, marked by a severe shortage of affordable and social housing, while the high-end segment remains oversupplied. Real estate prices have risen sharply, climbing nearly 60% during the 2019–2024 period. In major urban centres such as Ha Noi and Ho Chi Minh City, apartment prices increased by more than 20–30% in the first 11 months of 2025 alone.
The main causes stem from legal obstacles, prolonged administrative procedures, rising input costs, and price manipulation and speculation. Overreliance on bank credit also poses significant risks, potentially leading to financial bubbles. In practice, implementation remains difficult due to a lack of synchronisation among localities and delays in decentralising authority.
In addition, the requirement for sustainable development has become increasingly evident amid pressures from climate change and rapid urbanisation. This demands that real estate projects integrate green, smart, and environmentally friendly elements. The deputy minister affirmed that, in the coming period, the Ministry of Construction will seek solutions to remove obstacles faced by stalled real estate projects nationwide, thereby supplementing market supply and unlocking resources for national economic development.
Dr. Can Van Luc, Chief Economist of BIDV and a member of the prime minister’s Policy Advisory Council, emphasised that the state needs to continue introducing specific measures to amend legal documents in a more open and flexible direction, strengthen transparent decentralisation to local authorities, and shorten administrative procedures. These efforts aim to thoroughly resolve bottlenecks related to planning, land, and land pricing - the key factors causing project delays. At the same time, capital sources should be diversified through the development of real estate investment funds and corporate bonds. Market information systems and high-tech real estate transaction centres also need further improvement.
According to economic experts, the establishment of a national housing fund, stricter regulation of social housing transactions, and a clear roadmap for completing the legal framework on land, construction, and investment are expected to significantly improve the real estate market in the medium and long term. In particular, the state should strengthen supervision and inspection of price fluctuations, strictly handle violations, and accelerate public investment in infrastructure to help balance supply and demand across regions.
