Social housing must be prioritised over commercial accommodation and be developed with complete accompanied infrastructure, according to the PM.

The new Land Law, the Law on Real Estate Business, and the Housing Law should ease bottlenecks in the sector, helping improve supply and transparency in Vietnam’s real estate market.

Prime Minister Pham Minh Chinh chaired a government meeting on the current development of social housing and housing for workers on March 16 morning from the capital city of Hanoi.

The capital city of Hanoi targets to build nearly 7 million sq.m of housing this year, in order to raise the per capita housing area to 28.2 sq.m.

Only 28 percent of industrial zone workers are provided with stable accommodation, while the rest have to rent houses with poor sanitation and infrastructure.

Lawmakers voiced their concerns about the high real estate prices which is about 25 times of average income, and the uncontrolled rising property prices in some localities during a question-and-answer session at the National Assembly on June 4.

Hanoi sets a target of developing additional 11 million sq.m of housing in 2018, including 430,000 sq.m of social housing, nearly 348,000 sq.m of resettlement housing and more than 2.1 million sq.m of commercial housing.