The Vietnamese government, through the decisive pronouncements of Prime Minister Phạm Minh Chính, has underscored a critical and escalating challenge within the nation's real estate sector: the pervasive issue of unaffordable housing. At a meeting of the Central Steering Committee on Housing Policy and Real Estate Market on the afternoon of September 22, 2025, Prime Minister Chính delivered a stark and unequivocal assessment of the current situation, highlighting the profound disconnect between the housing needs of the populace and the exorbitant market prices. His remarks, characterized by a direct and resolute tone, signal a heightened governmental concern and a clear intent to address what he perceives as a fundamental societal and economic imbalance.

The Prime Minister's statement directly confronts the paradox of a population in need of housing yet unable to access it due to prohibitive costs. He articulated, "The people lack housing but cannot afford to buy homes. If houses cost 100 million VND/m², how can people afford to buy them? So many people need housing, but prices are too high… If real estate prices continue to be inflated, people will see prices rise higher and higher, too high, and they will not be able to buy homes" (Government of Vietnam, 2025). This powerful declaration encapsulates the core of the housing crisis, framing it not merely as an economic issue but as a matter of social equity and public welfare.

**The Core of the Crisis: Unaffordability and Market Distortion**

Prime Minister Chính's statement zeroes in on two critical dimensions of the housing crisis: the severe lack of affordability for the general populace and the underlying market dynamics that contribute to this problem. The specific figure of "100 million VND/m²" serves as a potent, albeit illustrative, benchmark for the extreme price levels observed in parts of the Vietnamese real estate market. While this figure may not represent a national average, its mention by the head of government at a high-level policy meeting indicates that such prices are not isolated anomalies but rather a significant concern impacting a substantial segment of the population. For context, 100 million Vietnamese Dong (VND) per square meter translates to approximately 4,000 USD/m² (at an approximate exchange rate of 25,000 VND to 1 USD). Such a price point places homeownership far beyond the reach of average-income households, particularly in urban centers where demand is highest and land values are most inflated.

The Prime Minister's rhetorical question, "how can people afford to buy them?" directly challenges the sustainability and fairness of the current market trajectory. It underscores the widening gap between income levels and housing costs, a phenomenon that, if left unchecked, can lead to significant social stratification and economic instability. The statement explicitly acknowledges that "so many people need housing," highlighting the fundamental human right to adequate shelter and the government's implicit responsibility to facilitate its access. This recognition moves the discussion beyond purely economic metrics to encompass the broader social implications of housing policy.

Furthermore, Prime Minister Chính directly implicates speculative activities as a primary driver of the escalating prices. The phrase "Nếu cứ thổi giá bất động sản lên" (If real estate prices continue to be inflated) points to deliberate actions by market participants to artificially drive up values, rather than prices being solely determined by genuine supply and demand dynamics. This "inflation" or "blowing up" of prices suggests a market susceptible to manipulation, where speculative investment, rather than fundamental housing needs, dictates pricing. Such a scenario creates a vicious cycle: as prices are inflated, genuine buyers are priced out, while speculators are incentivized to further inflate prices in anticipation of higher returns, leading to an unsustainable bubble. The Prime Minister's concern that "people will see prices rise higher and higher, too high, and they will not be able to buy homes" reflects an understanding of this psychological and economic feedback loop, where public perception of ever-increasing prices further fuels speculative behavior and exacerbates the affordability crisis.

**The Decisiveness of the Prime Minister and Governmental Intent**

The inclusion of "sự quyết liệt của Thủ tướng Chính phủ" (the decisiveness of the Prime Minister) in the query's title is highly significant. It frames Prime Minister Chính's remarks not merely as an observation but as a strong declaration of intent and a call to action. "Decisiveness" in this context implies a firm resolve to implement robust measures to rectify the current market distortions and ensure housing accessibility. It suggests that the government is prepared to move beyond rhetoric and engage in concrete policy interventions.

The setting of these remarks—a meeting of the Central Steering Committee on Housing Policy and Real Estate Market—further amplifies their importance. This committee is specifically tasked with formulating and overseeing policies related to housing and the real estate sector. The Prime Minister's direct address to this body indicates that the issue is being elevated to the highest levels of government and that a coordinated, multi-faceted approach is expected. His "decisiveness" is likely a directive to this committee and relevant ministries to accelerate the development and implementation of effective solutions.

This governmental resolve is crucial because the issues identified by the Prime Minister—unaffordability, speculative inflation, and unmet housing needs—are complex and deeply entrenched. Addressing them will require a comprehensive strategy that may include:

1.  **Supply-side Interventions:** Increasing the supply of affordable housing, particularly social housing and housing for low-income individuals. This could involve streamlining land allocation, providing incentives for developers to build affordable units, and investing in public housing projects.
2.  **Demand-side Support:** Implementing policies to help eligible buyers, such as preferential loan schemes, interest rate subsidies, or housing grants, especially for first-time homebuyers or those in critical need.
3.  **Regulatory Reforms:** Strengthening regulations to curb speculative activities, prevent price manipulation, and ensure market transparency. This might include stricter controls on real estate transactions, taxes on vacant properties or multiple home ownerships, and measures to prevent land hoarding.
4.  **Land Management:** Reforming land use planning and management to ensure efficient allocation of land resources for housing development, preventing artificial scarcity, and ensuring fair land valuations.
5.  **Financial Market Oversight:** Monitoring and regulating credit flows into the real estate sector to prevent excessive lending that could fuel speculative bubbles and pose risks to financial stability.

The Prime Minister's strong language suggests that the government is prepared to consider and implement a range of these measures, potentially even those that might be politically challenging or face resistance from vested interests within the real estate industry. His emphasis on the "people's" inability to buy homes positions the issue as a matter of public good, thereby legitimizing strong governmental intervention.

**Economic and Social Implications of Unaffordable Housing**

The Prime Minister's concerns are rooted in the profound economic and social implications of an overheated and unaffordable housing market. Economically, an inflated real estate sector can:

*   **Divert Investment:** Capital that could be invested in productive sectors of the economy (e.g., manufacturing, technology, agriculture) is instead channeled into real estate speculation, leading to an inefficient allocation of resources.
*   **Increase Household Debt:** As housing prices rise, households are forced to take on larger mortgages, increasing their debt burden and making them more vulnerable to economic shocks.
*   **Risk Financial Instability:** A real estate bubble, if it bursts, can trigger a financial crisis, impacting banks, investors, and the broader economy. The Prime Minister's warning against "inflating prices" suggests an awareness of this systemic risk.
*   **Reduce Labor Mobility:** High housing costs in urban centers can deter workers from moving to areas with better job opportunities, hindering economic growth and productivity.
*   **Exacerbate Inflation:** Rising housing costs contribute to the overall cost of living, potentially fueling broader inflationary pressures.

Socially, the consequences are equally severe:

*   **Increased Inequality:** Unaffordable housing disproportionately affects low- and middle-income households, widening the gap between the rich (who can afford to invest in real estate) and the poor (who struggle to find adequate shelter).
*   **Reduced Quality of Life:** People forced to spend a large portion of their income on housing may have less disposable income for education, healthcare, and other essential needs, impacting their overall well-being.
*   **Social Discontent:** A pervasive sense of injustice and frustration can arise when a basic need like housing becomes unattainable for many, potentially leading to social unrest or a decline in public trust in government.
*   **Demographic Challenges:** High housing costs can impact family formation and birth rates, as young couples may delay marriage or having children if they cannot afford a home.
*   **Urban Sprawl and Infrastructure Strain:** As people are priced out of central areas, they may move to peripheral regions, leading to unplanned urban sprawl and placing additional strain on transportation and public infrastructure.

Prime Minister Chính's statement, by directly linking high prices to the people's inability to buy homes, implicitly acknowledges these multifaceted challenges. His "decisiveness" can therefore be interpreted as a commitment to mitigating these risks and fostering a more equitable and stable society.

**The Path Forward: A Call for Comprehensive Action**

The Prime Minister's strong words on September 22, 2025, serve as a critical inflection point for Vietnam's housing policy. They represent a high-level acknowledgment of a severe and pressing issue that demands immediate and sustained attention. The challenge lies not only in identifying the problems but in implementing effective solutions that can navigate the complexities of market forces, developer interests, and the diverse needs of the population.

The government's approach will likely need to be multi-pronged, combining regulatory tightening with supply-side incentives and targeted support for those most in need. This could involve:

*   **Developing a robust social housing program:** This would entail significant public investment or incentives for private developers to build housing units specifically for low-income individuals and families, with clear eligibility criteria and transparent allocation mechanisms.
*   **Revising land laws and regulations:** To ensure that land is used efficiently and equitably, preventing hoarding and speculation, and facilitating the timely development of housing projects.
*   **Implementing progressive taxation:** Introducing taxes on multiple properties, vacant land, or speculative gains from real estate transactions could disincentivize speculation and generate revenue for affordable housing initiatives.
*   **Strengthening market oversight:** Enhancing the capacity of regulatory bodies to monitor real estate transactions, prevent fraudulent activities, and ensure compliance with pricing regulations.
*   **Promoting transparency:** Making real estate market data more accessible and transparent to the public can help inform buyers and reduce information asymmetry that speculators often exploit.

The Prime Minister's emphasis on the "decisiveness" of the government suggests that these measures, once formulated, will be pursued with vigor. The urgency conveyed in his statement indicates that the current situation is deemed unsustainable and requires a fundamental shift in policy direction. The goal, as implied by his remarks, is to reorient the real estate market towards serving the genuine housing needs of the population rather than solely functioning as a vehicle for speculative investment.

**Conclusion**

Prime Minister Phạm Minh Chính's forthright statement on September 22, 2025, regarding the exorbitant housing prices and the inability of the Vietnamese people to afford homes marks a pivotal moment in the nation's housing policy discourse. His direct condemnation of inflated prices, exemplified by the "100 million VND/m²" figure, and his explicit concern for the "people who lack housing but cannot afford to buy," underscore a profound societal and economic challenge. The Prime Minister's "decisiveness" indicates a strong governmental intent to implement significant measures to curb speculation, stabilize the market, and enhance housing accessibility for the general populace. This is not merely a statement of concern but a clear directive for action, underscoring the government's commitment to addressing a fundamental public need. The path forward will undoubtedly be complex, requiring a comprehensive and sustained effort across multiple policy fronts. However, the Prime Minister's unequivocal stance signals a renewed determination to ensure that housing, a basic human necessity, becomes genuinely accessible to all Vietnamese citizens, thereby fostering greater social equity and long-term economic stability.

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**References**

Government of Vietnam. (2025, September 22). *Prime Minister's remarks on high housing prices and real estate market*. [Vietnamese Government Portal](https://www.chinhphu.vn/thong-tin-chi-dao-dieu-hanh/gia-nha-cao-va-su-quyet-liet-cua-thu-tuong-chinh-phu-10225092200000000.htm)