Addressing a meeting in Hanoi on May 24,  Prime Minister Pham Minh Chinh demanded strict punishment against real property speculation and manipulation in a bid to make housing affordable for all, according to a report from the Government News.

The PM called on subordinate 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.

The PM also asked local authorities to strive to complete social housing development targets, expeditiously build a database on land and housing, and form real estate trading floors.