Attending the working session were Nguyễn Quang Hưng, Member of the Standing Board of the provincial Party Committee, Secretary of the Party Committee, and Chairman of the People’s Council of Điện Biên Phủ ward; leaders of the Party Committees and People’s Committees of Điện Biên Phủ and Mường Thanh wards; representatives of provincial departments and sectors; and several local real estate developers.

According to a report by the Department of Construction, since the beginning of the year, the real estate market in the province has maintained a modest transaction scale, consisting primarily of land plots and individual private houses. Transactions of project-based real estate products remain limited, and new supply is scarce.

Specifically, the entire province recorded 914 land plot transactions and 8 individual private housing transactions, with total transaction value exceeding VND 455 billion. Among these, only 6 transactions involved products within planned real estate projects.

Regarding real estate business projects in the two wards of Điện Biên Phủ and Mường Thanh, five investment projects for urban residential areas, social housing, and rental housing are currently underway.

Delegates analyzed objective and subjective factors leading to underperformance in the local property market, particularly bottlenecks in implementing housing and urban projects, notably site clearance, compensation support, and resettlement.

Furthermore, the overall market scale for real estate and rental housing remains small, while the purchasing power and payment capacity of local residents are limited. Prolonged capital payback periods and modest investment returns make the sector insufficiently attractive to businesses and investors. Additionally, the execution capacity of certain project developers remains constrained, and inter-agency coordination in site clearance has at times lacked decisiveness, impacting project deployment timelines.

Based on bottleneck analyses, delegates reached consensus on various solutions to drive the real estate market across Điện Biên Phủ and Mường Thanh wards toward safe, healthy, and sustainable development, creating added momentum for provincial economic growth.

The Department of Construction requested the Party Committees and People’s Committees of Điện Biên Phủ and Mường Thanh wards to proactively coordinate with relevant departments, sectors, and units to accelerate supervision, guidance, and assistance for investors in finalizing legal procedures, striving for early ground-breaking, execution, completion, and commissioning of property projects. Localities must proactively generate clean land funds - especially in prime locations - for land use right auctions, generating State budget revenues while expanding opportunities for residents and enterprises to invest, develop projects, and add growth momentum to the province.

Regarding credit resources, the State Bank of Việt Nam is urged to continue researching and deploying suitable interest rate policies, enabling residents and enterprises to access funding at reasonable costs.

Leaders of the Department of Construction assigned concrete tasks to specialized divisions, ensuring the proactive, complete, accurate, and transparent provision of information to facilitate access for citizens, enterprises, and investors, contributing to the healthy and effective development of the real estate market.