In response to the sharp increase in construction material prices, the Ministry of Construction has been continuously monitoring the market and implementing various solutions to stabilize supply and demand, control construction investment costs, and mitigate the impact on the economy.
Material prices have risen sharply.
Market realities show that, after a relatively stable period in 2025 and the first two months of 2026, construction material prices "jumped" from March due to fluctuations in fuel prices, especially diesel prices.
In Hanoi, many people planning to build houses have been forced to postpone their projects. Mr. Nguyen Van Hung, from Hoang Mai ward, shared that rapidly increasing construction costs have prevented his family from starting construction as planned. Similarly, Ms. Tran Thi Huong from Dong Anh commune said she had to delay her house construction plans because the price of building materials far exceeded the initial estimate. Specifically, the price of construction stone has increased from approximately 350.000 VND/m3 to about 670.000 VND/m3. Construction sand has increased from 350.000 VND/m3 to about 440.000 VND/m3. Steel and many finishing materials such as paint, wood, and plastic have also increased by 5-15% depending on the type.
According to the Ministry of Construction, as of March 31, 2026, cement prices increased by more than 7%, steel by more than 2%, and paving bricks by nearly 5%. Notably, materials such as sand, stone, and building bricks increased from 13,5% to 23,3%. Asphalt prices, in particular, surged by nearly 32%.
Rising material and fuel prices have directly impacted construction investment costs. Estimated construction costs for projects have increased by 1,91% to 8,09% compared to February 2.2026. Transportation projects are the most affected, with an increase of up to 8,09%. With 44 key projects totaling approximately 569.000 billion VND in investment, and an outstanding value of around 267.000 billion VND, the pressure of increased costs is significant. Key transportation projects alone could see an additional cost increase of approximately 42.300 billion VND.
Multiple solutions to stabilize the market.
Discussing this issue, Ms. Ma Thi Luan, Deputy Chief of the Office of the Ministry of Construction, said that the Ministry has intensified monitoring of the construction materials market to ensure a balance between supply and demand, especially for materials serving key national projects.
In the second quarter of 2026, the Ministry continued to urge and closely coordinate with localities to promptly monitor price fluctuations and the supply of construction materials, thereby advising on solutions to stabilize the market and ensure a stable supply.
The Ministry of Construction is also closely monitoring the conflict in the Middle East – a factor that could significantly impact global oil prices. Based on this, the Ministry is coordinating with relevant agencies to assess the impact, propose response solutions, avoid supply chain disruptions, and stabilize the market.
Faced with rising costs, the Ministry requested localities to proactively balance resources, prioritize the completion of key infrastructure projects; and at the same time, strictly implement the publication and updating of construction material prices to closely reflect market conditions.
Local authorities need to strictly control the business activities of gasoline, diesel fuel, and construction materials, preventing hoarding, speculation, and price gouging; and control the output of mineral exploitation.
For investors and project management boards, the Ministry requires strict control over construction investment costs, proactive assessment of the impact of price fluctuations to effectively utilize contingency funds. At the same time, they should review contracts, especially lump-sum and fixed-price contracts, and coordinate with contractors to resolve any arising issues in accordance with regulations.
In addition, investors and contractors need to proactively assess the demand for construction materials, ensuring a continuous supply to serve construction and avoid disrupting project progress.
Given the forecast of continued increases in material prices, the synchronized implementation of solutions from state management to market participants is considered a key factor in controlling costs, stabilizing the construction market, and ensuring the progress of key projects.
Source: Labor Newspaper
