These points were raised in the National Assembly’s resolution on supervising the implementation of policies and laws on managing the real estate market and developing social housing, which was passed on November 23.
The National Assembly requests the Government, ministries, and local authorities to take measures to diversify real estate market products, harmonizing supply and demand; increase the supply of low-cost real estate; meet housing needs and ensure social welfare.
“Take fundamental and long-term solutions to bring real estate prices back to their intrinsic value and prevent manipulation and the use of land-use right auctions to create price surges,” the resolution states.
Real estate in Thu Duc City, Ho Chi Minh City, October 2024. Photo: Quynh Tran
|
Competent authorities are requested to closely monitor the real estate market situation, strengthen analysis and forecasting to regulate and improve the market health, respecting market principles. They should also prevent the market from “overheating” or “freezing,” which could negatively impact the overall economic development.
The Government is tasked with studying and promulgating new laws to impose higher taxes on those using large land areas or owning multiple houses, as well as on those who leave land unused for an extended period. These measures aim to improve land management and utilization, redistribute income, and provide a stable and reasonable source of revenue for the state budget.
Ministries are assigned to develop and perfect the national database on asset registration, ensuring interconnectivity, sharing, and integration between registration systems of different specialized fields. The database should provide transparent and easily accessible information on the legal status of assets.
The Government is also urged to appropriately resolve and definitively handle stagnant real estate projects due to prolonged implementation. It should comprehensively assess the benefits, costs, and feasibility of solutions to unlock resources for the real estate market and boost socio-economic development. In these projects, the National Assembly emphasizes refraining from criminalizing economic and civil relations while not legitimizing any violations.
Son Ha
The Real Estate Reset: Unveiling the True Intrinsic Value of Properties
The Parliament calls for an increase in housing supply to match the income of the majority of the population, bringing real estate prices back to their intrinsic value. This move aims to prevent price manipulation and ensure housing affordability for the people.
The Savvy Investors: Seizing Opportunities in a Downturn
Domestic institutional investors today bought a net 729.7 billion VND, with a net purchase of 721.5 billion VND in matched orders. Individual investors also bought a net 873.8 billion VND.
The Sun Group’s Terraced Houses in Ha Nam Create a Buzz with Attractive Pricing and Sales Policies
With an average land price of just 25-30 million VND per square meter, the Kim Tien low-rise subdivision at Sun Urban City integrated with countless utilities has just been launched, meeting the expectations of Northern investors.
The Ultimate Guide to the Hoai Duc Land Auction: How High Will the Bidding Go?
After a lengthy 9-hour session, the final gavel fell on the auction of 32 land lots in Tien Yen, the famed ‘Land of Harmonious Melodies’, in Hoai Duc district. The top lot fetched an impressive 109 million VND per square meter, amounting to over 16 billion VND for the 148-square-meter plot. Even the lowest bid reached a respectable 79.3 million VND per square meter.
The Transformational Vision: Crafting a Metropolitan Masterpiece on 18ha of Redefined Land in Binh Dinh
On October 30th, the People’s Committee of Binh Dinh province approved the conversion of forest land for the An Quang Urban and Tourism project in Cat Khanh commune, Phu Cat district. The project, undertaken by An Quang Holdings JSC, encompasses a total area of 18.33 hectares, marking a significant step in the province’s development plans.
