“Proposed Establishment of a State-Run Real Estate Trading Center”

Speaking at the festival, Mrs. Tong Thi Hong Hanh, Director of the Housing and Real Estate Market Management Department, Ministry of Construction, expressed her concerns about the development of the real estate brokerage profession and the operations of real estate exchanges.

According to Mrs. Hanh, there are two core issues at hand: How can real estate brokerage and exchange activities be sustainably and safely developed? And how can we ensure the legal transparency of real estate products put up for business?

In the process of institutional reform, especially with the 2023 Law on Real Estate Trading, real estate brokerage has officially been established as an important profession with a clear legal status in the economy. If, in the past, the role of brokers was mainly to connect buyers and sellers, now, according to Mrs. Hanh, this team also assumes a greater mission: to become a bridge between the market and state management agencies, contributing to the process of information transparency.

“Through professional exchanges and a brokerage team equipped with full capacity, we can accurately reflect market developments while helping to control the legality of products put up for business,” said Mrs. Hanh.

Currently, the 2023 Law on Real Estate Trading gives clear rights and responsibilities to brokers and exchanges, including ensuring the legality of traded real estate and reporting to management agencies on compliance with requirements related to anti-money laundering. However, this also places a significant burden on the practitioners.

The representative of the Ministry of Construction stated that determining whether a real estate product meets the conditions for trading cannot rely solely on a single law but requires the synthesis of many regulations.

“Especially for real estate formed in the future, which does not yet have complete paperwork, controlling the legal conditions is even more difficult. This requires the State to play a leading role in connecting, sharing, and interconnecting data,” said Mrs. Hanh.

In the past time, the Ministry of Construction has closely coordinated with the Vietnam Real Estate Brokers Association to research and develop a number of mechanisms to support the profession, notably the project to establish a State-managed Real Estate Trading Center.

“We expect this center to control the transparency of supply sources, from when the real estate is established with sufficient conditions for trading, through the process of administrative procedure settlement and granting of ownership certificates. At the same time, the center will effectively connect private exchanges with state agencies, creating a positive impact on the entire trading ecosystem,” added Mrs. Hanh.

The Ministry of Construction is expected to submit this project to the Government on June 30, then report to the Politburo to request a direction to submit to the National Assembly for a resolution to pilot. If passed at the October 2025 National Assembly session, the center will officially take effect from January 1, 2026.

“This is an effort to create a more transparent, professional, and safer real estate market while ensuring that brokers and exchanges have sufficient legal tools to confidently practice their profession,” affirmed Mrs. Hanh.