Proposed Government Resolution on Pilot Real Estate and Land Use Rights Trading Center: HoREA’s Feedback
The Ho Chi Minh City Real Estate Association (HoREA) has provided feedback on the draft Government Resolution regarding the pilot model of a State-established Real Estate and Land Use Rights Trading Center. HoREA commends the initiative for its potential to enhance management efficiency and promote transparency in real estate transactions.
However, HoREA notes that relying solely on a state-established center for transparency is insufficient. Other mechanisms, such as private real estate trading platforms and notarization services, should also be considered to ensure comprehensive transparency.
HoREA further expresses concern that the proposed pilot model may not align with existing conclusions and decrees from central authorities and the Government. Specifically, it may contradict the conclusions from the August 14, 2025, meeting of key leaders, as outlined in Directive No. 59-CV/BCĐ dated September 12, 2025. This directive emphasizes streamlining organizational structures to ensure efficiency, effectiveness, and avoidance of overlapping functions.
Additionally, the proposal appears inconsistent with Decree 118/2025/NĐ-CP, which mandates one-stop administrative procedures through the National Public Service Portal. HoREA warns that establishing a new trading center could lead to increased bureaucracy, budget strain, and functional overlap with existing agencies.
Given these concerns, HoREA suggests that establishing a State-run Real Estate and Land Use Rights Trading Center is not currently necessary. Instead, the association recommends drafting a Government Resolution requiring real estate developers to disclose comprehensive and accurate information about their projects before listing them for sale. This should include details on:
“completed housing, future housing, land plots with technical infrastructure within real estate projects, and land use rights coded and identified on the housing and real estate market information system, as per the Law on Real Estate Business.”
HoREA also advocates for stricter legal penalties against developers who fail to disclose accurate project information or list properties without meeting legal requirements.
Furthermore, HoREA urges the swift development of an amendment to the Law on Real Estate Business, in conjunction with related laws, to ensure coherence. This amended law should be submitted to the first session of the 16th National Assembly in April 2026, focusing on mechanisms to ensure transparent and healthy real estate business practices. Such measures will protect the rights and interests of consumers, developers, and other stakeholders while strengthening state management of the real estate market.
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