There is a phenomenon of real estate floors colluding with each other to ’embrace goods’, ‘make prices’

7 hot issues in the real estate market

Information on housing and real estate market in the first quarter of 2022, the Ministry of Construction pointed out a series of outstanding problems.

The firstthe formulation and approval of housing development programs and plans by localities as the basis for implementing housing projects in accordance with the Law on Housing is still slow and has not met the requirements as prescribed.

Second, Currently, the real estate market is lacking in supply in all segments. The number of commercial and social housing projects licensed to build, complete and put into use is limited and tends to decrease.

There is a phenomenon of real estate floors colluding with each other to hug goods and make prices - Photo 1.

The Ministry of Construction said that in the past time, there has been a phenomenon of real estate trading floors colluding with each other to “embrace goods”, “make prices”, “create waves”, “blow prices”, causing a “virtual fever” to eat the difference between them. real estate market turmoil… Illustration.

Tuesday, housing prices, residential land increased higher than people’s income. In big cities like Hanoi and Ho Chi Minh City. There are almost no apartments in Ho Chi Minh City under 25 million VND/m2.

Wednesday, The phenomenon of auctioning land use rights in some localities shows unusual signs, auctioning high prices and then dropping stakes has had a negative impact on the real estate market such as: creating high land prices, increasing real estate prices, neighboring housing compared to the actual market; affecting the environment calling for investment and the recovery, compensation, project implementation of the localities…

Thursday, issue of corporate bonds, especially real estate bonds recently, has not yet complied with the provisions of the law, potentially posing many risks to the real estate market.

Friday, the division of plots, subdivision of plots for sale in some localities have not been in accordance with the provisions of law. This situation affects the construction order, adversely affects the face of urban areas and residential areas of localities such as: spontaneous construction investment, not consistent with the planning, not ensuring the synchronization on technical infrastructure, social infrastructure; creating opportunities for speculation, pushing up real estate prices to profit, … affecting the real estate market.

Saturday, The operation of real estate trading floors has not yet ensured the good management of real estate transactions, prevention of money laundering in the real estate sector; The real estate brokerage service business has not been well controlled. There is a phenomenon of real estate trading floors colluding with each other to “hug goods”, “make prices”, “create waves”, “blow prices”, causing “virtual fever” to eat the difference, disturbing the real estate market..

Don’t let market turbulence

From the above fact, the Ministry of Construction proposed the relevant ministries and branches according to their assigned functions and tasks to implement a number of solutions.

In which, it is proposed to submit to the National Assembly for comments and approval of the Law on Land (amended) to create a legal basis for business activities of land use rights; The Law on Housing (amended), the Law on Real Estate Business (amended) to create a legal framework for real estate business activities, and enhance the efficiency of real estate market management.

There is a phenomenon of real estate floors colluding with each other to hug goods and make prices - Photo 2.
The Ministry of Construction requested to correct the behavior of exchanging hands many times, “blowing prices” causing disturbances in information on the real estate market.

It is recommended that ministries and branches continue to study and submit to competent agencies for promulgation or promulgate according to their competence mechanisms, policies and laws on investment, planning, construction, land, tax, credit, real estate business … to strengthen management, remove difficulties, create favorable conditions for the development of the real estate market.

Research, review and amend current legal provisions related to the auction of land use rights (law on auction, law on land, law on tax administration) to ensure consistency. and appropriate to the actual local situation.

Research on amending Decree 153/2020/ND-CP dated December 31, 2020 of the Government on the offering and trading of corporate bonds in the domestic market and the offering of corporate bonds to the international market.

Closely monitor the developments of the corporate bond issuance market in the real estate sector in order to promptly control and adjust policies so that the real estate market develops in a stable and healthy manner, contributing to the overall stability of the whole economy. economic.

Strictly monitor and control credit for the real estate sector to avoid double risks and prevent the use of capital sources for production and consumption loans for real estate investment and business.

In addition, the Ministry also suggested localities to implement the Government’s policy and direction on strengthening decentralization and decentralization of powers to localities, and asked localities to urgently organize the elaboration, appraisal and approval of regulations. urban and rural construction planning, master plan, land use plan. Review and supplement urban planning and industrial zone planning, ensure that sufficient land is reserved for the development of social housing and worker housing, and strictly comply with regulations on setting aside 20% of the residential land fund. has invested in technical infrastructure in commercial housing projects and urban areas for investment and development of social housing in accordance with the housing law.

Publicize and transparently disclose information about construction planning, list, implementation progress of infrastructure development projects, real estate projects, especially large projects and mergers and acquisitions. , upgrading local administrative units, preventing spreading rumors and speculation to push prices up for illegal profiteering.

Expeditiously develop and approve local housing development programs and plans for the period 2022-2025 and period 2022-2030 to have a basis for approving investment policies, selecting investors and formulating and approving approve the implementation of housing development projects in the area.

Focus on reviewing and removing procedural obstacles to complete investment preparation procedures, select investors to implement real estate projects, commercial housing projects, and social housing projects in accordance with the law. Law on land, law on housing, law on investment to increase the supply of housing, promote the development of the real estate market in the area.

Focusing on implementing the Government’s Resolution No. 11/NQ-CP on the Socio-Economic Development and Recovery Program, including making a list of projects, reviewing the land fund, and legal procedures to implementing projects on social housing, housing for industrial park workers, renovating and rebuilding old apartment buildings in the area.

Monitor and capture information, market developments and take timely handling measures to stabilize the market, preventing price fever and real estate bubbles in the area.

To take measures to manage and prevent the illegal division of plots, “subdivision of plots, sale of plots” in areas without planning, not yet permitted for investment, lacking in infrastructure system; review the organization of auction of land use rights in the area to ensure compliance with the law, publicity and transparency; strengthen control over the operation of real estate trading floors, organizations and individuals practicing real estate brokerage; correct the behavior of buying and selling changing hands many times, “blowing prices” causing disturbances in real estate market information.

Directing to solve difficulties and problems and speeding up the issuance of certificates of land use rights and house ownership rights for people in eligible housing projects and new urban areas, avoiding questions problems, lengthy complaints.

Promote law dissemination, strengthen management, supervision, inspection and inspection, and strictly handle cases of violations of the law on real estate business, land and legal laws. construction law and relevant laws (if any), especially activities: unauthorized and illegal construction; investing in infrastructure, dividing plots or subdivisions not in accordance with the planning; advertising, brokering “ghost projects”, violations in the auction of land use rights… causing market disturbances.

According to Ninh Phan

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