Minister of Construction: House and land prices are higher than people’s incomes
During the questioning session at the National Assembly this afternoon (June 8), Minister of Construction Nguyen Thanh Nghi clarified issues related to the real estate market.
According to Mr. Nghi, in 2021 and the first quarter of 2022, the real estate market (real estate) still has many difficulties due to the impact of the epidemic, but has adapted and has gradually changed, showing signs of recovery and improvement. develop. Product absorption rate in most segments is high and there is almost no new real estate backlog; The rate of office vacancy, commercial space for rent is gradually decreasing…
But besides making positive contributions to the country’s economic development and ensuring social security, Mr. Nghi said that the real estate market is showing limitations and inadequacies, there are signs of instability. healthy.
Minister of Construction Nguyen Thanh Nghi clarifies issues related to the real estate market
Accordingly, the legal system related to land, investment, construction, real estate business… still has shortcomings that need to be revised to be consistent, such as: Regarding the form of project investor selection, there are using land; Regarding land price determination; Regarding the land use regime, regulations for new, mixed and multi-functional real estate types.
The structure of real estate products is not suitable. Commonly, the segments of mid- and high-end housing, tourism real estate have excess expression. Meanwhile, there is a sharp lack of social housing, housing for workers and affordable commercial housing for the target audience. low income, middle income.
Statistics show that, in the supply of social housing, housing for workers, so far, it has only reached 7.3 million m2 / 12.5 million m2 as planned. In which, housing for workers is 2.7 million m2, equivalent to 54,000 apartments. Social housing for urban low-income people is equivalent to 4.6 million m2 with 92,500 apartments.
“The whole country is currently implementing 339 social housing projects, but the implementation speed is very slow. In which, housing for workers is 7.6 million m2 with more than 152 thousand apartments and social housing for people. urban low-income is 10.96 million m2 with 219 thousand apartments,” Mr. Nghi informed.
Workers and low-income people find it difficult to access and create a place to live
The next shortcoming that Minister Nguyen Thanh Nghi pointed out was that real estate prices, especially houses and residential land, continued to increase and were higher than people’s incomes.
“This makes it more difficult for low-income workers in urban areas and industrial zones to access and create accommodation,” Nghi said.
Also according to the Minister of Construction, real estate trading floors operate unstable, with the effect of colluding with each other to “pick up goods”, “blow up prices”, causing virtual fever to disturb the market; Real estate brokerage activities are not well controlled. In addition, the operation of the real estate market still lacks publicity and transparency due to the lack of an information system, leading to exploitation, news dissemination and market disturbances.
According to Minister Nguyen Thanh Nghi, the current land price is higher than people’s income
The control of investment capital flows into the real estate sector is still not tight, there are potential risks, especially in the issuance of corporate bonds for real estate trading. There are still reflections from businesses about difficulties in accessing credit capital and raising capital through corporate bond issuance. There are no long-term and stable capital sources for the real estate market
“There are shortcomings and shortcomings in the management of construction planning, land use planning and real estate market in the localities; The control of investment capital flows into the real estate sector is still not tight, there are potential risks…” Mr. Nghi pointed out the inadequacies of the real estate market.
Preventing the division of plots, subdivision of plots for sale in contravention of regulations
To ensure the stable, healthy and efficient development of the real estate market, Minister Nguyen Thanh Nghi proposed to urgently organize the elaboration, appraisal and approval of urban and rural construction plannings, master plans and plans. use land and build housing development programs, housing development plans in the localities.
Strengthen the local state management of planning, construction, real estate market and land management in localities to take measures to manage and prevent the division of plots, subdivision of plots and sale of plots improperly according to regulations. regulations, not in accordance with the planning, not allowed to invest in infrastructure, not yet allowed to invest.
“Strengthening control over activities of real estate trading floors and real estate brokerage activities to promptly correct them”, the Minister of Construction proposed.
Along with that is to inspect, examine and strictly handle violations of the law in real estate business activities; handle acts of giving inaccurate information, causing disturbances, negatively affecting financial and real estate credit market activities.
The Minister of Construction proposed to prevent the division of plots, subdivision of plots for sale in contravention of regulations
Regarding capital for the market, Minister Nguyen Thanh Nghi proposed to control and restructure real estate credit to ensure proper use and avoid risks.
At the same time, continue to create favorable conditions for lending to the real estate sector in accordance with the law. Continue to lend to fully legal and effective projects. Prioritize lending to licensed commercial housing, social housing, and worker housing projects to create supply for the market.
“Strictly control the issuance of corporate bonds in real estate (especially individual bonds); To guide the implementation of bond issuance and capital mobilization activities on the stock market of real estate enterprises in accordance with regulations,” Mr. Nghi suggested.
In addition, according to Mr. Nghi, in the coming time, it is necessary to urgently study and perfect the legal system related to the field of real estate; Closely monitor the situation and developments of the real estate market to promptly take measures to stabilize and healthy the market when necessary; Review and supplement the planning, allocate enough land fund to develop social housing, housing for workers in accordance with regulations…
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