HCM CITY (VNS)– HCM City will tighten the operations of property traders to ensure violations are discovered in time, which should protect real estate investors and increase transparency in the market.
The city's Department of Construction said the city had 479 real estate trading companies that are allowed to operate active trading floors.
However, more than half of them have stopped their operations or relocated without informing their managing agencies. It also punished six investors and four real estate trading companies after investigations.
The city also plans to increase the punishment of investors who do not strictly adhere to construction regulations. — VNS