Wednesday, September 20 2017

VietNamNews

Ministry to submit real estate plan

Update: September, 16/2017 - 09:00

HÀ NỘI - The Ministry of Construction will submit a plan to the Prime Minister on promoting stable and healthy development of the local real estate market in this year’s fourth quarter.

This plan will assess the market situation, forecast medium-term development trends and propose solutions, mechanisms and policies to enhance sustainable development of the real estate market.

It is expected to remove difficulties in the market, and in particular lead to transparency.

Notably, under the Government’s policy, housing products for low and middle-income people will gradually meet demand. However, to ensure these goals, a financial solution is also very important and requires coordination among the relevant ministries.

Since the beginning of 2017, the real estate market has continued to maintain steady growth. Price, transaction volume and liquidity have been stable and inventory has continued to decrease, according to the plan. The structure of property products is continuously adjusted according to demand, while credit in the real estate sector has maintained healthy growth.

Especially, strong growth in the tourism and resort real estate market in some coastal areas such as Đà Nẵng, Nha Trang (Khánh Hòa), Phú Quốc (Kiên Giang) has attracted domestic and foreign investors.

At present, the ministry has enhanced inspection and supervision to implement regulations and collected data on housing and the real estate market nationwide.

The ministry has requested localities to prepare reports on implementing urban area projects, housing development projects and large-scale resort real estate projects. The localities must inspect the development of high-end real estate projects using a large area of land at some key locations. They must also strengthen inspection and supervision for implementing investment for the construction of administrative complexes in the localities.

However, people and businesses expect state agencies to build, manage and use information systems on housing and the real estate market. So far, the systems have not been completed, despite having a plan in place to develop them for many years. This affects the value of the report or forecasts on the real estate market published from the survey of consultancy units.

The information system on the real estate market is very important because state management agencies assess the market while businesses implement transactions based on the system. - VNS

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