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Property trading floors to make monthly reports on sales transfers

Update: May, 04/2013 - 09:19

HA NOI (VNS)— Real-estate trading floors must report sales of houses and land-use-right transfers to the provincial and municipal departments of construction and the Ministry of Construction on the 25th day of every month. According to a draft circular from the ministry, the report must include transactions involving leased houses, apartments, offices and land in industrial zones.

Those who fail to comply will have their names publicised on ministry and real-estate trading floor websites. Those who break the rules twice will face suspension. If approved, the new system will take effect at the beginning of the third quarter of this year.-VNS

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