Deputy Prime Minister Trịnh Đình Dũng asked the construction industry to tighten management towards to property developments to prevent imbalance in supply and demand which might trigger a market bubble.
It is necessary for housing developers, contractors, banks and State agencies to co-operate in disclosing information about real estate projects to avoid panicking buyers, experts have said.
Taking out mortgages for property projects is a normal practice among developers, and laws would protect the interests of buyers who have bought mortgaged property products, according to experts.
Recently the Hồ Chí Minh City Department of Natural Resources and Environment published a list of 77 apartment projects that have been registered as mortgaged at land registration offices.
The legal status and progress of properties would be made available to the public in order to reduce the risks for home buyers, according to an HCM City official.
Nearly 2,000 residents living in an apartment building in HCM City’s Tân Bình District are concerned about a bank’s plan to take back the property because of overdue loan payments from the building’s investor.