Government to step up reform of property market rules (Photo: VNA)Hanoi (VNA) – The government will havebreakthroughs in the reform of legal regulations and business investmentconditions for the domestic real estate market this year, according to experts.
Nguyen Manh Khoi, Deputy Director of theMinistry of Construction’s Department of Housing Management and Real EstateMarket, said at a recent seminar that the ministry is planning to submit adraft resolution on reforming administrative procedures to the government inthe second quarter of this year.
In the draft resolution, it’s expected to createmore favourable conditions for economic sectors, especially foreign-investedbusinesses, investment and business activities in the local property market byamending the Housing Law and Real Estate Business Law.
The ministry will complete specific informationon the local property market and identify problems in business activities,along with finding measures to solve them, Khoi said.
However, Le Hoang Chau, chairman of the HCM CityReal Estate Association, said the State should amend the Land Law, regulationson land use rights for lands of tourism resorts, Investment Law, Enterprise Lawand Bidding Law to have a transparent competitive environment.
He said real estate investors should be mostconcerned about the risk of supply and demand.
Earlier, Minister of Construction Pham Hong Hasaid in 2018, the ministry would implement a project on assessing thesituation, forecasting trends and proposing market solutions and managementpolicies to promote a stable and healthy development of the real estate market.
This is an important database to followdevelopments in the property market, propose solutions to promote thosedevelopments and enhance inspection and supervision to implement laws on housingand real estate market, Ha said.
The ministry will regularly engage in dialogueswith associations and businesses to deal timely with feedback and proposals ofenterprises and the public.
Nguyen Tran Nam, chairman of the Vietnam RealEstate Association (VNREA), said the domestic real estate market has had astable and healthy development.
In 2017, the number of real estate transactionsincreased sharply against 2016. Hanoi and HCM City had 64,263 successfultransactions, mainly including affordable and mid-level apartments, Nam said.
Property prices were generally stable. The pricerose by five percent for apartment and 10 percent for land.Meanwhile, the inventory of property products in 2017 continued to decline by17 percent year-on-year.
VNREA has urged the government to come up withsolutions to the existing problems of the property market, including land fundfor social houses and cheap commercial houses, as well as regulations for newkinds of real estate, such as condotel, officetel and village resorts. Thesesolutions are expected to create favourable conditions for an impressive growthof the property market this year, Nam said.-VNA
VNA
