Real estate prices have increased many times faster than people's incomes.

(Dan Tri Newspaper) - The recently passed resolution clearly outlines the problems of the real estate market, including the high increase in real estate prices and the situation where buyers of social housing are not eligible for policy benefits...

On the afternoon of November 23rd, with 421 out of 423 participating delegates voting in favor, the National Assembly passed a Resolution on the results of the thematic supervision of "The implementation of policies and laws on real estate market management and social housing development".

According to the Resolution, during the 2022-2023 period, the real estate market declined and supply decreased sharply compared to the previous period. In particular, real estate prices increased many times faster than the average income increase of the majority of the population.

The resolution states that a large number of residential real estate projects are facing obstacles, delays, slow implementation, and stagnation, causing waste of land and capital, increasing costs for investors, and raising product prices. In addition, tourism and accommodation real estate is almost "frozen," continuing to face legal difficulties.

Furthermore, during the period 2015-2023, the legal system regarding social housing lacked stability.

Some legal regulations on social housing development lack specific guidance; there are still conflicts and overlaps between legal documents, causing difficulties in implementation; the application of legal regulations is still complex, with different interpretations, requiring repeated guidance, especially regarding the application of transitional provisions.

Many targets for social housing development in the National Housing Development Strategy to 2020 and vision to 2030 have not been achieved.

The resolution states that the supply of social housing is limited, selling prices are high, and regulations regarding the conditions for accessing the policy are complex and difficult to implement.

Chairman of the Economic Committee Vu Hong Thanh (Photo: National Assembly).

State management of social housing still has limitations and shortcomings. The process of reviewing eligible beneficiaries and appraising the value of social housing is still lengthy, affecting people's access to social housing and the investment cycle, capital recovery, and bank interest payments of investors.

There are still cases where buyers, lease-to-own tenants, or renters of social housing are not eligible beneficiaries of the social housing policy, as stipulated in the Resolution.

Furthermore, the funding from the State budget for preferential social housing credit programs is still low; the loan procedures through the Social Policy Bank are still complex and overlapping...

Before the Resolution was voted on, the Chairman of the Economic Committee, Vu Hong Thanh, presented a report on the National Assembly's acceptance, explanation, and revision of the draft Resolution.

The Chairman of the Economic Committee stated that the current shortcomings and limitations of the real estate market, such as high prices, an unbalanced real estate product structure that does not match market demand, and numerous projects with violations, are partly the responsibility of both state management agencies and real estate businesses and project developers.

Therefore, the Standing Committee of the National Assembly reports to the National Assembly to retain the content as in the draft Resolution.

Source: https://dantri.com.vn/bat-dong-san/bat-dong-san-tang-gia-gap-nhieu-lan-so-voi-thu-nhap-cua-nguoi-dan-20241123145956389.htm