Real estate prices increase but do not reflect real value

(QNgTV)- Real estate prices have been increasing year by year but have not yet reflected their true value due to speculation and price increases, according to the Ministry of Construction.

Real estate in the East of Ho Chi Minh City. Photo: Quynh Tran

In a report on housing policy and the real estate market in the first nine months of the year, the Ministry of Construction said that selling prices in many segments remained high and tended to increase compared to the same period last year.

However, according to the Ministry of Construction, real estate prices have increased year by year but have not yet reflected their true value due to speculation and price increases, causing an imbalance in supply and demand and exceeding the affordability of the majority of people.

From now until the end of the year, the Ministry of Construction said it will continue to research and propose a pilot model of a State-managed real estate transaction center in large cities to increase transparency in transactions.

At the same time, it is recommended that the Ministry of Finance coordinate to complete the legal framework and procedures to establish the National Housing Fund.

This fund is expected to contribute to balancing supply and demand, adjusting the structure of real estate goods. This will reduce the price of commercial housing, helping the real estate market develop stably and healthily.

Source: https://quangngaitv.vn/bat-dong-san-tang-nhung-chua-phan-anh-dung-gia-tri-thuc-6507802.html