Also attending were representatives of the Standing Committee of the Ethnic Council, the Economic Committee, the Law Committee, the Foreign Affairs Committee; representatives of the State Audit, the Government Inspectorate, the Ministry of Construction ... as members of the Supervisory Delegation.
On the side of Binh Thuan province, there were: Secretary of the Provincial Party Committee Nguyen Hoai Anh; Permanent Vice Chairman of the Provincial People's Committee Phan Van Dang; Vice Chairman of the Provincial People's Council Tieu Hong Phuc; representatives of leaders of departments, branches and real estate enterprises...
Reporting to the Supervisory Delegation, the representative of the Binh Thuan Provincial People's Committee said that in the past time, the province has directed all levels, sectors, localities and the business community to actively and diligently organize and implement legal regulations on real estate market management and social housing development to ensure the stable and healthy development of the real estate market, effectively solving the housing and land needs of the people, especially those with low incomes.
Real estate is an industry that creates many jobs both directly and indirectly from development, construction to distribution. Binh Thuan's real estate budget revenue has increased significantly since 2015, from 329 billion VND in 2015 to 1,832.3 billion VND in 2019 - the period before the Covid-19 pandemic. However, in 2021 and 2022, due to the severe impact of the pandemic, real estate budget revenue decreased, by 2023 it had dropped to only 811.4 billion VND.
Currently, in Binh Thuan, there are 5 social housing projects approved for investment. The construction of social housing is mainly in the form of apartment buildings. Only the Ham Kiem I Industrial Park Social Housing Area in Ham My Commune, Ham Thuan Nam District is built in the form of apartment buildings, combined with individual houses. All social housing projects in the area meet construction standards, regulations, and social housing area standards during the design and construction process.
The People's Committee of Binh Thuan province has also directed localities to guide organizations, households and individuals to register land for some unregistered plots. To date, almost all plots of land have been registered in the land registry according to regulations. The total number of certificates of land use rights, house ownership rights and other assets attached to land issued for the first time is 601 certificates; the number of certificates issued due to the transfer of land use rights, house ownership rights and other assets attached to land is 2,330 certificates.
Land price issues affect real estate market
According to the Report of the People's Committee of Binh Thuan province, the tourism real estate market is one of the market segments with rapid and strong growth in recent years and is forecasted to continue to develop vigorously in the coming time.
However, currently the law does not have clear regulations, the concepts of tourism real estate and tourism real estate products are not included in the provisions of the Housing Law, Real Estate Business Law, Construction Law, Investment Law, Land Law, etc., causing many difficulties for state management agencies in guiding the implementation of this type of real estate.
In fact, when surveying the Ocean Valley Tourism Project (NovaWorld) in Binh Thuan, the Supervisory Team found that this is a large project with a lot of potential for tourism development as well as contributing great value to the socio-economic development of Binh Thuan in particular and the whole country in general. The Ocean Valley Tourism Project (a project belonging to NovaLand Group) with a scale of nearly 1,000 hectares, has basically completed the infrastructure and has handed over more than 1,000 resort villas.
Director of Novaland Group Project Development Board Vo Thi Cao Ly shared: “Currently, the project is still continuing to implement the remaining construction items of the project, and is expected to complete the entire project by the end of 2025. However, the project is facing difficulties due to problems in determining land prices and changing the form of land lease according to the provisions of the law on land. This is also a common problem of many localities across the country over the past time.”
The implementation of land use planning and plans still lacks feasible solutions, such as: insufficient capital balance for infrastructure construction, compensation, and site clearance; difficulties and complications in compensation, support, and resettlement when the State reclaims land due to lack of consensus from the people, leading to the slow implementation of some projects according to planning and plans or not being implemented.
According to the People's Committee of Binh Thuan province, currently, the work of land use planning and construction planning is still slow; clean land and land funds have not been created to attract investment projects. The work of coordinating appraisal and supporting the implementation of procedures for approving investment policies for a number of projects has not been reviewed, appraised closely and fully, ensuring legal regulations. After approving investment policies, the Party Committees and authorities at all levels have not paid due attention, especially the implementation of procedures related to land, environment, construction, etc.
Some investors lack financial capacity, experience and land use fees during project implementation. Most projects with investment decisions are slow to progress, with implementation being slow, affecting the investment environment of the province.
The situation of organizations, individuals and enterprises violating legal regulations still occurs such as: advertising, selling, booking, holding, mobilizing capital not in accordance with legal regulations, causing disorder and disrupting the real estate market in the province..., causing difficulties in state management, potentially causing risks affecting the real estate market; affecting the rights and legitimate interests of customers, giving rise to many complaints, petitions and lawsuits.
In addition, the selling price of social housing is determined by the project investor based on the calculation of all costs to recover the investment capital for housing construction, loan interest (if any) and the standard profit of the entire project not exceeding 10% of the total investment cost; however, determining reasonable costs to determine the price is still difficult. The source of capital for investment and construction of social housing projects is still limited.
Speaking at the meeting, Deputy Head of the Khanh Hoa Provincial National Assembly Delegation Le Huu Tri suggested that Binh Thuan should point out the difficulties and obstacles in the implementation of the real estate and social housing markets. In particular, the new laws will come into effect on August 1, so what issues need to be added in the sub-law documents to contribute to the development of the local real estate market.
Concluding the meeting, Chairwoman of the Social Affairs Committee Nguyen Thuy Anh emphasized that the Supervisory Delegation will synthesize, record and fully reflect in a joint report to report to the National Assembly at the upcoming Eighth Session. Thereby, the Government and ministries, branches and localities will organize implementation, accelerate the removal of difficulties and obstacles in the implementation of policies and laws on real estate market management and social housing; unblock and sustainably develop the real estate market, ensure the goals and programs of social housing development as well as successfully complete the goal of building 1 million social housing apartments.
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