DNVN - Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association emphasized that not only people but also businesses are "holding their breath" waiting for the trio of revised Land, Housing, and Real Estate Business Laws to be applied soon. Thereby, creating a "catalyst" to help clear the legal system and improve housing supply.
According to the Vietnam Association of Realtors (VARS), the 2024 Land Law has “centered on people”, protecting the maximum benefits for home buyers. In particular, regarding the new land price list, land prices are calculated according to market principles. Compensation and site clearance progress is accelerated and people benefit when their land is recovered.
At the same time, it limits the motivation for speculation, promotes the safe, healthy and sustainable development of the real estate market when transfer costs, taxes, etc. increase. Specific and transparent land valuation methods also help projects to be implemented smoothly, removing obstacles for suspended projects.
Thereby, promoting new supply into the market, creating conditions for investors to balance capital costs and reduce house prices. Supporting people's demand for buying houses.
The revised Land Law, Housing Law, and Real Estate Business Law are expected to create more favorable conditions for people and businesses.
Mr. Nguyen Van Dinh - Chairman of VARS emphasized that the amended and supplemented Land Law, Housing Law, and Real Estate Business Law will provide a clearer and more flexible legal framework. Once implemented, it will be a good opportunity for home buyers.
With new regulations, the rights and interests of home buyers are protected, with more options when supply is cleared. In particular, the policy of supporting social housing and expanding ownership rights related to foreigners, continues to create favorable conditions for people and investors in owning and trading real estate.
“From the actual developments, not only the people - the direct beneficiaries, but also businesses, are “holding their breath” waiting for the trio of revised Land, Housing, and Real Estate Business Laws to be applied soon. The early application aims to create a “catalyst” to help clear the legal system and improve housing supply,” Mr. Dinh emphasized.
VARS also believes that the new regulations of the Law on Real Estate Business will make the real estate business environment healthier and more transparent, in line with the Government 's policy. In particular, brokers must have a practice certificate and must operate in a real estate brokerage service business or a real estate trading floor.
Requiring real estate transactions to be conducted through the floor will increase transparency and limit risks in transactions for customers. In addition, according to the new regulations, investors and real estate businesses are required to make payments through banks, and real estate projects must disclose information before putting them into operation.
These regulations will be the foundation for building and digitizing project databases to publicly announce to all market members, avoiding information asymmetry and minimizing risks for home buyers.
Galaxy
Source: https://doanhnghiepvn.vn/kinh-te/chinh-sach/doanh-nghiep-nguoi-dan-nin-tho-cho-ap-dung-som-luat-moi-ve-dat-dai-nha-o/20240624090719405
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