Data on housing and the real estate market must be 'accurate, complete, clean, and relevant'.

For many years, the Vietnamese real estate market has faced the problem of fragmented and inconsistent information.

The Ministry of Construction has just issued Decision No. 1253/QD-BXD promulgating the Plan for upgrading the Information System on Housing and Real Estate Market.

The agency argues that the Vietnamese real estate market has faced a situation of fragmented and inconsistent information for many years. Data on house prices, supply, transactions, planning, etc., are often scattered across localities, difficult to access, or not updated in a timely manner. This not only creates difficulties for regulatory agencies but also puts investors, businesses, and citizens at risk when making decisions.

In the context of the Government's accelerated implementation of Resolution 57-NQ/TW dated December 22, 2024, of the Politburo on breakthroughs in the development of science, technology, innovation, and national digital transformation, upgrading the information system on housing and the real estate market has become an urgent requirement. This is not just a technical matter, but a crucial step towards a more transparent and sustainable real estate market.

Real estate data must be "accurate, complete, clean, and live."

According to the Plan, the Ministry of Construction has set major goals, including: Completing and upgrading the Housing and Real Estate Market Information System into a unified, synchronized digital platform, interconnected with national and specialized databases, effectively serving state management, policy decision-making, public service provision, and transparency of information for citizens and businesses.

Ensure that 100% of housing and real estate market data is updated accurately, completely, cleanly, and is readily available, guaranteeing information security and privacy, and facilitating integration and utilization in the digital environment.

In addition, the application of advanced technologies to support forecasting and analysis of real estate market trends, ensuring timely implementation, and meeting the requirements of directives from the Party, Government, and Ministry of Construction regarding the development of science , technology, innovation, and digital transformation are crucial.

Review, refine, and upgrade the system.

According to the Ministry of Construction, the implementation of the upgrade to the Housing and Real Estate Market Information System is divided into two phases.

The period around 2025 will involve reviewing the legal regulations in Decree No. 94/2024/ND-CP and building a database according to the plan, ensuring classification, assessment of the current status, readiness level, and current integration and sharing capabilities.