Housing prices have risen 25 times faster than income; the Speaker of the National Assembly demands strict control over the situation.

Pointing out the inadequacy of housing prices being 25 times the income of urban residents, National Assembly Chairman Tran Thanh Man requested measures to halt the downward trend of the real estate market and to better control the number of newly built houses.

"Where there's a blockage, clear it; where there's a difficulty, remove it."

Speaking at the group discussion session on the afternoon of October 26, National Assembly Chairman Tran Thanh Man said that the workload of the National Assembly at the 8th session is very large.

This requires the National Assembly to work harder, promptly resolving difficulties and obstacles in the country's socio -economic development in the spirit of "clearing blockages wherever they occur, and removing difficulties wherever they arise".

National Assembly Chairman Tran Thanh Man speaks at a group meeting (Photo: Trong Quynh).

Over the past period, the National Assembly has always worked alongside the Government to innovate the law-making process in order to build a professional and long-lasting legal system.

To have a professional and long-lasting legal system, National Assembly deputies must actively, resolutely, and decisively work towards it. Therefore, the Chairman of the National Assembly requested that deputies focus intensely during the 29.5 days, striving to consider and pass 18 laws.

"Voters and the people have high expectations for the 8th Session of the National Assembly to make decisions on important issues related to socio-economic development and ensuring national defense and security. The people trust that the National Assembly must do its utmost," the Speaker of the National Assembly emphasized.

After analyzing the shortcomings and limitations, and identifying bottlenecks in socio-economic development in 2024, the Chairman of the National Assembly emphasized the need to accelerate and make breakthroughs in the remaining time of this year and in 2025, creating a foundation for the 2026-2030 period. The National Assembly must spread the spirit of the 10th Central Committee Meeting of the 13th Party Congress.

Unreasonable housing prices and real estate product structure.

Highlighting several key issues to consider in implementing socio-economic development tasks in the coming period, the Chairman of the National Assembly emphasized the many shortcomings in the real estate and housing market.

The Chairman of the National Assembly stated that the results of the National Assembly's thematic supervision on "The implementation of policies and laws on real estate market management and social housing development from 2015 to the end of 2023" revealed many issues that need to be addressed in the future.

Typically, the gap between housing prices and people's income remains too large, with average housing prices being 25 times the average per capita income of people in urban areas.

"Currently, we don't lack housing; supply is abundant, and demand exists, but homebuyers have difficulty paying," the Speaker of the National Assembly pointed out.

Adding another shortcoming, the Chairman of the National Assembly stated that while the supply of real estate is abundant, the product structure is irrational. He noted that at the end of 2023, for the apartment segment, the market had almost no affordable apartment projects (below 25 million VND/m2).

On the afternoon of October 26th, the Chairman of the National Assembly and delegates from Group 13 discussed the economy, society, budget, adjustments to the National Land Use Planning, the implementation of the Constitution, laws, and resolutions of the National Assembly, and the draft Law on Electricity (amended)... (Photo: Trong Quynh).

Along with that are issues related to providing credit to the real estate market, issuing bonds by real estate companies, developing social housing, etc.

Regarding future solutions, the Speaker of the National Assembly emphasized preventing the downward trend of the real estate market while also effectively controlling the number of newly constructed housing units.

Regarding promoting production and business, the Chairman of the National Assembly noted that attention must be paid to the capital market, creating favorable conditions for people and businesses to borrow capital for development.

"Are banks facilitating access to capital? Is it easy for people and businesses to access funds and complete loan application procedures?", the Speaker of the National Assembly asked, emphasizing that this is an issue that local National Assembly deputies must also monitor and promptly report to competent authorities on any changes in the situation, without waiting for the National Assembly's supervisory delegations or committees.

At the same time, he called for increased support for struggling businesses and for creating favorable conditions for the development of private enterprises.

"The development of private enterprises contributes greatly to the development of our economy. Some localities still have many outstanding land projects. The Land Law, the Real Estate Business Law, and the Housing Law have come into effect, but many localities have yet to issue implementing guidelines. The laws, decrees, and circulars are already in place, so now the People's Councils at the local level must issue documents within their authority to ensure timely implementation and provide prompt guidance," the National Assembly Chairman emphasized.

Source: https://www.baogiaothong.vn/gia-nha-tang-gap-25-lan-thu-nhap-chu-tich-quoc-hoi-yeu-cau-kiem-soat-chat-tinh-hinh-192241026201329903.htm