Many provinces and cities are reviewing the increase in real estate prices.

Recently, the Hanoi People's Committee requested districts to make a list of cases of paying higher than market prices to win auctions but not paying, and to publish it on the information pages of the districts and the Department of Natural Resources and Environment.

Hanoi City directs units to continue to improve regulations on land auctions, limiting auctions to allocate land to individuals to build their own houses. Hanoi will prioritize land auctions with collection of land use fees and land leases to organizations to implement investment projects.

On September 23, the People's Committee of Nghe An province also issued Document No. 8203 on strengthening the management and control of real estate price fluctuations.

Nghe An province requested the Department of Construction to review real estate business activities of enterprises, investors, real estate trading floors, and brokers in the area, especially in areas, projects, and apartment buildings with unusual price increases.

The province also assigned the Department of Natural Resources and Environment to review and inspect land auction activities with abnormal price increases, promptly detect and strictly handle violations of land laws. From there, units will take measures to prevent acts of taking advantage of land auctions to profit and disrupt the market (if any).

Scene of a land auction in Nghe An (Photo: Hoang Lam).

Thanh Hoa Provincial People's Committee also issued Document No. 14201 to strengthen management and control of real estate price fluctuations in the area.

The province requested relevant units to clarify the causes of price fluctuations of each type of real estate such as apartments, individual houses, and residential land in the area in the recent period.

From there, the units have measures to strictly manage the construction of houses for people in land use rights business projects with technical infrastructure in the form of dividing lots and selling land.

Kon Tum province also issued Official Letter No. 3480 to strengthen management and control of real estate price fluctuations in the province. According to the letter, Kon Tum Provincial People's Committee requested the Department of Construction to review and inspect real estate business activities, the purchase and resale of real estate that has been transferred many times.

At the same time, the province requires management units to inspect and examine, thereby taking measures to correct price inflation, price manipulation, speculation, and handle violations. Districts and cities organize inspections, grasp the situation, and clarify the causes of price fluctuations of each type of real estate such as apartments, individual houses, and residential land in the area.

The People's Committee of Ha Nam province has also just issued Official Dispatch 1949 to strengthen the management and control of real estate price fluctuations.

The Department of Construction of this province is assigned to coordinate with relevant units to strengthen inspection and review of real estate business activities of enterprises, investors, trading floors and brokers in the locality.

From there, units have plans to control the buying and selling of real estate that changes hands many times, especially in areas and projects with unusual price increases.

In addition, relevant units shall inspect, examine, and take measures to correct acts of price inflation, price manipulation, speculation, and handle violations of land law, real estate business law, and related laws (if any) according to their authority.

Scene of land auction in Thanh Oai, Hanoi (Photo: Duong Tam).

According to the assessment of the Ministry of Construction, some speculative groups, investors and individuals operating in real estate brokerage disrupt market information to "inflate prices", "create virtual prices"... and take advantage of people's lack of knowledge to manipulate psychology, attract investment according to crowd psychology for profit.

In addition, the auction of land use rights in recent times has revealed limitations and negative aspects. In the process of organizing land auctions in some places, there are also phenomena of "auction brokers", collusion... affecting auction participants.

From there, the Ministry proposed to study and propose a tax policy for cases of owning and using many houses and lands to limit speculative activities and the buying and selling of houses and lands in a short period of time to make a profit.

At the same time, the study proposed that competent authorities consider piloting the model of "Real estate and land use rights trading center managed by the State" to limit the situation where real estate trading floors and brokers can collude to disrupt the market.

The Ministry also proposed to strengthen inspection, supervision, and effective management of real estate service business activities, real estate trading floor services, brokerage services, etc.

Source: https://dantri.com.vn/bat-dong-san/hang-loat-tinh-thanh-vao-cuoc-ra-soat-viec-tang-gia-bat-dong-san-20241002011421289.htm