- That deposit is very small compared to the huge profits they earn elsewhere. Because the auction results will often establish a new price level in an upward direction. Such auctioneers are also in a speculative relationship, buying and selling to make a profit.
- Does that mean if speculation is eliminated, the real estate market will cool down?
- Speculation is something that always happens in the market mechanism. The important thing to mention is that real estate speculation in our country has existed for the past few decades because of lack of transparency. The regulations of the law overlap, so it is easy to find all kinds of ways to circumvent. Also because of speculation, the product structure is unbalanced in the long term. The high-priced segment is always attractive to invest money, while very few businesses do it in the low-priced segment.
- Another aspect is that cumbersome procedures increase project costs and take too long to complete. If we cut 30% of the time and costs for procedures, the market will change immediately. And the tax law has not yet touched on speculative activities, so the money flow here is still excessive.
- Real estate is an important part of the economy and life. To get the market back to normal, we need to quickly remove the blockage.
Source: https://www.sggp.org.vn/som-go-nghen-post799891.html
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