Real estate needs to unblock the 'bottleneck' of land valuation

Specific land valuation, shortening the land valuation consultation process

Reporting at the conference, outlining the real estate market situation, Deputy Minister of Construction Nguyen Van Sinh said that in the second quarter, the supply of new real estate remained tight; transaction volume and transaction prices decreased compared to the previous quarter and the same period in 2022; FDI capital in real estate also decreased...

Deputy Minister of Construction Nguyen Van Sinh reported at the conference.

According to Deputy Minister Sinh, the activities of the Prime Minister 's Working Group on reviewing, urging, and guiding the removal of difficulties and obstacles in the implementation of real estate projects for localities and enterprises (hereinafter referred to as the Working Group) have initially achieved positive results, contributing to unblocking "bottlenecks" for the market.

In the coming time, the Ministry of Construction will speed up the completion and submit to the National Assembly for promulgation of the amended Housing Law; the social housing policy will take effect soon, expected to be 45 days after the law is passed.

The leaders of the Ministry of Construction proposed that the Working Group will continue to work with localities, enterprises, etc. to review and remove difficulties for projects. The Ministry of Construction commits to coordinate with ministries, branches, and localities to urge and remove legal difficulties to create new supply sources for the real estate market.

Regarding the VND120,000 billion credit package, the Ministry of Construction will coordinate with the State Bank as well as relevant agencies to review, establish, and publish a list of investors in social housing and worker housing projects that are eligible for loans.

To promote the removal of obstacles and promote the healthy and stable development of the real estate market, the Ministry of Construction has "ordered" many ministries and branches to coordinate.

Specifically, the State Bank continues to focus on operating a proactive, flexible, certain, timely, and effective monetary policy, ensuring liquidity and safety of the credit institution system; continuing to reduce interest rates to support production and business, and making it easier for people and businesses to access credit capital.

The Ministry of Planning and Investment directs, urges, and guides localities to remove difficulties and obstacles in investment procedures, approve investment policies for housing and real estate projects, including social housing in urban areas and workers' housing to increase supply to the market.

The Ministry of Construction believes that the Ministry of Finance needs to control capital mobilization activities of real estate businesses on the stock exchange to avoid manipulation and price "inflation".

The Ministry of Finance carefully and specifically reviews and evaluates the payment capacity of organizations and enterprises issuing bonds, including real estate enterprises, especially bonds due for payment in 2023 and 2024.

At the same time, control capital mobilization activities of real estate businesses on the stock market, avoid speculation, manipulation, and price inflation; have effective solutions to promote the development of the stock market, and issue healthy and sustainable corporate bonds.

Regarding land, the Ministry of Construction requested the Ministry of Natural Resources and Environment to promptly complete and submit to the Government for consideration and promulgation a Decree amending and supplementing Decree 44 regulating land valuation methods, developing and adjusting land price frameworks and land price tables; specific land valuation and land valuation consultancy activities according to simplified procedures. At the same time, guide localities to resolve difficulties and problems related to land valuation.

The Ministry of Natural Resources and Environment needs to focus on reviewing the shortcomings, limitations, and obstacles of the circulars to promptly amend and supplement them according to its authority, especially Circular No. 36/2014/TT-BTNMT dated June 30, 2014 detailing land valuation methods; developing and adjusting land price tables; specific land valuation and consulting on land valuation to be issued together with the Decree amending and supplementing Decree No. 44; focusing on building and perfecting the land information system.

Localities need to overcome avoidance and fear of responsibility.

For the People's Committees of provinces and centrally-run cities, the Ministry of Construction recommends strengthening the role and responsibility of leaders in agencies and units; resolutely overcoming the situation of avoiding and pushing work, fear of responsibility, and not daring to advise and propose work handling among a number of cadres and civil servants.

According to the Ministry of Construction, localities need to simplify administrative procedures according to their authority.

At the same time, continue to focus resources and reasonable time to review and make a list of real estate projects with difficulties and problems; specifically assess the reasons and causes of difficulties and problems, on that basis, promptly direct the resolution of difficulties and problems regarding legal issues and investment and construction procedures under the authority. If there are difficulties and problems beyond the authority, report and propose clear solutions to the competent authority.

The Ministry of Construction requested localities to continue focusing on effectively implementing the Project to invest in building at least 1 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period and the VND120,000 billion credit program for preferential loans to develop social housing, workers' housing, and renovate and rebuild apartment buildings.

Localities also consider shortening the time and simplifying administrative procedures according to their authority; clearly defining the focal point for implementing administrative procedures in establishing, appraising and approving housing projects, including social housing and worker housing projects.

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