Just when there was a transaction, the market saw a "ghost" project reappear.

The real estate market in the third quarter of this year has been assessed by many research units to have developed in a positive direction. Market liquidity is gradually improving, especially compared to the difficult period at the end of last year and the first months of this year.

The efforts from the Government , ministries, real estate enterprises themselves... have contributed positively to "preserving" the real estate market. Although the market is not strong enough to "overcome the slope", it has somewhat escaped the risk of "losing the brakes".

According to the Ministry of Construction , in the third quarter, the real estate supply has grown significantly. The number of completed commercial housing projects in this quarter increased by 300% compared to the previous second quarter. The number of infrastructure investment projects to transfer land use rights for housing construction increased by 144% compared to the second quarter and the number of newly licensed commercial housing projects in the third quarter was equivalent to the second quarter of this year (15 projects).

According to the Ministry, the number of transactions in the land segment in the third quarter increased compared to the second quarter of the same year, with 91,277 land transactions in the quarter, equal to 135.72% compared to the second quarter; for transactions in apartments and individual houses in the third quarter, there were 29,723 apartment transactions, equal to 99.99% compared to the second quarter of the same year.

Vừa rục rịch có giao dịch, thị trường đã xuất hiện trở lại dự án ma - 1 — Loc Phuc Company was caught red-handed organizing a "ghost" real estate trading floor at the end of August (Photo: Van Viet).

According to the Vietnam Association of Realtors (VARS), this year, the number of transactions in the second quarter increased compared to the first quarter and the number of transactions in the third quarter was 1.5 times higher than the second quarter, reaching about 6,000 transactions. Although the number of transactions has increased again, compared to the period before the Covid-19 pandemic, the number of transactions is still only about 10%.

However, according to VARS, in the third quarter, the market witnessed the reappearance of large-scale fraud, causing many people to lose money due to "ghost projects". The above developments continue to be a wake-up call for "amateur" investors who lack information and understanding of the real estate market.

At the same time, VARS emphasized that it is urgent to strengthen management, supervision and accountability measures for all subjects participating in transactions related to real estate products.

Speaking to Dan Tri newspaper reporter, Mr. Nguyen Van Dinh - Chairman of VARS - said that for many years, real estate project investors have been "favored" to be given the right to decide how to bring their products to customers. Every year, real estate developers and investors create hundreds of thousands of products, contributing to the development of urban infrastructure, service infrastructure and housing.

But at the same time, in the past, there were many real estate companies that "said one thing and did another", created "ghost projects", launched products with unclear sales conditions or lacked legal procedures... and then used the "decoy" trick and the crowd effect to attract customers.

"The consequences have left behind are causing much instability in the Vietnamese real estate market with complaints, lawsuits, and disputes from customers and investors," Mr. Dinh emphasized.

According to him, after this trick was discovered, a series of "ghost" projects were punished, and state management agencies continuously issued warnings. However, recently, many people have been "lured" with more sophisticated forms of fraud.

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