Kinhtedothi - To control real estate prices, National Assembly representatives proposed requiring auction participants to prove their financial capacity to purchase the property, and establishing a professional real estate exchange management mechanism in some major cities…
On the morning of October 28th, at the 8th session, the National Assembly held a plenary discussion on the Report of the Supervisory Delegation and the draft Resolution of the National Assembly on the results of the thematic supervision of "the implementation of policies and laws on real estate market management and social housing development from 2015 to the end of 2023".
Auction participants must demonstrate financial capability.
Highly appreciating the Supervisory Delegation's report on "the implementation of policies and laws on real estate market management and social housing development from 2015 to the end of 2023," National Assembly representative Hoang Van Cuong (Hanoi City National Assembly Delegation) emphasized that the most prominent issue is the very high and continuously rising real estate prices in major cities, exceeding the affordability of the vast majority of people in need of housing, while income from real estate is low compared to the investment cost.
According to delegate Hoang Van Cuong, the unusually high real estate prices are due to a surge in buyers purchasing properties for investment purposes, causing money to flow into real estate instead of into production and business; the supply of real estate is becoming increasingly scarce; and in addition, market forces such as brokers and auctioneers intentionally drive up prices to make profits.
To control real estate prices, Representative Hoang Van Cuong proposed requiring participants in land auctions to demonstrate their financial capacity to purchase the property, thereby eliminating those who only bid to resell. He also suggested immediately implementing Article 31 of the Price Law regarding the examination of factors forming prices when there are unusual fluctuations, and requiring businesses to declare their initial selling prices in the secondary market. Furthermore, he proposed establishing a mechanism for managing professional real estate exchanges in several major cities to ensure transparency in market operations.
Regarding the development of social housing, delegate Hoang Van Cuong argued that low-income earners often lack the savings to buy a house, or even the funds to pay bank loan interest. He proposed increasing the supply of rental housing for low-income earners, allowing them to rent for life and then purchase commercial housing when they meet the eligibility criteria.
Removing obstacles and shortcomings in policies and laws.
Speaking at the session, National Assembly delegate Tran Van Tuan (from the Bac Giang Provincial National Assembly Delegation) stated that the legal framework in this field during the 2015-2023 period has continued to be improved, contributing to economic development and social security stability. Besides the achievements, the delegate noted that many limitations and shortcomings have also emerged, with many targets not yet met. Of particular note is the persistent problem in the promulgation and implementation of policies and laws on real estate market management and social housing development.
Accordingly, detailed regulations and guidelines for the implementation of laws have been issued slowly, their quality is not high, and some regulations are not in line with reality. In addition, many localities have not fully issued the legal documents within their authority to provide detailed regulations and guidelines for the implementation of the Land Law, the Real Estate Business Law, the Housing Law, etc. Some legal documents issued by the Government and relevant ministries and agencies still contain many provisions that lack detailed regulations and clear guidance.
Looking ahead, delegates suggested that the draft Resolution should include a task on further improving the effectiveness and efficiency of implementing policies and laws on real estate market management and social housing. Accordingly, the Government and relevant ministries and agencies need to regularly and urgently review and refine detailed regulations and guidelines for the implementation of newly enacted laws, ensuring that limitations and obstacles are overcome, and that regulations are clear, effective, and feasible in practice.
Sharing the same view, National Assembly representative Dang Bich Ngoc (Hoa Binh province delegation) suggested promptly removing institutional bottlenecks and definitively resolving legal issues with projects. Specifically, the Government should continue to thoroughly review the shortcomings and limitations of policies and laws in managing the real estate market and developing social housing.
Besides the 22 remaining policy and legal issues and shortcomings after the promulgation of the Law on Real Estate Business, the Law on Housing 2023, and the Law on Land 2024, Representative Dang Bich Ngoc suggested that it is necessary to continue reviewing and researching to promptly and comprehensively propose solutions to quickly remove institutional bottlenecks, appropriately resolve and definitively address real estate projects facing difficulties, legal obstacles, and stagnation due to prolonged implementation processes and changes in laws over time, meeting the requirements for sustainable development of the real estate and social housing market.
Furthermore, the institutional inadequacies and overlaps pointed out in the monitoring report are extremely important grounds for drafting agencies to update, research, and amend draft laws starting from this session, especially laws on urban and rural planning and the Law on Public Investment. In particular, it is necessary to study regulations aimed at promoting decentralization and delegation of power to localities to strengthen the role, initiative, and responsibility of local governments in accordance with their capabilities and linked to resource allocation…
Source: https://kinhtedothi.vn/dbqh-xay-dung-co-che-quan-ly-san-giao-dich-bat-dong-san-chuyen-nghiep.html
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