In an aim to prevent illegal activity in the property sector, the Ho Chi
Minh City administration has directed the Department of Construction to
distribute legal documents on real estate business and services to
property transaction floors.
The documents include
information about real-estate brokerage and price assessment and
management, according to the People's Committee.
People's Committee also asked the department to conduct inspections of
organisations and individuals in the real-estate industry.
The city told the department to publicise its list of violations and the names of illegal real-estate transaction floors.
They also asked the department to conduct research on the kind of
policies that could improve the operation and services of real-estate
As part of the plan to clean up
real-estate activities in the city, the municipal government has also
told the city's Department of Planning and Investment to provide
information about the operations of real-estate companies.
The city asked the department to draw up a list of businesses that
have been issued new business or investment certificates, and that have
been closed, suspended or banned from operating.
Businesses whose investment certificates have been withdrawn will also be included on the list.
Under the city's directive, the Department of Natural Resources and
Environment will be responsible for informing district People's
Committees about the procedures for issuing land-use ownership
certificates and house-ownership certificates for real-estate products
via real-estate transaction floors.
As of the end of
last year, the city had more than 350 legal property transaction
floors, accounting for 50 percent of the number of property transaction
floors nationwide, according to the Department of Construction.
However, the management of the operation of many real-estate transaction floors has been lax.-VNA