Business

Ministry of Construction works to avoid property bubble

The Ministry of Construction (MoC) has requested the People's Committees of provinces and centrally-run cities to strengthen the management of the domestic real estate market, controlling the risks of a property market bubble.
Ministry of Construction works to avoid property bubble ảnh 1In the new normal period, the real estate market has seen a significant recovery, thanks to transaction volume increases. (Photo: baodantoc.vn)
Hanoi (VNS/VNA) - The Ministry of Construction (MoC) has requested the People's Committeesof provinces and centrally-run cities to strengthen the management of thedomestic real estate market, controlling the risks of a property market bubble.

DeputyMinister of Construction Nguyen Van Sinh said that, due to the pandemic andlong periods of social distancing, many economic fields have been affected,including the real estate market.

In the newnormal situation, the real estate market has recovered significantly with atrend of increasing transaction volume and real estate prices. However, thedevelopment of the real estate market is not sustainable and the market stillfaces risks.

Manyorganisations, individuals and businesses have violated regulations relating tothe property market, according to the ministry. Data on the real estate marketis incomplete and lacks transparency. Some enterprises are conducting realestate business, though they do have legally have the license to do so.

In somelocalities, there have been illegal real estate transactions, including the saleof plots on agricultural or non-agricultural land. This has affected thesocio-economic development of the real estate market.

There are somecases of land auctions with the winning prices being many times higher than theoffering price, causing negative impacts on the housing and real estate market,the ministry said.

Therefore, MoChas proposed the people's committees of the provinces and centrally-run citiesfocus on reviewing and inspecting land auctions.

Localitiesalso need to review their real estate markets and the potential risk of"bubbles" or other unusual developments. They must forecast thefuture of the real estate market and implement tasks and solutions to promotestable and healthy developments of the real estate market.

The localitiesshould also strengthen management, supervision and inspection of the propertymarket to prevent rumours from spreading, according to the ministry.

It isimperative that they strictly handle violations in real estate brokerage andtrading activities, real estate projects and land-use rights. They mustespecially promote control of real estate projects that do not meet legalprocedures and strictly handle projects that have offered products on themarket.

The ministryhas also requested localities publicise information on the planning andbuilding progress of infrastructure development projects and real estateprojects, as well as the merger and establishment of local administrativeoffices.

They mustmonitor the property market development and have measures ready to stabilisethe market, preventing real estate prices from rising too high and the risk ofa property bubble./.
VNA
#Ministry of Construction #People's Committees #property market bubble #real estate market #Vietnam #VietnamPlus #Vietnam news
Follow VietnamPlus

Related News

See more

Vietnam and Cambodia are seeking to strengthen supply chain connectivity and promote sustainable border trade at a trade promotion conference in Vietnam's Mekong Delta province of Dong Thap on May 15. (Photo: https://thoibaonganhang.vn/)

Vietnam, Cambodia eye stronger border trade, supply chain connectivity

Vietnam–Cambodia trade ties have grown rapidly in recent years, becoming one of the major pillars of economic cooperation in the Mekong sub-region. The two countries share a 1,137-km border and an increasingly developed network of international and secondary border gates, facilitating cross-border trade, logistics and investment.

Illustrative image. (Photo: VNA)

Three proposals to connect overseas Vietnamese resources with private economy at home

There are currently many Vietnamese IT specialists working in technology corporations, banks, start-ups and innovation ecosystems across Canada. With appropriate mechanisms in place, this workforce could become a technology bridge, helping Vietnamese enterprises access management expertise, technical solutions, international standards and partnership networks in North America.

The Nguyen Van Linh–Nguyen Huu Tho intersection fully opens both underpasses to traffic, helping ease congestion in the area. (Photo: VNA)

Ho Chi Minh City pushes for full public investment disbursement

Ho Chi Minh City was allocated a record 147.599 trillion VND (5.6 billion USD) in public investment capital for 2026, up 22.6% from last year and accounting for nearly 14.6% of the nation’s total public investment budget. However, disbursement by the end of April remained below the national average.

Visitors explore Quang Tri province’s OCOP products (Photo: VNA)

Quang Tri links OCOP products with tourism to expand farm produce markets

The central province currently has 160 OCOP products developed by cooperatives, cooperative groups and businesses, including two five-star and 31 four-star products. These locally distinctive products are gradually becoming "ambassadors" showcasing Quang Tri’s culture and identity to domestic and international visitors.

Work starts on Hanoi’s Red River Landscape Boulevard Axis project on December 19, 2025. (Photo: VNA)

Hanoi approves nearly 28-bln-USD Red River landscape boulevard project

Covering more than 11,400 hectares and requiring an estimated 736.96 trillion VND (nearly 28 billion USD), the project is expected to reshape urban development along both banks of the Red River over the coming decades while improving transport connectivity and public spaces in the capital.

Deputy Prime Minister Nguyen Van Thang and delegates perform the ground-breaking ceremony for the Northwest Dien Bien Phu New Urban Area, Resort and Sports Complex project. (Photo: VNA)

Vingroup launches largest-ever urban development project in Dien Bien

Under the master plan, the project will span more than 228.5ha and accommodate around 12,000 residents. It is designed under a “city within a city” model integrating residential areas, commercial and service facilities, resorts, schools, healthcare services, public spaces and sports infrastructure.

Deputy Prime Minister Nguyen Van Thang and delegates press the button to launch construction of the Dien Bien Phu cultural-historical tourism and cable car complex project in Dien Bien province on May 10, 2026. (Photo: VNA)

Dien Bien Phu cultural-historical tourism, cable car complex project launched

The project aims to effectively tap the area’s natural landscapes, geographical advantages and distinctive historical value, while creating a high-quality tourism product with strong competitiveness. It is also intended to preserve, honour and promote the value of the Dien Bien Phu Victory special national historical relic site.

Politburo member Nguyen Duy Ngoc (third, right), who is Standing Deputy Head of the Central Steering Committee for Science-Technology Development, Innovation and Digital Transformation, holds a working session with the Colombo Port City Management Board. (Photo: VNA)

Vietnam studies Colombo smart port city model

Ngoc praised Sri Lanka’s orientations in developing seaport infrastructure, digital infrastructure, digital economy and international service centres, describing them as valuable references for Vietnam in developing strategic infrastructure, innovation centres, smart urban areas and digital economy ecosystems.

Tan Cang – Cat Lai Port in Ho Chi Minh City (Photo: VNA)

MoIT issues decision recognising Vietnam Logistics Day

The move is aimed at raising awareness across government agencies, businesses and the wider public of the vital role logistics services play in socio-economic development, international integration and strengthening national competitiveness.