Ministry to submit real estate plan
Hanoi (VNA) - The Ministry of Construction will submit a plan to the Prime Minister on promoting stable and healthy development of the local real estate market in this year’s fourth quarter.
This plan will assess the market situation, forecast medium-term development trends and propose solutions, mechanisms and policies to enhance sustainable development of the real estate market.
It is expected to remove difficulties in the market, and in particular lead to
transparency.
Notably, under the
Government’s policy, housing products for low and middle-income people will
gradually meet demand. However, to ensure these goals, a financial solution is
also very important and requires coordination among the relevant ministries.
Since the beginning of
2017, the real estate market has continued to maintain steady growth. Price,
transaction volume and liquidity have been stable and inventory has continued
to decrease, according to the plan. The structure of property products is continuously
adjusted according to demand, while credit in the real estate sector has
maintained healthy growth.
Especially, strong
growth in the tourism and resort real estate market in some coastal areas such
as Da Nang, Nha Trang (Khanh Hoa), Phu
Quoc (Kien Giang) has attracted domestic and foreign investors.
[Real estate records new M&A deals in first half]
At present, the ministry has enhanced inspection and supervision to implement
regulations and collected data on housing and the real estate market
nationwide.
The ministry has requested localities to prepare reports on implementing urban
area projects, housing development projects and large-scale resort real estate
projects. The localities must inspect the development of high-end real estate
projects using a large area of land at some key locations. They must also
strengthen inspection and supervision for implementing investment for the
construction of administrative complexes in the localities.
However, people and
businesses expect state agencies to build, manage and use information systems
on housing and the real estate market. So far, the systems have not been
completed, despite having a plan in place to develop them for many years. This
affects the value of the report or forecasts on the real estate market
published from the survey of consultancy units.
The information system on
the real estate market is very important because state management agencies
assess the market while businesses implement transactions based on the system.-VNA