Hanoi (VNA) – The regulation requiring all real estate assets to be assigned identification codes and integrated into the national land database from March 1, 2026 has been described by experts as a foundational shift for Vietnam’s property market.
Under the new framework, each land plot, apartment, house and asset attached to land will be given a unique identification number.
This code will be linked to data on land-use rights, planning information, transaction history, mortgage status and financial obligations. Instead of being scattered across separate systems and largely managed through manual records, information will be standardised and updated on a unified digital platform.
Matthew Powell, Director of Savills Hanoi, said the timing is significant, reflecting a clear move from fragmented administration to data-driven governance. This, he noted, lays the groundwork for a more transparent and professional market.
In recent years, Vietnam’s real estate sector has experienced rapid growth, accompanied by localised land price “fevers” and the persistent issue of dual pricing, where declared values are far lower than actual transaction prices. Experts point to the lack of a robust database for cross-checking and supervision as a core cause.
Once the identification requirement takes effect, all transactions will have to be registered and updated under the asset’s unique code. This will enable authorities to better monitor real transfer values by area and property type, gradually narrowing the gap between market prices and declared prices.
Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council, said asset identification will help establish a “clean” and unified database nationwide, improving tax management efficiency and reducing budget losses.
From a market perspective, greater data transparency is also expected to reshape investment behaviour. When planning, legal status and transaction histories are publicly accessible via identification codes, investors will rely more on factual analysis rather than speculation driven by rumours.
Powell said short-term price spikes based on unfounded expectations are likely to be curbed, with capital flowing instead to areas backed by solid infrastructure and clear planning.
The new mechanism is also likened to creating an “electronic profile” for each property. All changes in ownership, mortgage status, planning adjustments and financial obligations will be recorded under a single code, reducing risks of disputes and fraud, particularly in the active secondary housing market.
Luc said that for banks, integrated data will shorten collateral appraisal processes and lower credit risks. Meanwhile, for investment funds and institutional investors, improved transparency and real-time verified data will enhance due diligence, reduce transaction costs and strengthen the legal framework, thereby attracting longer-term capital.
However, experts caution that implementation will be challenging. Millions of land records remain in paper form, with incomplete or inconsistent information. Digitalisation, data cleansing and standardisation will require substantial resources and unified technical standards. Data security and privacy protection must also be prioritised through clear access control mechanisms.
In the long term, the mandatory identification of real estate assets is seen as an essential step toward sustainable development. As data becomes the foundation of market operations, confidence is expected to improve, transaction costs decline and resources be allocated more efficiently, helping Vietnam’s property market move closer to international practices./.
