Prime Minister Nguyen Xuan Phuc has asked the People’s Committees of Da Nang and Quang Nam to work with the Ministry of Natural Resources and Environment and the Ministry of Finance to devise measures to stabilise their real estate markets.

Real estate agents seen on a street in Da Nang

The order was issued amid reported unusual prices hikes in the two localities’ real estate markets.

In Da Nang, land prices in many areas have been inflated by the spread of false information regarding planning or new construction projects.

In mid-March, Da Nang issued a document requesting the management and supervision of real estate brokerages and land transactions be enhanced to prevent land price increases.

On March 8, the municipal Department of Construction warned about illegal real estate transactions in the city, and urged home seekers and investors to be watchful.

Land prices in Quang Nam Province were also reported to increase unusually recently. In response, the provincial People’s Committee asked districts’, town’s and municipal authorities to temporarily halt the splitting of land slots and converting of land use right purposes in some areas.

(Source: VNS)