Deputy Prime Minister Le Van Thanh has signed Directive No. 13/CT-TTg dated August 29, 2022 on a number of solutions to promote the safe, healthy and sustainable development of the real estate market.

The directive states that the real estate market plays a very important role in maintaining macroeconomic stability, controlling inflation, ensuring major balances, and promoting growth. However, besides the positive results, in reality, the development of the real estate sector also revealed aa few shortcomings, limitations, inadequacies.

The real estate market still has many potential risks. For instance, the structure of real estate is not reasonable, the price of real estate products, especially the house price is still quite high compared to the income of the people, the base information data on the real estate market is not synchronized and unreliable and a lack of transparency.

The directive requires the promotion of a safe, healthy and sustainable development of the real estate market, strengthening inspection and supervision and building a real estate market information system associated with land information.

It is also a need to control capital mobilisation by real estate enterprises on the stock market, avoid speculation and manipulation, publicity and transparency of construction planning information and promote the development of social housing, especially housing for workers.

In particular, the Prime Minister requested measures to prevent the division and sales of plots in areas where the investment permit has yet to be allowed or there is lack of infrastructure system.

Heed will be paid to strengthening the control over activities of real estate trading floors, organisations and individuals practicing real estate brokerage, as well as handling the act of “unreasonably blowing up prices” causing disturbances in real estate market information.

Also, measures will be taken to review projects that are stagnant, use the allocated land for wrong purposes so that land fund must be put into effective use and match the actual needs of society.

Reporting by TRIEU TUNG – Translating by A.THU