"Blood clot" of real estate market
On the afternoon of June 23, the National Assembly discussed the Law on Real Estate Business (amended). Participating in the discussion, delegate Tran Van Khai (Ha Nam delegation) said that in reality, the real estate market is always on the verge of fever and freezing, which has occurred regularly in cycles since the 90s.
The real estate market fever or freeze has a great impact on the economy. If the State policy does not regulate promptly, there is no effective solution, it can affect the financial and economic crisis.
“Currently, many real estate businesses are on the brink of bankruptcy, and people are miserable. Therefore, building State policies for the real estate market is very important,” Mr. Khai emphasized.
According to the Ha Nam delegation, Resolution 18 as well as Resolution of the 13th Congress stated a very important point: strictly managing and effectively using land resources and other resources. However, this has not been specifically regulated in the system.
Delegate Tran Van Khai (Photo: Quochoi.vn).
Mr. Khai said that voters want to amend the Law on Real Estate Business this time, how to eliminate the mindset of "nothing is more profitable than trading land"; how to prevent the poor from becoming poorer because of real estate; how to prevent the next generation from being hopeless in their dream of owning their own home.
This delegate believes that to ensure the specific legalization of the State's policies on the market, four factors must be ensured. First is the stability of the policy because the real estate market has a very long cycle, the projects are also very long, so policy stability is very important.
Second, creating convenience, openness, and motivation after amending the law, investors will invest strongly in the market. Third, it is necessary to regulate the housing structure and segment when it is currently unbalanced because the high-end housing segment is being invested too much.
“The blood clot is here, while the great demand for housing for workers is not directed or regulated here,” Mr. Khai emphasized. Ultimately, we must strictly manage the real estate market to be able to cope with the hot and cold conditions of the market.
Clearly define deposits to protect home buyers
Meanwhile, commenting on the draft Law, emphasizing that regulations on real estate business conditions are very necessary, delegate Pham Van Hoa (Dong Thap delegation) said that it is necessary to clearly understand the financial capacity of investors and protect the rights of buyers and tenants.
Delegates reported that recently, many investors have low equity capital, mainly bank capital, and when an incident occurs, it will cause major consequences for buyers and banks.
Emphasizing the need for regulations on real estate business conditions, the delegate said that it is necessary to clearly understand the financial capacity of investors and protect the rights of buyers and tenants. The delegate reflected that in recent times, many investors have low equity capital, mainly bank capital, and when an incident occurs, it will cause serious consequences for buyers and banks.
Delegate Pham Van Hoa (Photo: Quochoi.vn).
Regarding the conditions for housing and construction works put into business, delegate Hoa said that it is necessary to regulate that construction works on land with the form of land use that is allocated by the State or leased by the State, with a one-time payment for the entire lease term, are allowed to be sold or leased, while those with annual rental payments are only allowed to be leased, not sold, to protect the rights of buyers when the State reclaims the land.
Regarding the principles of housing business and future construction projects, delegate Nguyen Hoang Bao Tran (Binh Duong delegation) said that it is necessary to consider allowing investors to receive deposits from customers and add regulations on the maximum deposit amount.
This is to prevent investors from abusing the deposit method to mobilize and appropriate customers' capital while the project has not yet completed the conditions for opening for sale.
Regarding regulations on real estate transactions through real estate trading floors, delegate Nguyen Hoang Bao Tran proposed that in order to protect the legitimate rights and interests of the people, all real estate transactions involving at least one individual party must be notarized.
In particular, in cases of real estate transactions between organizations, they have the right to choose to transact through a notary or a real estate trading floor.
National Assembly deputies requested that regulations be made on the maximum deposit amount for future home purchases (Photo: Pham Tung).
Also on this issue, delegate Huynh Thi Phuc (Ba Ria - Vung Tau delegation) suggested that the Drafting Committee should review and carefully consider the regulations on real estate trading floors after conducting surveys and assessing the impact to create favorable conditions for organizations not only to facilitate the implementation of the rights and obligations of real estate trading floors.
According to the delegate, this ensures the strictness as well as the legal basis for organizations and individuals to participate in activities towards professional and safe development, and when the law is passed by the National Assembly, it ensures feasibility and effectiveness .
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