The Chairman of the People's Committee of Bac Giang province directed the strengthening of real estate market management.

BAC GIANG - On March 26, the Chairman of the People's Committee of Bac Giang province issued a directive to rectify and implement measures to strengthen the management of the real estate market in the province.

Recently, in some areas of the province, a "speculative bubble" in the real estate market has emerged, with many people frequently gathering, continuously researching, providing information, and conducting transactions to buy and sell houses and land within a short period of time.

The cause of this situation is that some investors and real estate brokers are exploiting information related to the division and merger of administrative units to spread rumors and deliberately inflate real estate prices beyond their true market value; enticing people to participate in establishing illegal capital contribution and purchase contracts; and even engaging in staged transactions, buying and selling with large price differences to deceive buyers and create the illusion of high, quick, and easy profits.

Land in Voi town (Lang Giang district) experienced a short-lived "speculative bubble".

Some developers are showing signs of raising capital illegally and using various methods to sell real estate products before meeting the necessary conditions... These actions disrupt the real estate market, pose many risks to buyers with genuine needs, and could lead to disputes and lawsuits, causing instability in local security and social order.

To rectify the situation and further strengthen state management of the real estate market in the province, the Chairman of the Provincial People's Committee requested the Department of Construction to immediately establish hotlines to receive complaints and launch a high-intensity campaign to inspect and handle violations related to real estate business.

Upon receiving feedback from organizations or individuals on social media or other media outlets regarding real estate transactions or activities that show signs of violating the law, inflating prices, or deceiving the market (including cases discovered through monitoring and investigation on social media), the Department of Construction must promptly conduct inspections and strictly handle violations within its authority. If there are signs of criminal violations, the case must be immediately transferred to the police for investigation as prescribed.

Publicly post and announce on the Department's and the Provincial People's Committee's electronic portals and fanpages the list of investors, real estate projects, and eligible trading platforms so that people can find information and decide on transactions (requiring detailed information on which projects have reached the stage of capital mobilization, and which projects are eligible for transfer...).

In coordination with the State Bank of Vietnam, Region 5, conduct functional and task inspections on the implementation of the Law on Prevention and Combat of Money Laundering for a number of real estate developers and trading platforms in the province (completing inspections of some organizations in April 2025).

The Department of Finance, in coordination with the Department of Construction and the Regional Tax Office VI, will review and cross-check information to verify the implementation of state laws and regulations on business registration in Bac Giang province for investors and real estate trading floors; and promptly and strictly handle violations in accordance with the law.

The provincial police directed professional units and commune-level police forces to strengthen their monitoring of the situation, promptly detect, prevent, and strictly handle violations of the law in real estate business, especially acts of spreading false information on social media applications and colluding to manipulate the real estate market for profit.

The People's Committees of districts, towns, and cities shall direct specialized agencies and the People's Committees of communes, wards, and townships to strengthen monitoring and proactively inspect and control the activities of real estate trading floors, real estate consulting service offices, and individuals engaged in real estate brokerage activities in their areas.

It is especially important to strictly control and severely punish cases of real estate business that do not comply with regulations, lack legal documents, or do not meet business conditions. If necessary, information signs can be placed at projects where brokers, investors, and residents frequently gather in large numbers to warn them.

The Provincial Real Estate Association is strengthening its efforts in disseminating information and providing guidance to its members, including real estate project developers, real estate exchanges, and real estate brokers, on conducting real estate business in compliance with legal regulations, ensuring transparency, and preventing the spread of false information and illegal speculation for profit.

Organizations and individuals are requested to immediately notify the relevant authorities (Department of Construction, Provincial Police, People's Committees of districts, towns, and cities where illegal activities occur) upon discovering illegal real estate brokerage, tax evasion in real estate transactions, repeated buying and selling of one or several properties within a short period, or evidence of improperly signed capital mobilization or real estate purchase and sale contracts between customers and project developers) for consideration and handling in accordance with regulations.

PhD

Source: https://baobacgiang.vn/chu-tich-ubnd-tinh-bac-giang-chi-dao-tang-cuong-quan-ly-thi-truong-bat-dong-san-postid414921.bbg