National Assembly Delegate: There are real estate businesses that "catch thieves with bare hands"

On the afternoon of June 19, the National Assembly discussed in groups the draft Law on Real Estate Business (amended).

Giving comments at the group, Deputy Nguyen Thi Le (HCMC) cited the fact that there are still many unfinished commercial housing projects and works in HCMC, leading to thousands of apartments not being granted certificates.

At the same time, the delegate pointed out many reasons, including investors not complying with regulations and commitments, not fulfilling financial obligations to the State, which affects the rights of home buyers even though they have paid in full for the house.

From there, the delegate proposed to add the deposit regulation to the draft Law on Real Estate Business to ensure the conclusion of contracts before the time when the house, house foundation as well as the construction works formed in the future are eligible to be put into business and enter into contracts.

National Assembly Delegate Nguyen Thi Le. Photo: QUANG PHUC

In addition, Deputy Nguyen Thi Le proposed to add Clause 4, Article 41 in the draft law. There needs to be a consensus to determine that the transfer of a part of a project is a normal business activity of an enterprise under the enterprise's autonomy in production and business as prescribed by law.

The delegate said that when transferring a part of a project, the enterprise must pay taxes, overcome the situation of illegal transfers, disguised under the form of transferring shares, changing shareholders, etc.

The delegation of the National Assembly of Ho Chi Minh City discussed in the group. Photo: QUANG PHUC

Regarding future housing, Deputy Tran Hoang Ngan (HCMC) said that in reality, there have been disputes between home buyers and investors. That is, the investor delivered the house late to the buyer, did not deliver the quality as committed, did not ensure social and cultural infrastructure, and was late in delivering the house ownership certificate...

The delegate also cited a case in which a family member had transferred money to buy a house but the investor did not deliver the house. Therefore, the delegate suggested that this draft law must specify in detail the responsibilities of the investor, including the state management agency when granting construction permits. At the same time, there should be regulations to protect the vulnerable in society and home buyers.

National Assembly Delegate Tran Hoang Ngan. Photo: QUANG PHUC

Regarding future real estate transactions conducted through real estate trading floors, Deputy Tran Hoang Ngan said that real estate products listed on the floor must follow standards including brokerage department, business department, notary department... and cannot be in the nature of real estate brokerage floors as it is now. Therefore, people should not be forced to buy houses through trading floors when these floors are not up to standard.

National Assembly Delegate Truong Trong Nghia. Photo: QUANG PHUC

Agreeing, Deputy Truong Trong Nghia (HCMC) said that the law needs to ensure the rights of real estate business people and buyers.

The deputy cited the reality that the real estate industry has both merit and sin in the past, as many people have saved money for their entire lives, even 2-3 generations, to buy a house or apartment. Therefore, owning a house or apartment is very important to people.

The delegate suggested that the recent negative developments in the real estate industry should not lead to too many restrictive regulations that would affect real estate businesses.

At the same time, there are too many regulations in reality, real estate businesses that want to speed up project progress have to pay for it, which is costly.

Therefore, the law needs to create a suitable and open legal corridor for businesses to do business, while protecting consumers who are customers buying real estate products.

National Assembly Delegate Tran Kim Yen gives comments. Photo: QUANG PHUC

Delegate Truong Trong Nghia also suggested that when drafting laws, we need to be vigilant against the content that inserts the interests of real estate businesses. Lawmakers need to be vigilant to detect these loopholes to protect the rights of the people and consumers.

Regarding future housing, the delegate pointed out that investors were eager to raise capital even though the projects were not yet eligible for sale. This led to the situation of "catching a thief with bare hands", with some businesses investing in up to 50 real estate projects. When the real estate market went down, the State and banks had to come to the rescue.

"There are businesses that do business seriously and properly, even when facing difficulties, they use their accumulated profits to compensate," said National Assembly member Truong Trong Nghia, pointing out the current situation of real estate businesses.

The delegate further suggested that in the draft law, real estate enterprises must publicly disclose and be responsible for the completeness, honesty and accuracy of public information on projects.

Agreeing, Deputy Van Thi Bach Tuyet said that the bill needs to supplement details and clarify the responsibilities of organizations and individuals participating in real estate business activities as well as investing in real estate business projects.

National Assembly Delegate Van Thi Bach Tuyet. Photo: QUANG PHUC

Regarding the current story of many apartments in Ho Chi Minh City not being granted certificates of house ownership, the delegate proposed to review and include the regulations on investor responsibility as one of the conditions for putting future assets or real estate projects into business.

The delegate also suggested that there should be specific and detailed regulations to organize real estate transactions through the trading floor in a public and transparent manner to ensure the rights of the parties involved in buying and selling. This will help sellers quickly bring their products to the market, while buyers will have full information about the products and find the right real estate products.

Minister of Construction Nguyen Thanh Nghi. Photo: QUANG PHUC

Previously, presenting the Report on the draft Law on Real Estate Business (amended), Minister of Construction Nguyen Thanh Nghi acknowledged that after nearly 8 years of implementation, the Law on Real Estate Business 2014 and its guiding documents, in addition to the achieved results, the law on real estate business has also shown shortcomings and limitations that need to be amended and supplemented.

This draft Law on Real Estate Business (amended) is expected to overcome the shortcomings and limitations after 8 years of implementing the Law on Real Estate Business 2014, overcome the overlap and contradiction between the provisions of this law and other related laws to ensure the synchronization and unity of the legal system.

Thereby, helping to develop the real estate market on the basis of strict management, ensuring safety, health, stability and smooth operation; restructuring the real estate market.

Along with that, use resources economically and effectively; build a real estate market information system associated with land information; develop urban areas and real estate projects associated with planning and reasonable land use plans, taking into account the time of implementing planning and plans to balance supply and demand, create a suitable real estate price level, overcome land speculation to ensure harmony of interests of the State, enterprises and people.

Source: https://www.sggp.org.vn/dai-bieu-quoc-hoi-co-doanh-nghiep-bat-dong-san-tay-khong-bat-giac-post694300.html