Citing the opinion that social housing is actually bought, sold, exchanged, and rented mainly by rich people, even foreigners, not workers or laborers, the Economic Committee proposed that the Government conduct a comprehensive inspection of social housing development in recent years to find effective solutions; and study strong measures against violations of social housing policies and laws.
Complicated procedures and speculation make it difficult for people in need to access social housing.
Report on the review of the implementation results of the 2024 Socio-Economic Development Plan at the 38th session of the Standing Committee of the National Assembly On the morning of October 9, Chairman of the National Assembly's Economic Committee Vu Hong Thanh said that the real estate market has shown signs of recovery but is still facing difficulties.
The inspection agency stated that since the beginning of 2024, the prices of apartments in the center or suburbs of Hanoi have recorded a sudden increase.
According to the Economic Committee, some people believe that the main reason is that the supply of apartments in Hanoi is really scarce. The number of projects has been increasingly limited in recent years, while the demand of customers, especially young families, is still very high.
The product structure in the market is unbalanced when the affordable apartment segment is scarce, causing apartment prices in the primary and secondary segments to be pushed up, making it difficult for people with real housing needs to access.
"Even for social housing, there is currently a situation where people in need cannot buy due to complicated procedures and speculation, with a huge price difference between the selling price registered by the investor with the State and the actual selling price.
There are opinions that social housing is actually bought, sold, exchanged, and rented mainly by rich people, even foreigners, not workers, laborers, or people with real needs for this type of housing," the inspection report stated.
The Economic Committee cited media information and public opinion reflecting the reality of many foreigners renting and living in social housing projects in Bac Giang and Bac Ninh - two industrial capitals in the north.
Areas with many foreigners living include Evergreen Bac Giang, Van Trung, Noi Hoang (Bac Giang), Kinh Bac, V-city, Cat Tuong, Thong Nhat (Bac Ninh). The Ministry of Construction has sent a document requesting the People's Committees of Bac Giang and Bac Ninh provinces to inspect the situation of foreigners renting and living in social housing areas in the area.
Therefore, the Economic Committee recommends that the Government conduct a comprehensive inspection of social housing development in recent years to find effective solutions; and study and take strong measures against violations of social housing policies and laws.
Along with the sudden increase in apartment prices, the National Assembly's inspection agency stated that the reality is that land prices in inner-city and suburban districts of Hanoi have shown signs of increasing rapidly again, especially in districts with information about upgrading to districts.
In particular, recently, a series of auctions in districts on the outskirts of Hanoi have caused a stir in the market. Specifically, in Hoai Duc district, hundreds of investors participated in an auction that lasted all night, pushing the price of more than a dozen winning plots to over 100 million VND/ m2 . The highest winning plot was priced at over 133 million VND/ m2. - 18 times the starting level.
Some of these auctions attracted thousands of applications, more than ten times the number of plots sold, and the winning bids were also dozens of times higher than the starting price. The situation of "abandoning deposits" after winning the auction negatively affected the price level and the housing market.
Besides, the situation of monopoly, price inflation, wave creation, and land speculation pushes up land prices, causing buying and selling to take place almost exclusively among speculators.
The audit report also reflects that in many suburban areas of large cities, the occupancy rate after "dividing and selling land" is only 5%; meaning that after many years of dividing and selling 100 plots of land, only 5 plots were used (to build houses), while the remaining 95 plots were left abandoned, causing a waste of social resources.
The issue of unfinished real estate inventory is also worth paying attention to when thousands of houses have been abandoned for decades with a huge total value; many new urban areas have a low rate of apartments being used. Meanwhile, people who have a real need to buy houses and land are having to pay a large sum of money to speculators.
“These are issues that can have negative consequences for the country’s socio-economic development. Therefore, some people believe that it is time to define land as a special means of production for society, instead of a commodity to be bought and sold for profit. From there, effective solutions can be found to thoroughly resolve the above situation,” according to the Economic Committee.
Urgently handle social housing projects with legal problems
Previously, on September 23, 2024, at the 37th Session, the National Assembly Standing Committee gave its opinion on the results of the thematic supervision of "Implementation of policies and laws on real estate market management and social housing development from 2015 to the end of 2023".
The National Assembly Standing Committee requested the Government to urgently supplement and complete the proposals and recommend more specific solutions to address the shortcomings and limitations mentioned in the Supervision Report, ensuring feasibility and conformity with the nature of the Supervision Resolution.
These include specific proposals and recommendations to resolve the implementation of stuck and prolonged real estate projects, solutions to control real estate credit flows, the implementation of obligations of enterprises issuing corporate bonds, and the implementation of the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period 2021-2030".
Along with that is the simplification of procedures for purchasing, leasing, renting social housing, simplifying procedures for the 120 trillion VND credit package; reducing housing prices in the market to ensure social security for people, focusing on removing difficulties and obstacles in projects, renovating and constructing old apartments, perfecting regulations on land management and use in the process of equitization of state-owned enterprises.
At the same time, the Government urgently and decisively handles real estate and social housing projects facing difficulties, legal problems, and delays due to prolonged implementation and many changes in the law over time based on a full assessment of the benefits, costs, and feasibility of the solution to protect the legitimate rights of people and businesses, thereby freeing up resources for the real estate market.
For projects that have received conclusions from competent authorities on solutions, it is recommended to promptly complete the proposal documents and submit them to the National Assembly at the nearest session. For other projects, it is recommended to continue reviewing, classifying and developing solutions, and issuing appropriate solutions according to authority. In cases beyond authority, it is recommended to report to competent authorities for submission to the National Assembly for consideration and decision.
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