Real estate market regulation must be timely.

On the afternoon of July 16, Deputy Prime Minister Tran Hong Ha chaired a meeting to listen to reports on the completion of two draft Decrees: Detailing a number of articles of the Law on Real Estate Business; and Detailing a number of articles of the Housing Law on renovation and reconstruction of apartment buildings.

Deputy Prime Minister Tran Hong Ha chaired the meeting. Photo: VGP

Regarding the draft Decree detailing a number of articles of the Law on Real Estate Business, Deputy Minister of Construction Nguyen Van Sinh said that the drafting agency has accepted and added regulations allowing the transfer of existing real estate sale and purchase contracts but has not yet been granted a Certificate of Land Use Rights.

At the same time, decentralize to the provincial People's Committee to organize examinations and issue practice certificates; develop contract templates in the appendix issued with the Decree...

Notably, delegates spent a lot of time clarifying and unifying regulations on individuals doing small-scale real estate business; not for business purposes and below small scale according to criteria on contract value, number of sales and transfers of real estate in 1 year.

Representatives of associations and real estate businesses have provided additional comments on the transitional handling regulations for cases where outstanding credit and bond balances exceed the provisions of this Decree.

Along with that, additional sanctions will be added for real estate business management agencies that do not comply with their authority in carrying out procedures to notify future housing that is eligible for sale, lease-purchase, etc.

From an expert perspective, Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council, proposed adding regulations to determine the threshold of real estate market fluctuations to the point where it is necessary to implement solutions to regulate the real estate market.

In response to this proposal, Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to accept and institutionalize the implementation time of steps and procedures for regulating the real estate market, ensuring feasibility, timeliness and suitability.

The Deputy Prime Minister also requested the drafting agency to seriously absorb and complete the comments; coordinate with the Ministry of Justice to urgently review the entire content of the two draft decrees and drafting techniques, ensuring the highest quality before submitting them to the Prime Minister for consideration and promulgation.

Source: https://nld.com.vn/pho-thu-tuong-dieu-tiet-thi-truong-bat-dong-san-phai-kip-thoi-196240716211023059.htm