According to the Chairman of the Economic Committee, real estate prices are still high compared to the income of the majority of people; many urban areas are abandoned; and there are many shortcomings in the management of mini apartments.
Imbalance of supply and demand in real estate and social housing market
On the morning of October 28, at the National Assembly House, continuing the 8th Session Program, chaired by National Assembly Chairman Tran Thanh Man, National Assembly Conduct a discussion in the hall about the Report of the Supervisory Delegation and the draft Resolution of the National Assembly on the results of the thematic supervision of "implementation of policies and laws on market management". real estate and social housing development from 2015 to the end of 2023".
Chairman of the Economic Committee Vu Hong Thanh said that this is a difficult monitoring topic; the content and scope of monitoring is wide because the real estate and social housing market is related to many different sectors and fields, and is related to the management responsibilities of many ministries, branches and localities.
During the monitoring period, there were many changes in policies and laws; the scope of monitoring not only included newly implemented projects but also many projects that had been and were being implemented before, real estate transactions were very diverse, leading to information and data that could not be fully collected and clearly separated.
Regarding the promulgation and implementation of policies and laws on real estate market management and social housing development, Mr. Vu Hong Thanh said that developing and strictly managing the real estate market, perfecting laws, mechanisms and policies to develop and operate the real estate market smoothly, promoting housing development, innovating methods and models of management and development of social housing are important orientations identified in many Party documents.
With the attention and drastic direction of the Party and State, the promulgation and implementation of policies and laws on real estate market management and social housing development in recent times have achieved many remarkable results, contributing effectively to promoting socio-economic development, urban development and improving people's living conditions.
In the period of 2015-2023, the real estate market has made progress in terms of scale, type, quantity, form of capital mobilization and participating entities; creating a large amount of material facilities for society, helping production, business and service sectors develop and improve living conditions for all classes of people, contributing significantly to socio-economic development and economic growth of the country, at the same time, contributing to the implementation of social security policies, gradually meeting the housing needs of the people.
By the end of the monitoring period, there were approximately 3,363 commercial housing and urban area development projects that had been and were being implemented with a land use scale of approximately 11,191 hectares; 413 industrial parks were established with a total industrial land area of approximately 87,700 hectares.
About Social housing, about 800 projects have been implemented with a scale of 567,042 units, of which: 373 projects have been completed with a scale of 193,920 units; 129 projects have started construction with a scale of 114,934 units; 298 projects have been approved for investment with a scale of 258,188 units.
In addition to the achieved results, the real estate and social housing market still has many shortcomings, inadequacies, unsustainable development, imbalance of supply and demand; real estate prices are still high compared to the income of the majority of people; many urban areas are abandoned; management of mini apartments still has many shortcomings; there is no effective solution to handle and resolve old apartment buildings that do not ensure living conditions for people; many projects are stuck and slow to be implemented. New types of real estate face many legal problems, lacking clear and specific regulations.
Project delays are becoming a common occurrence.
Regarding the implementation of real estate and social housing projects, investment procedures and processes, and land access conditions, Mr. Vu Hong Thanh informed that the implementation of investment in real estate and social housing projects is increasingly standardized. However, the procedures are still complicated, investors must carry out many procedural steps according to the provisions of many different legal documents that lack connectivity and consistency, some regulations overlap and lack consistency, leading to congestion in project implementation.
Administrative reform still has many shortcomings; the processing of documents is slow, often taking longer than the time limit prescribed by law; many procedures have no defined time limit. Project appraisal, project adjustment, and construction design adjustment based on approved detailed planning are still complicated. Project delays have become a common situation, greatly affecting the business plans of investors and customers who have paid.
Access to land is still difficult. Many localities are still confused about organizing bidding for projects using land, calculating the floor price to be paid to the state budget ( m3 ) according to the provisions of the law on bidding, and determining the time of land allocation to determine land prices. Land use rights auctions show signs of irregularity, creating high land prices; the auction process is still complicated.
The transfer of land use rights and change of land use purpose to implement commercial housing projects encountered difficulties due to changes in legal regulations; some projects could not negotiate the entire land area, so they could not implement or complete the project.
Localities are still confused about the allocation and lease of land originating from the equitization of state-owned enterprises and forestry farms; the arrangement of real estate facilities of state agencies; the implementation of the build-transfer form (BT projects); and the use of land funds for payment according to signed BT contracts.
The slow land valuation situation occurring in many localities is the main obstacle leading to the stagnation of many real estate projects. The issuance of certificates of land use rights, house ownership rights and assets attached to land is still stuck, especially for new real estate products.
Some real estate projects still face many difficulties due to the prolonged implementation process due to changes in the law over time, leading to difficulties that are difficult to resolve. In addition, in many localities, the implementation of legal reviews of real estate projects according to inspection and audit conclusions is prolonged and has not yet produced results, leading to delays in handling procedures for implementing real estate projects, causing economic losses for businesses and customers who have purchased real estate.
Regarding social housing, localities have basically paid attention to allocating land funds for social housing construction when establishing and approving plans and when approving investment policies for commercial housing projects, they must allocate 20% of land funds for social housing. However, many localities have not yet allocated independent land funds for social housing development; social housing development mainly depends on the 20% land fund in commercial housing projects, but implementation still has many shortcomings and obstacles.
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