Real estate transactions are not always good when listed on the stock exchange.

On the afternoon of August 24, continuing the 25th session, the National Assembly Standing Committee gave opinions on explaining, accepting, and revising the draft Law on Real Estate Business (amended).

Giving his opinion at the meeting, National Assembly Chairman Vuong Dinh Hue noted the need to perfect the legal basis and increase cashless payments in real estate transactions.

" If payment is made through banks, not using cash, then whether there is a floor or not is still transparent. The important thing is not to force people to go to the floor but to control the cash flow, " said the National Assembly Chairman.

Recalling the period when the economy had to pay a high price for gold trading floors, Mr. Vuong Dinh Hue emphasized that the market needs to operate according to market principles.

According to the National Assembly Chairman, currently, many real estate corporations have a company specializing in distribution or are associated with another unit in distribution, in some cases through secondary investors.

" Not all transactions are on the floor, connecting buyers and sellers. Real estate corporations distribute a lot themselves, don't worry about them. Having a floor is not always good, " said Mr. Vuong Dinh Hue.

The National Assembly Chairman commented that with full market information and cashless payments, transparency is natural.

" I believe that if the floor is professional and transparent, everyone will follow it. If you don't force them, they will still follow it. But if you are not good, people will still avoid participating. Don't force people to do things they don't want to do, or if you can't manage it, ban it, " said the National Assembly Chairman.

Regarding the responsibility of state management of real estate business, Mr. Vuong Dinh Hue stated that the draft law only stipulates the responsibility of the People's Committees of provinces and centrally-run cities and does not stipulate the responsibility of the People's Committees of lower levels such as districts and communes.

He suggested that relevant agencies coordinate to continue to carefully review this content, whether there are regulations on the responsibility of other levels or whether it can be delegated.

National Assembly Chairman Vuong Dinh Hue also proposed reviewing the content of the housing and real estate market information system in the draft law to fully regulate it and meet the requirements of having a market information system.

Accordingly, the draft law stipulates that the information system on housing and real estate market includes the following components: information technology infrastructure; software for management, operation, and exploitation of information on housing and real estate market; database on housing and real estate market.

However, according to the National Assembly Chairman, in the components of the housing and real estate market information system, only the content of the housing and real estate market database is specifically regulated. However, the information technology infrastructure and software serving the management, operation, and exploitation of housing and real estate market information have not been clearly shown.

" Therefore, it is necessary to add issues regarding the principles of these two contents to the draft law to ensure the process of building and operating the information system effectively after the law is promulgated ," the National Assembly Chairman added.

Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai requested the presiding agency and the drafting agency to continue reviewing and researching to ensure the consistency and synchronization of the legal system, especially with the draft Land Law (amended), Housing Law (amended) and the Laws on construction, planning, investment, bidding, trade, notarization, Civil Code...

Mr. Nguyen Duc Hai assigned the Economic Committee to coordinate with relevant agencies to review, absorb and fully explain the opinions of members of the National Assembly Standing Committee at the meeting and the opinions of National Assembly deputies at the upcoming Conference of specialized National Assembly deputies. At the same time, the Economic Committee will collect opinions from National Assembly delegations, agencies, organizations and agencies to complete the draft law dossier to submit to the National Assembly for consideration and approval at the 6th session.

English

Source