Kinhtedothi- According to National Assembly delegates, real estate prices in some big cities have increased very high recently, causing the real estate market, which has just recovered, to show signs of instability. Voters are worried about the phenomena of price inflation, creating waves, and disrupting market information...
On the morning of October 28, at the 8th Session, the National Assembly discussed in the hall 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 real estate market management and social housing development from 2015 to the end of 2023".
Real estate market shows signs of instability
Speaking at the meeting hall, National Assembly delegate Nguyen Thi Thuy (National Assembly delegation of Bac Kan province) highly appreciated the Government's determination since the beginning of the term, organizing many conferences and working sessions directly with businesses to remove difficulties and promote the safe, healthy and sustainable development of the real estate market.
Regarding the recent increase in real estate prices in some major cities, National Assembly delegate Nguyen Thi Thuy said that real estate prices in some major cities have increased very high in recent times, especially in Hanoi and Ho Chi Minh City, causing signs of instability in the real estate market that has just recovered. Voters are worried about the phenomenon of price inflation, creating waves, and disrupting market information.
According to delegate Nguyen Thi Thuy, at the press conference on October 17, the representative of the Ministry of Construction commented that the recent high increase in real estate prices is unreasonable and unusual. Since the beginning of the year, real estate land prices and real estate prices have continuously increased in all segments, from apartments to townhouses, to villas..., not only in the central areas but the heat is gradually spreading to the suburban district markets.
Not only the central areas, but the heat has also spread to suburban districts, especially the sudden increase in prices of apartments (both new and old), doubling, even tripling compared to the previous period. In addition, the story of land auctions in some suburban districts has also heated up, up to more than 100 million/m2, equivalent to project land with infrastructure investment and continuously establishing new ground, far exceeding the income of the majority of people.
Delegate Nguyen Thi Thuy also said that speculation and price inflation are the main reasons for the recent high increase in real estate prices. Some investors inflate prices and disrupt market information to manipulate people's psychology for their own gain. The third reason is the mentality of a group of people who buy real estate to wait for prices to increase, and this trend is increasing, and there is currently a serious shortage of supply for low-income people...
Therefore, delegate Nguyen Thi Thuy suggested that the Government continue to have attractive incentive policies to encourage businesses to develop the commercial housing segment to suit the budget of the majority of workers. At the same time, she recommended that the Government resolutely direct to remove obstacles of current housing projects. Along with that, research and implement strong measures to control the situation of real estate speculation in recent times.
Real estate market is difficult to value
According to National Assembly delegate Pham Van Hoa (National Assembly delegation of Dong Thap province), in recent times, the real estate market, especially before the Covid-19 pandemic, has developed very strongly in both quantity and quality, many new urban areas have been formed, especially in Hanoi and Ho Chi Minh City; many new types such as tourist apartments, resort villas, offices combined with accommodation, high-rise apartments have sprung up, occupying both high-end and low-income housing spaces in the inner city to the suburbs... However, at this time, land prices are hot, land prices are high, demand for housing is not high, mainly buying for speculation, renting, the real estate market is unstable, half-false, half-true, difficult to price.
Delegate Pham Van Hoa said that after the Covid-19 pandemic, the real estate market fell sharply, any business that kept prices high and sold slowly encountered difficulties because most of them borrowed credit. "Real estate is almost frozen, some businesses have reduced their selling prices to 2/3 of the original price but there are still few buyers, proving that people do not have a high demand for high-end housing, while the demand for housing for low-income people is very high but is not built for sale" - the delegate said.
At the same time, it is believed that the reason is that the State's policies in areas such as finance, banking, land... for social housing have not encouraged investors; the 120 trillion VND credit package has been slow to disburse, many legal documents are still overlapping and unclear. At the same time, many localities have not reached the social housing rate as prescribed, if there are only a few apartments that have been purchased or rented, it has not met the demand; urban land funds are mainly bid for projects for commercial housing, while social housing depends on 20% of commercial housing projects.
On the other hand, there are still shortcomings such as the slow issuance of detailed guiding documents, many amendments and supplements, so the implementation is still confusing, there are still contradictions and inconsistencies in urban planning and land use planning. "The implementation of investment in the construction of 1 million social housing apartments in the 2021-2030 period has not met requirements, some localities have just started implementing due to difficulties in budget capital, mostly from socialized sources. Investors still have difficulties in accessing land, receiving land use rights transfer, changing land use purposes is still stuck due to changes in legal regulations, slow land valuation by localities is also the reason why real estate and social housing projects are stalled" - the delegate pointed out.
The delegate emphasized that the National Assembly's supervision work has pointed out the advantages, limitations, shortcomings, and lessons learned in directing, organizing, and implementing the management of the real estate market and implementing social housing for low-income people. The delegate believes that in the coming time, with the concerted efforts of the National Assembly, the Government, ministries, branches, localities, businesses, and people, the real estate market will have positive changes, social housing will develop, many localities will join hands to implement, subjects under housing policies will have enough conditions to access housing, stabilize their lives, settle down and work; real estate businesses will feel secure in investing in the commercial housing market, social housing, stimulating consumption, promoting socio-economic development, and stabilizing people's lives.
There are more specific solutions to remove obstacles
Speaking at the meeting on land valuation, National Assembly delegate Nguyen Van An (National Assembly Delegation of Thai Binh province) said that although the report pointed out many shortcomings, limitations and major obstacles in land valuation, the solutions related to land valuation proposed in the draft Resolution are still general and not specific enough to resolve practical problems.
Therefore, delegate Nguyen Van An said that it is necessary to review and perfect solutions in a more specific direction, with a clear implementation timeline to remove obstacles... In addition, the draft Resolution also stipulates not to legalize violations to improve the effectiveness of law making and enforcement. Regarding this content, it is necessary to consult with government agencies and have specific instructions on legalizing violations.
"In reality, localities will be very confused because they do not know how to legalize violations" - delegate Nguyen Van An emphasized.
Source: https://kinhtedothi.vn/dbqh-thi-truong-bat-dong-san-thoi-gia-tao-song-gay-nhieu-loan-thong-tin.html
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