Prime Minister requests strict handling of real estate speculation that creates virtual prices

Báo Dân tríBáo Dân trí15/01/2025

(Dan Tri) - The Prime Minister requested the Minister of Construction to direct and coordinate with the Ministry of Public Security and local People's Committees to inspect, examine and review projects with unusual price increases.


Strictly handle the act of providing false information with the purpose of creating virtual fever and defrauding people for personal gain.

Prime Minister Pham Minh Chinh has just signed an official dispatch requesting ministries, branches and localities to focus on rectifying and handling price manipulation, real estate speculation and inspecting and examining real estate investment and construction projects.

Accordingly, in 2024, some areas recorded real estate prices increasing higher than people's financial ability. The reason is that some speculative groups and associations took advantage of people's lack of understanding and herd mentality to manipulate psychology, "push up prices", "create virtual prices" and disrupt market information for profit.

In addition, some real estate project investors take advantage of the limited real estate supply situation to offer higher prices than the average of the projects to make profits. The results of the auction of land use rights are unusually high in some areas, causing the land price and housing price to increase.

To strengthen control and promptly handle real estate manipulation, price hikes and speculation, the Prime Minister requested the Minister of Construction to preside over and coordinate with the Ministry of Natural Resources and Environment and relevant ministries and branches to study and propose a pilot project on the model of a State-managed real estate and land use rights transaction center to report to the Prime Minister in the second quarter of this year.

Thủ tướng yêu cầu xử nghiêm hiện tượng đầu cơ bất động sản tạo giá ảo - 1

The Prime Minister requested to study and propose a pilot project for the model of "Real estate and land use rights transaction center managed by the State" (Photo: VGP).

The Ministry of Construction will coordinate with the Ministry of Public Security to update, complete, and operate the national database system on housing and real estate market connected to the national database on population, notarization, land, investment, construction activities, etc. to be completed this year.

The Ministry of Public Security also needs to direct and coordinate with the Ministry of Public Security and the People's Committees of provinces and cities to inspect, examine and review the real estate business activities of enterprises, investors, real estate trading floors and real estate brokers in the area. Especially in areas and projects with unusual price increases to promptly correct, prevent and strictly handle violations according to authority.

The Prime Minister also assigned the Minister of Public Security to direct professional units and local police to proactively grasp the situation, promptly detect, investigate and strictly handle according to the law organizations and individuals who violate the law to the extent of having to prosecute criminal liability in the auction of land use rights; provide false information with the purpose of creating virtual fever and defrauding people for personal gain.

Research and propose tax policies to limit speculation

Regarding the Ministry of Natural Resources and Environment, the Prime Minister requested to direct and coordinate with the People's Committees of provinces and centrally-run cities to strengthen inspection, examination, and review of land price determination activities, issuance of land price lists, compensation, site clearance, and auction of land use rights...

Leaders of the Ministry of Natural Resources and Environment also need to promptly rectify, prevent and strictly handle violations within their authority, especially acts of taking advantage of land use rights auctions for personal gain, causing market disruption.

The Minister of Finance is assigned to research and propose tax policies to limit real estate speculation, ensuring compliance with Vietnam's socio-economic conditions and international practices....

In particular, study the plan to collect tax on the price difference between the land use fee calculation price and the selling price of real estate products of projects; collect tax on the difference in transactions, report to the Prime Minister before April 30.



Source: https://dantri.com.vn/bat-dong-san/thu-tuong-yeu-cau-xu-nghiem-hien-tuong-dau-co-bat-dong-san-tao-gia-ao-20250115210100581.htm

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