Building a professional real estate trading floor management mechanism

Kinhtedothi - To control real estate prices, National Assembly deputies proposed requiring auction participants to prove their financial ability to purchase assets, and building a mechanism to manage professional real estate trading floors in some major cities...

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".

National Assembly Delegate Hoang Van Cuong (National Assembly Delegation of Hanoi ) speaks at the hall. Photo: Quochoi.vn

Bidders must demonstrate financial capacity.

Highly appreciating the report of the Supervisory Delegation on “implementation of policies and laws on real estate market management and social housing development from 2015 to the end of 2023”, National Assembly delegate Hoang Van Cuong (National Assembly Delegation of Hanoi) emphasized that the outstanding thing is that real estate prices in big cities are very high and continuously increasing, exceeding the payment level of the majority of people in need of housing, while income from real estate is low compared to the cost of real estate investment.

According to delegate Hoang Van Cuong, the abnormally high real estate prices are due to the increase in people buying real estate for savings, causing cash flow to be pushed here, not flowing into production and business; the real estate supply is increasingly scarce; in addition, market forces such as brokers and auctioneers deliberately push prices up to make a profit.

To control real estate prices, delegate Hoang Van Cuong proposed requiring participants in land auctions to prove their financial ability to purchase the property, in order to eliminate those who only bid for resale. At the same time, immediately implement Article 31 of the Law on Prices on checking price formation factors when there are unusual fluctuations, and at the same time require businesses to declare their initial selling prices on the secondary market. In addition, build a mechanism to manage professional real estate trading floors in a number of major cities, in order to transparently manage market operations.

Delegates of the Hanoi National Assembly Delegation attended the meeting on the morning of October 28 - Photo: Nhu Y

Regarding social housing development, delegate Hoang Van Cuong said that low-income people often do not have enough savings to buy a house, or even enough money to pay bank interest. The delegate proposed increasing the supply of rental housing for low-income people, so that they can rent a house for life and switch to buying commercial housing when qualified.

Removing obstacles and inadequacies in policies and laws

Speaking at the meeting, National Assembly delegate Tran Van Tuan (National Assembly delegation of Bac Giang province) said that the system of legal documents in this field in the period of 2015-2023 has continued to be improved, contributing to creating momentum for economic development and stabilizing social security... Besides the achieved results, the delegate said that in reality, many limitations and shortcomings have been revealed, and many targets have not yet met the set goals... Notably, the promulgation and implementation of legal policies on real estate market management and social housing development still have many shortcomings.

National Assembly Delegate Tran Van Tuan (National Assembly Delegation of Bac Giang Province) speaks at the hall. Photo: Quochoi.vn

Accordingly, detailed regulations and guidance on law implementation are slow to be issued, of low quality, and some regulations are not suitable for reality. In addition, many localities have not yet issued full legal documents under their authority to detail and guide the implementation of the Land Law, the Law on Real Estate Business, the Housing Law, etc. Some legal documents issued by the Government and relevant ministries and branches still have many contents that have not been specified in detail and clearly guided.

In the coming time, delegates suggested that it is necessary to include in the draft Resolution the task of continuing to improve the effectiveness and efficiency of implementing policies and laws on real estate market management and social housing. Accordingly, the Government and relevant ministries and branches need to regularly and urgently pay attention to, review and complete detailed regulations and guidelines for the implementation of newly issued laws, ensuring that limitations and difficulties are overcome, and regulations are clear, effective and feasible when implemented in practice.

National Assembly Delegate Dang Bich Ngoc (National Assembly Delegation of Hoa Binh Province) speaks at the hall. Photo: Quochoi.vn

Sharing the same view, National Assembly delegate Dang Bich Ngoc (National Assembly delegation of Hoa Binh province) suggested promptly removing institutional bottlenecks and thoroughly handling projects with legal problems. In particular, the Government continues to thoroughly review the shortcomings and limitations of policies and laws in real estate market management and social housing development.

In addition to 22 issues that are still problematic and inadequate in terms of policies and laws after the Law on Real Estate Business, the 2023 Housing Law and the 2024 Land Law were promulgated, delegate Dang Bich Ngoc said that it is necessary to continue reviewing, researching and proposing timely and synchronous solutions to quickly remove institutional bottlenecks, appropriately resolve and thoroughly handle real estate projects that are facing difficulties, legal problems, and stagnation due to the prolonged implementation process and many changes in laws over time, meeting the requirements for sustainable development of the real estate and social housing markets.

In addition, the institutional inadequacies and overlaps pointed out in the monitoring report are extremely important bases for drafting agencies to update, research and amend draft laws right from this Session, especially laws on urban and rural planning and the Law on Public Investment. In particular, it is necessary to study regulations in the direction of promoting decentralization and delegation of power to localities in order to enhance the role, initiative and responsibility of local authorities in accordance with their capacity and associated with resource allocation...

Source: https://kinhtedothi.vn/dbqh-xay-dung-co-che-quan-ly-san-giao-dich-bat-dong-san-chuyen-nghiep.html