The Ministry of Construction will submit a plan to the Prime Minister on promoting stable and healthy development of the local real estate market (Photo: VNA) Hanoi (VNA) - The Ministry of Construction will submit a plan tothe Prime Minister on promoting stable and healthy development of the localreal estate market in this year’s fourth quarter.
This plan will assessthe market situation, forecast medium-term development trends and proposesolutions, mechanisms and policies to enhance sustainable development of thereal estate market.
It is expected to remove difficulties in the market, and in particular lead totransparency.
Notably, under theGovernment’s policy, housing products for low and middle-income people willgradually meet demand. However, to ensure these goals, a financial solution isalso very important and requires coordination among the relevant ministries.
Since the beginning of2017, the real estate market has continued to maintain steady growth. Price,transaction volume and liquidity have been stable and inventory has continuedto decrease, according to the plan. The structure of property products is continuouslyadjusted according to demand, while credit in the real estate sector hasmaintained healthy growth.
Especially, stronggrowth in the tourism and resort real estate market in some coastal areas suchas Da Nang, Nha Trang (Khanh Hoa), PhuQuoc (Kien Giang) has attracted domestic and foreign investors.
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At present, the ministry has enhanced inspection and supervision to implementregulations and collected data on housing and the real estate marketnationwide.
The ministry has requested localities to prepare reports on implementing urbanarea projects, housing development projects and large-scale resort real estateprojects. The localities must inspect the development of high-end real estateprojects using a large area of land at some key locations. They must alsostrengthen inspection and supervision for implementing investment for theconstruction of administrative complexes in the localities.
However, people andbusinesses expect state agencies to build, manage and use information systemson housing and the real estate market. So far, the systems have not beencompleted, despite having a plan in place to develop them for many years. Thisaffects the value of the report or forecasts on the real estate marketpublished from the survey of consultancy units.
❀ The information system onthe real estate market is very important because state management agenciesassess the market while businesses implement transactions based on the system.-VNA
