Proposed To Set Up The Real Estate Market Information Center

The real estate market information center is directly under the People’s Committee of Ho Chi Minh City to manage and exploit data on land, housing, projects.

On the morning of October 13, Le Van Khoa, Vice Chairman of HCM City People’s Committee, chaired the meeting to comment on the project of real estate development in HCMC period 2016-2020, orientation to 2025 and vision to 2030.

The project will assess the real estate market in HCMC from 2006 to present. It will evaluate the positive aspects of the real estate market of houses, offices for rent, hotels, retail space … At the same time, the shortcomings and weaknesses need to be overcome.

Regarding the development orientation of HCMC real estate market in the period of 2016-2020, orientation to 2025 and vision to 2030, Tran Trong Tuan, Director of HCM City Department of Construction, propose to the Government for promulgation or propose to the National Assembly to put into the legal system policies to attract investment in the field of real estate.

To invest in the development of integrated urban infrastructure system. Multi-centered urban development along with modern transportation system. To diversify types of real estate, promote the condominium segment and encourage the building of social houses for low-income people.

Transparent and healthy real estate market is imperative.

Recommend the Government to set up the General Department of Housing Development to run the national housing development strategy. Set up the Housing Development Department under the People’s Committee of Ho Chi Minh City to ensure consistency and timely operation of the market, helping the real estate work healthy and sustainable.

“At the same time, to build a real estate market information center under the People’s Committee of Ho Chi Minh City to manage and exploit data on land, houses and projects. Early development and announcement of real estate market assessment indicators will help state management agencies make policies in line with the market, “said Tuan.

Commenting on the project, expert Tran Du Lich said that the project was very elaborate but described too much without analysis at all. “The goal of the project only to serve the state management does not need elaboration. The main thing is to healthy the market but the project does not analyze where healthy, not where and how state management contributes to how healthy it “- he said.

Consultant Tran Du Lich suggested that the project needs to rectify the primary market if not will not control the real estate. “We are doing a reverse process. Enterprises are assigned land and then request the State to build roads, infrastructure to raise land prices. The housing market is like a full-fledged commercial plane, not a popular one. “

Le Chi Hieu, deputy chairman of the HCM City Real Estate Association (HoREA), said that the Government is drafting a law amending and supplementing a number of articles of the law on investment and business. To submit to the National Assembly for approval by the end of 2016. The method of building a law to supplement and amend many laws has approached the common law of the countries in the world is to amend each law to timely respond to the practical needs of life.

“This is a golden opportunity to make big changes in the lawmaking process, create a legal corridor to build a transparent, healthy and positive business environment and have a positive impact on the real estate market, “Hieu said.

HoREA also proposed a proposal to replace the “land use levy” with the “Land Use Tax on Agriculture to Residential Land” to ensure transparency and the “ask-for” mechanism.

The project will assess the real estate market in HCMC from 2006 to present.

Currently, land use fees are not a tax but are a burden for businesses and consumers to bear when buying a home. For the real estate market to operate under the market mechanism, it is necessary to change the viewpoint of land use fees, which should be considered as a tax.

Mr. Le Van Khoa said that when the project has been issued, three main objectives must be achieved: assessing the current status of real estate, potential opportunities in the spirit of sustainable development, seeking solutions. “When the project is issued, it must have vitality, high feasibility, proximity and immediate impact on the real estate market,” Khoa said.

Vice Chairman of HCMC People’s Committee agrees with the proposal to set up the Real Estate Market Information Center. However, when it was born, the center was located at the Department of Construction or the Institute for Development Studies in Ho Chi Minh City, it must be discussed.

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