(Construction) - With the permission of the Chairman of the Q&A session at the 3rd session of the XV National Assembly, on the afternoon of June 8, Minister of Construction Nguyen Thanh Nghi clarified a number of issues. related to the real estate market.
National Assembly Chairman Vuong Dinh Hue moderated the interrogation session on the afternoon of June 8.
Real estate market thrives
Minister Nguyen Thanh Nghi commented: The real estate market is one of the important markets of the economy, playing an important role in attracting resources, creating fixed assets for the economy, and promoting economic growth. push many economic sectors and other fields to develop together, meet the needs of people's accommodation, urban development, industry and tourism.
Over the past time, our country's real estate market has had a strong development in terms of scale, qualifications, capacity and experience of market participants..., making an important contribution to economic development and stability. macroeconomic stability, ensuring the country's social security.
Minister of Construction Nguyen Thanh Nghi proposed many solutions to develop a healthy real estate market.
The minister said that up to now, the system of policies and laws related to the real estate sector has been basically completed, including the Law on Real Estate Business 2014, the Law on Land, the Law on Housing, the Law on Investment, the Law on Bidding, and the Law on Bidding. Law on Construction… and many Decrees and Circulars were issued, creating favorable conditions for real estate investment and business activities.
In 2021 and the first quarter of 2022, the real estate market, although still facing many difficulties due to the impact of the epidemic, has adapted and gradually changed, showing signs of recovery and development. Total real estate transactions were higher than in the previous quarter and the same period in 2021. Product absorption rates in most segments were high and there was almost no new real estate backlog. The vacancy rate of offices and commercial space for lease is gradually decreasing…
There are many signs that the real estate market is not stable and not healthy
According to the Minister of Construction, besides making positive contributions to the country's economic development and ensuring social security, the real estate market is revealing limitations and inadequacies.
Minister Nguyen Thanh Nghi frankly pointed out the unstable and unhealthy signs of the real estate market, including: The legal system related to land, investment, construction, real estate business... still remains. still inadequate, need to amend to unify; Difficulty in real estate supply, including supply of commercial housing, supply of social housing, housing for workers); The structure of real estate products is not suitable (mostly real estate in the mid-range, high-end housing segments, tourist real estate, meanwhile, there is a sharp lack of social housing, housing for workers and commercial housing at affordable prices. suitable for low- and middle-income subjects).
Real estate prices, especially houses and residential land, are continuously increasing and higher than people's incomes. "This makes it more difficult for low-income workers in urban areas and industrial zones to access and create accommodation," the Minister said. It is even more remarkable that from 2021 up to now, in many localities in some areas, there has been a phenomenon of sudden price increases, fever of land prices (with an increase of 30-50%, even higher than compared to the previous year). with the end of 2020).
Real estate trading floors operate unstable; Real estate brokerage activities are not well controlled; There are shortcomings and shortcomings in the management of construction planning, land use planning and real estate market in the localities; The control of investment capital flows into the real estate sector is still not tight and there are potential risks.
Tax policies for real estate use and real estate trading and trading activities have not yet differentiated between use and investment, business, purchase and resale, leading to speculation and hoarding of real estate. tax evasion in real estate transactions, causing loss of budget revenue.
The operation of the real estate market is still lacking in publicity and transparency due to the lack of an information system, leading to exploitation, information dissemination, market disturbances, etc.
Strengthen management of the real estate market
In order to ensure the stable, healthy, efficient and sustainable development of the real estate market, and contribute more positively to the development of the economy, Minister Nguyen Thanh Nghi proposed a number of key solutions.
Firstly, urgently study and perfect the legal system related to the real estate sector to ensure synchronization, remove difficulties and obstacles, create a legal framework and conditions for the stable development of the real estate market. healthy and sustainable. At the same time, strengthen the management of the real estate market; increase supply, especially create conditions to promote the development of social housing, housing for industrial park workers, housing for the low-income segment...
Secondly, closely monitor the situation and developments of the real estate market to promptly have solutions to stabilize and healthy the market when necessary. Check and review housing projects, real estate business to promptly remove obstacles in investment procedures, land, planning, construction ... to promote the deployment to create supply for the market.
Third, review and supplement the planning, allocate enough land fund to develop social housing, housing for workers in accordance with regulations; promote the renovation of old apartment buildings.
Fourth, control and restructure real estate credit to ensure proper use and avoid risks; Continue to create favorable conditions for lending to the real estate sector in accordance with the law; Competent, reputable enterprises with good projects that meet the conditions need to be facilitated to access credit sources to develop real estate projects to contribute to increasing supply; continue to lend to fully legal and effective projects; Prioritize lending to commercial housing, social housing, and worker housing projects that are licensed and commenced to create supply for the market.
Strictly control the issuance of corporate bonds in real estate; Research and propose tax regulations for the use of real estate, transaction activities, real estate business to limit speculation and hoarding of real estate; Research, review and amend regulations related to auction of land use rights, determine land prices to ensure uniformity and suitability to local realities.
Fifth, urgently organize the elaboration, appraisal and approval of urban and rural construction plannings, master plans and plans on land use and construction of urban and rural areas.
Governor of the State Bank Nguyen Thi Hong answered questions.
Responding to questions, the Governor of the State Bank Nguyen Thi Hong said: The policy of the State Bank is that credit expansion must go hand in hand with safety and efficiency; focus capital on production and business and control capital in potentially risky areas.
Real estate credit is the most concern of banking activities because of the great risk. The nature of real estate credit is usually large value, long term. Meanwhile, deposits of the banking system are short-term deposits. Therefore, the State Bank has legal regulations to control risks. The State Bank also has regulations and directs credit institutions that when lending loans with secured assets, they must regularly re-evaluate collateral assets to identify risks of loans. that loan.
Running a question-and-answer session, related to finance for the real estate market, the National Assembly Chairman suggested: With the real estate market, it is necessary to inspect, check and supervise early and remotely to avoid the case of "losing new cows". take care of the barn". All markets must be transparent, on the one hand, must closely monitor and manage that market, and on the other hand, must create favorable conditions for that market to develop.
The National Assembly Chairman suggested that it is necessary to correct and handle the distortions and damage of the market, rather than closing and limiting the development of the market. Therefore, policies for finance, for the economy cannot be jerky, must be consistent, smooth, and must have provisions for many different contents.
According to the direction of National Assembly Chairman Vuong Dinh Hue, next week, Minister of Construction Nguyen Thanh Nghi will continue to report to the National Assembly on the implementation of the 2% interest rate support package. old residences, invest in building houses for low-income people, social houses for sale, for rent or hire-purchase...
