Real estate project unfinished for many years in Nhon Trach district. Photo: H.Loc |
This is considered an important solution to reduce speculation, promote the efficiency of land resources and create fairness in access to housing.
Reduce speculation and hoarding of real estate
Since the new laws on Housing, Real Estate Business and Land came into effect from August 1, 2024, the real estate market has begun to recover. Supply and transaction volume have both increased compared to the previous period. However, this recovery is still not commensurate with the potential because the market still has many problems: supply has not met demand, product structure is unreasonable, there is a lack of housing for workers and young people, while there is a surplus of villas; speculation, manipulation and price inflation still occur; many projects are slow to implement or are built and then abandoned.
In order to promote the healthy, equitable and suitable development of the real estate market in accordance with the income of the majority of people, and at the same time limit speculation that distorts the market, the Government issued Notice No. 294/TB-VPCP dated June 9, 2025. In this notice, the Ministry of Finance was assigned to propose a tax policy on housing and real estate that are not put into use this June. In addition, the Government also assigned the Ministry of Finance to develop a tax policy on the difference between the land use fee and the product selling price; collect tax on the difference between transactions to limit speculation and real estate price inflation.
According to the Ministry of Finance, the affected real estate group will include undeveloped residential land, completed but vacant houses, subdivision projects without infrastructure implementation... This tax policy is a financial tool that creates pressure for individuals and organizations to put assets into use for the right purpose and on time.
Many economists and real estate experts believe that taxing unused real estate will contribute to improving land use efficiency, limiting speculation and creating revenue for local budgets to reinvest in infrastructure and serve social security.
The policy of taxing houses and real estate is also consistent with the spirit of Resolution 18-NQ/TW dated June 16, 2022 of the Central Executive Committee on continuing to innovate and perfect institutions and policies, improving the effectiveness and efficiency of land management and use, creating momentum to turn our country into a high-income developed country, emphasizing the need to apply higher tax rates to people who use large areas of land, many houses, speculate on land, are slow to put land into use or leave it abandoned.
Effectively promote land resources
Dong Nai is one of the localities with a vibrant real estate market for many years. Therefore, a series of residential and urban projects have been planned and invested in but have not been completed. If the policy of taxing unused real estate is implemented soon, it will have a positive impact on many areas that are currently in a state of "suspended" planning and "suspended" projects. A typical example is Nhon Trach district, which was expected to become the "new city" of the province more than 20 years ago, but there are many deserted urban areas.
Chairman of Nhon Trach District People's Committee, Mr. Nguyen The Phong once shared that in the area, there are projects that have lasted for decades but have not completed infrastructure, some projects have been completed but left empty, some projects have not been implemented. This makes the locality unable to attract residents, leading to stagnation in socio-economic development of the project area, wasting land resources.
According to Deputy Director of the Department of Agriculture and Environment Dang Minh Duc, Nhon Trach district is not an isolated case. The whole province currently has dozens of residential and urban area projects that have been allocated land or leased land but are being implemented slowly and not on schedule. Many projects have basic infrastructure but investors have not built houses, or have built them but cannot sell them. The existence of abandoned houses and "covered" real estate projects shows that land resources are being seriously wasted. Meanwhile, the demand for real housing, production land and land funds for infrastructure projects is very high.
In fact, in the province, there are many enterprises that apply for land to do projects but do not implement them or implement them at a slow pace. Without strong measures such as: taxing, revoking projects, and punishing violations of progress, it is impossible to completely handle the situation of abandoned land. This not only wastes land resources and delays their use, but also reduces the efficiency of investment in infrastructure projects such as: electricity, water, transportation, schools, etc.
Chairman of the Provincial People's Committee Vo Tan Duc has repeatedly directed localities to proactively review and make a list of slow-to-implement projects, and recommend competent authorities to revoke and remove them from the list of housing development projects according to the province's plan.
The policy of taxing unused houses and land is under construction. If issued and effectively implemented, this will be a lever to help the real estate market develop more transparently and sustainably. People will have more opportunities to access housing at real value, land resources will be exploited effectively, contributing to long-term socio-economic development.
Le An
Source: https://baodongnai.com.vn/kinh-te/202506/se-danh-thue-nha-o-bat-dong-san-khong-su-dung-ce61945/
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