The Government Office has just issued Notice No. 294/TB-VPCP dated June 9, the conclusion of the Government Standing Committee at the meeting on the real estate market situation.
The area of 19 land lots in Hoai Duc district was successfully auctioned in August 2024 with sky-high prices from 91 to 133 million VND/m2. Photo: HUU HUNG
To promote the real estate market to develop healthily, substantially, equally, civilly, progressively, in accordance with the economic conditions and income of the majority of people, the Government Standing Committee requests Ministers, Heads of ministerial-level agencies, Government agencies and Chairmen of People's Committees of provinces and centrally run cities to review and immediately clarify the causes of the increase in real estate price structure (land prices, raw material prices, loan interest rates, etc.); urgently have plans to reduce the factors that increase real estate prices, increase access to real estate and increase supply.
Focus on minimizing overlapping and unnecessary administrative procedures, immediately eliminating complicated paperwork and records, ensuring at least a 30% reduction in time to handle administrative procedures, 30% reduction in administrative procedure compliance costs in accordance with the Government 's requirements in Resolution No. 66/NQ-CP for the implementation of real estate projects; in which, research on reducing procedures for investment policy approval, project appraisal, design, especially construction licensing procedures, inspection of acceptance work, reducing pre-inspection, and strengthening post-inspection.
Conduct a review, amend, and immediately abolish inappropriate and conflicting regulations and standards that generate costs, such as regulations on planning, parking, and fire prevention. Research and develop support policies for home buyers with real needs and young people, increasing people's access to housing and real estate so that people can exercise their right to housing as stipulated in the Constitution.
Strictly handle organizations and individuals who take advantage of auctions to raise land prices, affecting and hindering real estate development.
Continue to review backlog projects with difficulties and problems to report to the Steering Committee to remove difficulties and problems for projects according to Decision No. 751/QD-TTg dated April 11, 2025 of the Prime Minister (Steering Committee 751), propose mechanisms to remove them.
Research and develop real estate projects with diverse segments and real estate products to increase buyers' accessibility, reduce costs, increase supply, and give people more options suitable to their abilities.
The Government Standing Committee also requested to resolutely and strictly handle acts of speculation, price inflation, and providing false information with the purpose of creating virtual fever and defrauding people for personal gain.
The Ministry of Construction is assigned to preside over and closely coordinate with the Ministry of Agriculture and Environment to urgently research and review the Laws on Housing and Real Estate Business to identify shortcomings, inadequacies, and incompatibility with reality to meet expectations for real estate market development.
Review all Decrees and Circulars on housing and real estate business to propose competent authorities to consider and amend in a simplified order, in which resolutely cut down to the maximum cumbersome administrative procedures that increase costs, eliminate regulations that are not suitable to the development reality, and report to the Government in June 2025.
At the same time, urgently research and build a model of "Real estate and land use rights transaction center managed by the state".
The State Bank of Vietnam directed commercial banks to focus on lending and disbursing loans for commercial housing projects with suitable prices, promoting credit growth, contributing to achieving the growth target of 8% by 2025; cutting procedures and conditions to facilitate people and businesses to access credit capital, while strictly controlling corruption and negativity; researching credit loan packages for young people who want to buy houses.
Focus on directing and urging banks to participate in the preferential credit loan program of 120,000 billion VND, and at the same time research and have a medium-term credit package with stable interest rates for commercial housing projects with suitable prices.
Source: https://nld.com.vn/thuong-truc-chinh-phu-yeu-cau-xu-ly-nghiem-hanh-vi-thoi-gia-tao-sot-ao-bat-dong-san-19625061011203601.htm
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