Ministries request strict management on real estate market

The Ministry of Construction, on March 30, said that it had sent Official Dispatch No.989/BXD-QLN to the People's Committees of municipalities on strengthening the management of the real estate market.

Accordingly, the Ministry of Construction proposed localities to promptly implement management measures to prevent land fever and real estate bubbles in the area, and publicize information on the planning and implementation progress of infrastructure development projects, especially the merger, establishment, and upgrade of administrative units.

The Ministry of Construction recommends localities to take measures to manage real estate brokerage activities of organizations and individuals in the area and strictly handle violations of the Land Law and related laws.

Along with that, the Ministry of Natural Resources and Environment also sent Official Dispatch No.1454/BTBMT-TCQLDD to localities, requesting them to direct the Department of Natural Resources and Environment and related departments to strictly manage real estate projects, especially real estate formed in the future. Putting real estate into business and transferring real estate projects must meet the conditions as prescribed. They must also inspect and rectify real estate brokerage activity to ensure that this activity complies with regulations. The disclosure of information on the planning and plans must be carried out for people to access official information without information disturbance. Authorities must control virtual transactions and overcharges of land prices and real estate prices. The Ministry of Natural Resources and Environment requests the People's Committees of localities to report the implementation results before May 31.