By
Vu Pham, Minh Hue
Mon, February 17, 2025 | 4:57 pm GMT+7
The Vietnamese Ministry of Construction is advancing a plan to establish real estate exchanges, similar to the stock market, in a bid to enhance transparency and efficiency in property transactions.
Real estate exchanges are needed to ensure market transparency. Photo courtesy of VnEconomy.
The initiative is part of a broader push to digitize real estate-related activities, enabling seamless integration of transactions, notarization, tax payments, and land registration on electronic platforms, according to a decision recently signed by Deputy Minister of Construction Nguyen Van Sinh.
The move also aligns with the Prime Minister’s Dispatch No. 03/2025, which aims to curb property price manipulation and speculation, while reinforcing oversight of real estate investment projects.
The ministry’s ultimate goal is to stabilize the real estate market, control soaring land prices, and tackle speculative practices that have inflated property costs in recent years, towards safe, healthy, and sustainable development of the market.
A key aspect of the plan involves proposing piloting a “state-managed real estate and land use rights trading center.”
In collaboration with the Ministry of Public Security, the construction ministry is working to update the national housing and real estate market database, integrating data on citizens, notarization, land, investment, and construction activities.
The ministry, together with the Ministry of Justice, the Ministry of Finance, and the Ministry of Natural Resources and Environment, is exploring securities trading models to facilitate the digitization of real estate transactions, notarization, tax payments, and land registration procedures.
The plan also includes measures to monitor market trends for timely action to stabilize the market.
Real estate transactions via exchanges: A step toward transparency
The idea of conducting real estate transactions through exchanges has gained traction in recent years, particularly following the periods of land price surges.
Experts have pointed out that the Law on Real Estate Business 2024 includes provisions on electronic transactions at real estate exchanges. However, there are currently no specific regulations governing the operation and online business of these exchanges.
Given the high value and complex nature of property transactions, transparency and legal verification are critical. Experts argued that detailed and specific guidelines for electronic real estate transactions via exchanges are essential to ensure the industry adapts to technological trends.
In 2023, Minister of Construction Nguyen Thanh Nghi addressed this issue at the National Assembly, the country’s legislature, noting that transactions involving future-formed real estate have unique characteristics, such as assets that are not yet developed and complex project legalities.
He emphasized that conducting transactions through exchanges would improve transparency, reduce risks of fraud, and clarify actions of market participants, ultimately safeguarding residents from potential financial risks.
From: The Investor
Real Estate News
