This initiative aims to increase transparency in asset pricing and management, prevent tax losses.

Gov’t initiative to study online real estate trading

The Government has tasked the Ministry of Construction, in coordination with the Ministry of Agriculture and Environment, to urgently develop a model for a “State-Managed Real Estate and Land Use Rights Transaction Center” on an electronic platform, ensuring transparency and public access, according to an announcement released by the Government Office on June 9 on the conclusion of the Government Standing Board at its recent meeting on the real estate situation.   

The proposed system will facilitate real estate transactions and related procedures, including notarization, taxation, and land registration, operating similarly to a securities trading model.

This initiative aims to increase transparency in asset pricing and management, and prevent tax losses.

In addition, the two ministries will work closely with each other to review Land Law regulations, ensuring consistency in state management of land, real estate, and housing. A specific focus will be placed on site clearance policies to ensure alignment with practical project implementation.

Meanwhile, the Government has assigned the State Bank of Vietnam to direct commercial banks to prioritize lending and loan disbursement for commercial housing projects at reasonable interest rates.This effort is expected to stimulate credit growth and contribute to Vietnam’s 8% GDP growth target for 2025.

At the same time, financial authorities will streamline loan application procedures, making it easier for individuals and businesses to access credit while maintaining strict oversight to prevent corruption and financial misconduct.

Additionally, banks will be urged to participate in the VND120 trillion ($4.6 billion) preferential credit program for social housing projects and explore new credit packages for young homebuyers.

Plans are also underway to develop a medium-term credit package with stable interest rates, specifically supporting affordable commercial housing projects.