Determination to transparentize the market and close the "gap" in transactions
According to the Vietnam Real Estate Market Assessment Research Institute (VARS IRE), in recent years, the Vietnamese real estate market has had many shortcomings, notably the situation of untransparent transactions, fragmented information and uneven distribution among market participants.
The reality of information asymmetry between businesses, investors and buyers has created conditions for speculation, price inflation and profiteering, causing the market to develop distortedly at many times, posing risks not only for people and investors but also for the safety of the financial system.
Recently, Prime Minister Pham Minh Chinh urgently directed the pilot operation of a cryptocurrency exchange, and at the same time established a Real Estate and Land Use Rights Trading Center managed by the State, with the goal of deployment in February 2026. The Prime Minister's direction shows a very high determination in establishing a transparent transaction mechanism with direct regulation from the State, thereby gradually standardizing the market and protecting the legitimate rights of participating parties.
VARS IRE believes that this is a correct policy, in line with the trend of real estate market management in many countries around the world.
In many countries such as the US, UK, Japan, South Korea or China, real estate transaction activities are placed in a centralized, transparent management ecosystem, with unified data and high digitalization processes.
In particular, the model of a centralized real estate transaction center managed by the State in China is a typical example. Observing reality shows that Chinese people can complete all real estate transfer procedures, from receiving dossiers, legal verification, tax declaration to issuing certificates, in less than two hours, with a clear, transparent process and very convenient experience.
These transaction centers play a "core axis" of the market, directly connected to the consolidated real estate database system nationwide. Meanwhile, private exchanges and brokerage companies play a satellite role, creating a balanced ecosystem between state management and market operation, ensuring three core elements: safety - efficiency - quality.
Positive multi-dimensional impact on Vietnam's real estate market
VARS IRE believes that the establishment of the Real Estate and Land Use Rights Trading Center managed by the State is expected to bring many positive impacts.
Accordingly, all information related to real estate, from legal aspects, prices, mortgage status, transaction restrictions... are standardized and publicized, contributing to preventing fraud and protecting the legitimate rights of people and businesses.
At the same time, the transaction center will become a focal point for market data, helping management agencies closely monitor supply and demand developments, prices, and promptly detect abnormal signs such as speculation, price inflation, and market manipulation to have appropriate regulatory measures.
Digitizing the entire transaction process allows people and businesses to register, notarize, declare taxes, transfer ownership... on an online platform, helping to save time, costs and reduce the burden on the administrative apparatus. When information is transparent and complete, investors, credit institutions and people will make more accurate decisions, contributing to increasing market confidence and attracting domestic and foreign investment resources.
However, one of the prerequisites for forming a real estate transaction center is that the database must meet the criteria "right - sufficient - clean - living". This is also the content that the Government is focusing on directing, associated with the completion of the real estate identification system.
In fact, the data of each real estate not only stops at basic descriptive information but also includes the entire legal history, dispute status, mortgage, transaction restrictions and transactions throughout the life cycle of assets. Therefore, completing this full database is a complex process that is difficult to complete in a short time.
However, with the spirit of drastic and synchronous implementation from the Central to local levels, along with close coordination between management agencies, tax authorities, banks, notary systems and related organizations, this goal can be completely achieved in the medium and long term.
VARS IRE believes that the simultaneous deployment nationwide from the beginning will face many challenges. A more suitable option is to pilot in some localities with favorable conditions such as Hanoi and Ho Chi Minh City, then evaluate, improve the model and gradually expand it nationwide.
