There must be measures to get rid of the original, " draw lots" for land plots
With a low or average income, many people do not dare to dream of owning a house in Hanoi one day. At the seminar " decoding real estate capital flows and opportunities for real home buyers" organized by Lao Dong Newspaper on October 22, experts proposed a number of short-term, medium and long-term measures to "heat down" the real estate fever.
Looking at reality, Dr. Tran Xuan Luong - Deputy Director of the Vietnam Association for Real Estate Market Research and Evaluation (VARS IRE) said: "All policies are aimed at helping the disadvantaged, leaving no one behind, in line with the State's policy: Everyone has a job, everyone has a place to live. However, in the current context, policies are not yet perfect, there are still certain difficulties - for state management agencies, for investors, and even for home buyers".
According to Mr. Luong, when the State maintains stable land prices, housing prices can be pulled down. Because land is owned by the entire people, the State can completely take measures to prevent land prices from increasing. Next is the cost of administrative procedures - for housing for the majority of people, the reduction of procedures such as investment policies, investment licenses or construction licenses needs to be taken into account.
A representative of the Vietnam Association for Real Estate Market Research and Evaluation (VARS IRE) proposed: "When there is a clean site and complete technical infrastructure, investors only need to " draw" the land lot, no need to auction".
Mr. Luong gave a specific example, for enterprises with equivalent capacity, the State organizes a draw, has a fixed price threshold, and land prices will not fluctuate. At the same time, administrative procedures are reduced but standards on construction, environment, and safety are issued for businesses to implement.
Talking about the initiative to design 10 pre-zensified house models, licensed according to standard models; creative permits within a certain range, Mr. Luong commented that businesses can reduce design costs.
"If the State exempts or reduces taxes, supports the price of construction materials such as cement, sand, stone, gravel, ... housing prices will certainly decrease. If we only stop at paper policies and do not change the basic approach, it will still be just to handle the spearhead" - Mr. Luong emphasized.
It is necessary to clarify the criteria for the quantity and value of assets
Evaluating the proposal to limit credit for buyers of second houses or more of the Ministry of Construction, Mr. Nguyen Quang Huy - CEO of the Faculty of Finance - Banking, Nguyen Trai University frankly shared: "The current credit limit for those who buy second houses is only based on the quantity criterion. However, reality shows that some people bought two houses, with a total value of only about 5 billion VND, while others bought only one house but the value was up to 1-2 million USD. Thus, there is a huge difference between these two cases".
Mr. Huy said that limiting credit for people who own many properties requires criteria on quantity and taking into account the value of assets.
"However, this is only an administrative solution, short-term. In essence, how to lend is determined by the regulations of the State Bank. Commercial banks also need to review the functions and coordination mechanisms between the Ministry of Construction and the State Bank, to avoid overlap" - Mr. Huy added.
Regarding fundamental solutions, experts affirmed that the focus on increasing supply, especially in the segment of social housing and affordable commercial housing, is urgent.
In addition, it is necessary to develop satellite urban areas with infrastructure connecting to the center so that people can own real estate products that are both "pocketful" and "money-pcked". For commercial housing projects, it is possible to consider increasing the social housing ratio from 20% to 30%. At the same time, legal procedures need to be resolved drastically and quickly, because if only a few years of delay is required, investment costs have increased sharply due to inflation. This is one of the reasons for the high housing prices in recent times.
