On August 22, the National Assembly discussed in the hall the policy orientation for amending the Law on Real Estate Business.
Delegate Nguyen Minh Tuan (National Assembly Delegation of Phu Tho province) said that there is a phenomenon of some investors and real estate developers advertising untruthfully about the environment around the projects before selling to customers.
From there, it is proposed that in Article 5 on publicizing information about real estate, real estate projects, in addition to the area, height or color of building houses, it is mandatory to publicize extremely important information related to green trees, water sources, climate, sound and lighting around the project.
This delegate also pointed out that "in reality, there are projects that intentionally "green" surrounding factories on drawings to sell to customers. Besides, there are projects that advertise completely not in accordance with the actual 3D design.
For example, the actual lake is only about 1-2ha wide, but the advertising viewing angle is drawn very wide as if it is dozens of hectares. Or like the surrounding green trees are drawn a lot but in reality it is not like that; the skylight is shimmering but reality is very different..." - the delegate stated.
Asking the question "who is responsible and protects their rights when investors and customers buy these projects?", the delegate suggested that the advertising information of investors must be true and truthful. At the same time, in Article 6 on prohibited acts, it is necessary to legalize the prohibition of false advertising.
The Phu Tho delegation delegate said that it is necessary to legalize this so that investors and real estate developers when starting to research and implement projects must "advertise accurately". Avoid cases where violations occur and then other penal codes are applied, then it is too late.
We cannot let the situation where customers or investors only look at 3D images, watch shimmering advertising clips with birds flying and flowers blooming like Singapore, but the reality of handover is completely different" - delegate Nguyen Minh Tuan emphasized.
Speaking at the hall, delegate Nguyen Khanh Vu (National Assembly Delegation of Quang Tri province) said that the draft amended Law currently does not have specific regulations to prevent acts of manipulation and inflation of real estate prices, a problem that has caused serious instability to the market in recent times.
Therefore, the delegate proposed to study and supplement prohibited acts including: providing false information about projects, planning, prices; and acts of arranging and creating unreal transactions to inflate prices or create artificial scarcity in the market.
This addition will create a sufficiently strong legal tool for management agencies to thoroughly handle the current price manipulation situation" - a delegate from the Quang Tri delegation emphasized.
