Assessing the impacts of the laws related to real estate just passed by the National Assembly, officially effective from August 1, 2024, Associate Professor Dr. Tran Dinh Thien - member of the Prime Minister's Economic Advisory Group , former Director of the Vietnam Institute of Economics - said that the new laws, when officially taking effect, will have a positive impact, contributing to promoting the recovery and development of the real estate market.
According to Associate Professor, Dr. Tran Dinh Thien, the laws were drafted in the context of the difficult real estate market, with the goal of thoroughly resolving these problems.
In fact, efforts to resolve these problems and bottlenecks are reflected in the recently passed laws. Although they have not yet reached expectations, they will certainly have a positive effect.
Sharing the same opinion, Dr. Can Van Luc - BIDV Chief Economist - commented that accelerating the deadlines for three sets of laws such as the Land Law 2024, Housing Law, and Real Estate Business Law 2023 compared to regulations will have an impact. positive impact on Vietnam's real estate market.
This helps quickly resolve market difficulties and obstacles, especially related to issues such as land valuation, site clearance, resettlement, and implementation of social housing projects, contributing to promote the development of a healthy real estate market.
Sharing the same opinion, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - acknowledged that real estate prices may increase when the land price bracket is removed, but this impact is not virtual like other fevers. before.
Experts say that the new regulations will bring assets back to their true value, real estate sellers and buyers will be transparent, and management agencies will also be able to easily monitor the market.
For example, in the period 2020-2022, the real estate market has witnessed many unusual price fevers, especially in the suburban land segment. In many districts around Hanoi or neighboring provinces such as Bac Giang, Bac Ninh, Hoa Binh, Hung Yen, the land segment has increased locally by 40-50% compared to before the COVID-19 epidemic. Notably, rising land prices in many localities have caused many groups of investors to rush to auctions and speculative purchases.
Chairman of the Vietnam Real Estate Brokers Association (Vars) Nguyen Van Dinh stated that during previous real estate fevers, many secondary investors easily poured money into real estate because of the expectation of buying low and selling high. But after the 2024 Land Law took effect, product prices were high from the beginning, causing speculators to be careful when investing money because the profit margin was difficult to reach as expected.
Notably, the new regulations also cause the secondary real estate investment market, which is easily "blown" into a fever, to enter a period of adjustment and healthy development.
