According to the Vietnam Real Estate Brokers Association, recently there have been about 1,200 projects facing problems, mainly legal.
In 2023, about 500 projects have been reviewed, urged, and guided by the Prime Minister's Working Group to remove difficulties and obstacles in real estate project implementation. But there are still nearly 800 projects waiting.
Mr. Le Van Binh - Deputy Director of the Land Department (Ministry of Natural Resources and Environment) - said that these problems are largely due to businesses not properly implementing regulations, leading to slow project implementation.
This person said that although the law stipulates, many projects are not done sequentially, leading to errors that often occur.
According to previous regulations, the time for valuation is when there is a decision to lease land, but there is no regulation on how long it takes to issue a decision on land price . This causes stagnation. Regarding this problem, the Land Law 2024 has removed problems in terms of valuation.
Deputy Director of the Land Department added that the Land Law 2024, Housing Law 2023, Real Estate Business Law 2023 taking effect from August 1, 2024 will create conditions to promote the real estate market to recover quickly. than.
Accordingly, land access for real estate investors will be more transparent. The transparent mechanism will create favorable conditions for investors and people without having to deal with legal procedures like before.
Mr. Binh said that in the Land Law 2024, issues of land price and resettlement compensation will be resolved. Previously, we set specific prices, but many places set prices that were still low compared to the market. Although the new regulations still use specific prices, they gradually approach market prices. Land prices increase, ensuring better rights for people whose land is recovered.
Sharing with Lao Dong reporter, Mr. Nguyen The Diep - Member of the Vietnam Real Estate Association - said that the early implementation of these three laws will solve the problem of land valuation and fulfillment of financial obligations. .
According to Mr. Diep, in recent times, many projects have had problems fulfilling financial obligations. Many localities cannot do this, leading to many mistakes in land valuation. From there, there is a problem of fear of making mistakes and not daring to do it.
Mr. Diep added that the real estate business community has been going through a crisis since 2018. Thousands of projects had to stop and could not be implemented, with an estimated value of about 30 billion USD.
The reason is due to overlapping institutional and legal problems, leading to state management agencies not being able to license the project. From the new laws taking effect, Mr. Diep hopes that with each project, "businesses will know where they go wrong and correct them, and so will the government" to license the project in accordance with regulations.
