Removing difficulties in accessing land
Currently, there are still many difficulties in accessing land to implement investment projects in localities. In "Recommended policies for the development of a stable and healthy real estate market", the National Economics University recommends solutions that should be aimed at solving specific problems of enterprises.
For example, completing the auction, bidding, and land allocation process according to the new provisions of the Law, to ensure that investment projects with completed infrastructure and legal conditions can be implemented in accordance with regulations.
Develop and adjust land price lists in accordance with the spirit of the new Law, but it is necessary to ensure the interests between the State and investors so that enterprises have a basis to fulfill their financial obligations to the State and management agencies have a basis to approve projects.
Speed up the completion of legal procedures, remove obstacles for projects, to facilitate the transfer of projects to projects that do not have sufficient financial capacity as required by the Law on Real Estate Business 2023.
Allow adjustment and guidance on the implementation process of converting commercial housing projects into social housing for rent or lease-purchase for policy subjects.
Research and consider piloting the decentralization and authority to decide on adjusting commercial housing construction projects to social housing for the People's Committees of provinces/cities to promote the process of restructuring real estate goods in the market.
Unblocking capital for the market
According to Prof. Dr. Hoang Van Cuong - former Vice President of the National Economics University, the Vietnamese sausagey capital flow into the Vietnamese real estate market comes mainly from credit channels, corporate bonds and customer mobilization. Therefore, it is necessary to unblock capital for the real estate market.
Firstly, unblocking capital sources from bank credit. Commercial banks need to issue appropriate lending criteria for different types of real estate, limit the concentration of credit too much on real estate projects, high-end housing; focus credit capital on investment in social housing projects, commercial housing projects with high efficiency, good consumption, meeting the real needs of the people.
At the same time, credit expansion needs to go hand in hand with credit quality control, strengthening appraisal and supervision of loan use, ensuring proper purposes, and limiting new bad debts arising in the real estate sector.
Second, develop capital flows from real estate bonds. The Ministry of Finance needs to review the financial status (including assets, debts, and cash flows) of companies issuing corporate bonds (TPDN) that are currently facing difficulties in order to support and monitor measures to fulfill debt obligations in the coming time.
Third, attract foreign investment capital, creating a long-term capital mobilization channel for the real estate market.
It is necessary to encourage the development of institutional investors in the real estate market through promoting the development of real estate investment funds to diversify capital mobilization channels for the real estate market, in order to gradually reduce dependence on capital mobilized from credit institutions and the corporate bond market.
