The Ministry of Construction is seeking opinions on the draft regulation limiting secondary home loans or more. According to the proposal, buyers of second apartments can only borrow up to 50% of the contract value, while those of third apartments or more can only borrow 30%. Many opinions are concerned that this regulation may infringe on people's property rights and freedom of business.
Some opinions say that investors may "circumvent the law" by asking relatives to come up and make fake transactions. Discussing this issue with Lao Dong reporter, Lawyer Truong Anh Tu - Chairman of TAT Law Firm, expert on housing policy and real estate market - said that the 2015 Civil Code has provisions in Article 124 on counterfeit transactions. If it is proven that the real purpose is hidden - such as being under the household name - the transaction may be declared invalid.
"However, in reality, it is very difficult to prove because transactions are often fully documented, notarized, and registered in accordance with regulations. Therefore, instead of just relying on handling the consequences, a root cause solution is needed: data transparency.
When housing data is connected to the banking, population, and tax systems, management agencies may detect unusual signs, such as cash flow not matching income, or an individual is suspected of "standing in the household name". transparency is the key to preventing swerving, not punishment" - said lawyer Tu.
To control speculation and not cause "shock" to the market, this lawyer proposed a three-step roadmap. "First, prepare data and authentication infrastructure: Urgently deploy a housing database, connect with residents, credit and taxes. This is a prerequisite.
Second, pilot implementation in some areas such as Hanoi, Ho Chi Minh City, Da Nang in the first 6-12 months to assess the impact and adjust policies promptly.
Third, transparent policy communication: Clearly explain this as a measure to control speculation, not to limit ownership or house purchase" - said lawyer Tu.
The Chairman of TAT Law Firm commented that if done correctly, the policy will contribute to stabilizing the market, directing capital flow to those who need to stay, reducing speculation and credit risks. But if done wrong, hastily, or unclearly, a "good" policy can become a barrier to opportunity, especially for those who are trying to buy a house legitimately.
"If a reasonable, transparent and roadmapless credit policy is not designed, a good measure can become a barrier to people's opportunities" - the lawyer commented.
