Recently, in a report sent to the Office of the Government on the reasons for the increase in real estate prices, the Ministry of Construction said it would study and propose a tax policy for cases of owning and using many houses and lands to limit speculation and buying and selling in a short period of time to make a profit.
The above proposal of the Ministry of Construction is receiving mixed opinions from the people.
Mr. Nguyen Manh Duc (Cau Giay, Hanoi) said that currently, housing prices in Hanoi have increased far beyond the affordability of the majority of people. Mr. Duc said that the imposition of real estate taxes leads to double taxes and causes housing prices to continue to rise. Accordingly, buying a house in big cities will become more difficult for people.
Ms. Nguyen Thi Mai (Thanh Xuan, Hanoi) also expressed her concerns about the house tax. "Currently, many people's income is still low. They save up all their lives to buy a small house, and taxing a second property will only add to the economic burden on people."
Along with the opposing opinions, there are also many opinions in favor of imposing real estate taxes. Mr. Hoang Viet Tuan (Cau Giay, Hanoi) shared: “Imposing high taxes on people who own many assets will create more fairness in society. People who are able to accumulate many assets should be responsible for contributing more to society. I support imposing taxes on people who own many properties. This policy will help limit speculation.”
Regarding this issue, Dr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association, President of Vietnam Real Estate Brokers Association (VARS) said that the imposition of real estate tax should only be considered when there are behaviors that negatively affect the market. As for people who buy a second, third or more home but use it for the right purpose, creating added value for society, this is a positive behavior, so it should be encouraged and facilitated.
In addition, Dr. Nguyen Van Dinh said that owning real estate or doing real estate business are all legitimate rights of the people. Accordingly, if we do not understand correctly and apply the tax calculation for second real estate in a rigid manner, it will certainly lead to unpredictable consequences.
Dr. Tran Xuan Luong - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation, said that the second real estate tax will bring many benefits. However, at this time, the problem of determining exactly who owns the real estate has not been resolved due to the lack of sufficient database and the phenomenon of having someone else take the title of the property. Therefore, it is necessary to develop a suitable real estate tax roadmap, and this policy should not be applied immediately.
