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Minister of Natural Resources and Environment Do Duc Duy said that some people participating in land auctions do not really have a need for housing but are mainly speculating. Photo: Quochoi.vn.

Minister Do Duc Duy pointed out signs of speculation and land price inflation

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According to Minister of Natural Resources and Environment Do Duc Duy, some subjects participating in land auctions do not really have housing needs but are mainly speculating and manipulating prices.

Auctioned land in Thanh Oai district, Hanoi. Photo: Cao Nguyen.

Hanoi restricts land auctions for individuals to build their own houses

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Hanoi City directs units to continue perfecting regulations, including limiting the organization of auctions to allocate land to individuals for self-construction of houses.