Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 03/CD-TTg dated 2025 requesting ministries, branches and localities to focus on rectifying and handling price manipulation, real estate speculation and inspecting and examining real estate investment and construction projects.
The document stated that recently, the Government and the Prime Minister have had many drastic instructions and timely solutions to remove difficulties, speed up the implementation of real estate projects, control and stabilize the real estate market; remove obstacles in the implementation of land management, land use, land allocation, land valuation; and promptly rectify the auction of land use rights.
However, in 2024, at some points in time, some areas and localities will have real estate and housing prices increase beyond people's financial capacity.
Some of these reasons include some associations, groups of speculators, investors, and individuals operating in real estate brokerage taking advantage of people's lack of knowledge and herd mentality to manipulate psychology, "push up prices", "create virtual prices" and disrupt market information for profit;
Some real estate project investors take advantage of the limited real estate supply situation to offer real estate prices higher than the average of real estate projects to make a profit;
Unusually high auction results for land use rights in some areas have increased land prices, housing prices, and real estate prices.
Accordingly, the Prime Minister assigned the Minister of Construction to coordinate with the Ministry of Public Security to update, complete, and operate the national database system on housing and real estate market connected to the national database on population, notarization, land, investment, construction activities, etc. to ensure regular and timely reflection and update of the legal status of projects, real estates eligible for business, real estate inventories; on real estate transactions; to be completed in 2025.
Coordinate with the Ministry of Public Security and People's Committees of provinces and centrally-run cities to inspect, examine and review real estate business activities of enterprises, investors, real estate trading floors and real estate brokers in the area, especially in areas and projects with unusual price increases; promptly rectify, prevent and strictly handle violations within authority.
Notably, the Prime Minister assigned the Minister of Public Security to direct professional units and local police to proactively grasp the situation, promptly detect, investigate, and strictly handle according to the law for organizations and individuals who violate to the extent of having to be prosecuted for criminal liability in the auction of land use rights; provide false information with the purpose of creating virtual fever and defrauding people for personal gain.
The Prime Minister assigned Deputy Prime Minister Tran Hong Ha to directly direct, inspect, urge and handle arising issues within his authority. In case of exceeding authority, report to the Prime Minister.
