There is a land fever everywhere, boss Savills is concerned about the brokerage situation without a degree and will automatically blow the price

Minh Hoàng
April 24, 2021

(VNF) – “There are problems in the Vietnamese market regarding real estate brokers who do not have valid qualifications and certificates, with them voluntarily pushing prices up, affecting land prices the real market “, said Ms. Do Thu Hang, Senior Director of Savills Hanoi.

Sốt đất khắp nơi, sếp Savills lo ngại tình trạng môi giới không có bằng cấp tự ý thổi giá
There is a land fever everywhere, boss Savills is concerned about the brokerage situation without a degree and will automatically blow the price

– According to Savills data, the Hanoi market recorded an increase in demand for real estate, especially in the segments of villas and townhouses, residential land, types of land auction, and service land. Similarly, many other localities also experience many phenomena of land purchase and sale.

– Ms. Do Thi Thu Hang, Senior Director, Research & Consultancy, Savills Hanoi, said that planned areas or infrastructure are in the process of completion, often as the basis for land prices. increase.

– Meanwhile, areas that “follow” or only raise prices based on general information should not be seen as the real cause of land price increases. This price increase is primarily speculative rather than based on real demand. Buying and reselling does not bring the end result. Buying and selling activities that take place while waiting for price increases do not reflect the actual needs of the market and will be stopped, like what happened before.

– Ms. Hang said that the credit squeeze can be seen as a measure to control surfing speculation. However, when Vietnam’s economy is experiencing positive growth, the measures taken should be carefully considered because when applied on a large scale, they inevitably create effects with a certain lag.

– “Under current conditions, measures still need to go from the level of warning to the prevention of land fever, in order to aim for a sustainable and stable market, because this will be a decision that will not only impact on its own. to the real estate sector but also related to many other economic fields ”, Ms. Hang said.

– According to Ms. Hang, in an effort to control land fever, the state can consider two important factors:

– The first is to publish full details of infrastructure development and planning, specific updates to the people, so that they know exactly which areas are affected by state decisions.

– The second is to introduce strict sanctions to control the market and ensure openness and transparency in the real estate industry.

– Specifically, the state needs to strictly control legal conditions when investors launch products to the market, and at the same time, investors need to fulfill legal conditions to ensure buyers receive houses with the equipment and information as committed.

– In particular, Ms. Hang is concerned that the Vietnamese market has problems with real estate brokers who do not have valid qualifications and certificates. These brokers have voluntarily pushed up the prices, affecting the real land prices of the market.

– On the other hand, Vietnam still does not have a defined agency to store practical information such as market transactions.

– “Currently, the purchase and sale prices are still being recorded, but these numbers do not really reflect the actual transaction prices between buyers and sellers”, Ms. Hang said.

– On a broader scale, Mr. Matthew Powell, Director of Savills, in fact, the real estate market in Vietnam is still heavily dependent on papers. Therefore, the state can think of digital transformation, ie digitizing those papers into a common national management system.

– Having a data system at the national level will bring many benefits, including control over brokers who deliberately spread rumors and push land prices up.

– However, Mr. Matthew said that the important issue does not lie in each policy, because the market also needs to be assured of supply and demand stability. Therefore, the policies also need to clarify the protection of investors’ interests, along with ensuring to avoid inflation and doing well in censoring real estate prices.

– Commenting, Ms. Hoang Nguyet Minh, Director of Commercial Leasing Division, Savills Hanoi, added that the recent land price increase phenomenon can be localized in transactions between individuals and does not affect too much. much to foreign investors’ decisions to enter Vietnam.

– “When foreign investors make a decision to invest in the real estate market in Vietnam, they will take time to observe and evaluate the reality, through specific appraisal activities.

– “Purchasing and reselling transactions cannot assess the increase in land price, but must be based on transaction data of previously on-going projects with determined selling price and selling speed.

– “So when implementing and planning to introduce the project in the future, investors will consider how much the supply of the market at that time is. Investors themselves are still assessing Vietnam. Especially in Hanoi, the surrounding areas still have a huge land fund that has yet to be exploited, while foreign investors have great strengths in developing project populations. , providing all the utilities besides the apartment for sale ”, explained Ms. Minh.

Source: Le Nguyen

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