In Part 1 of this article, BLawyers Vietnam introduced the main part of the housing and real estate market information portal in Vietnam. In Part 2, BLawyers Vietnam focuses on analyzing data about the real estate market and provides an overview of the types of information that the Housing and Real Estate Market Information System Portal offers.
1. Content of the real estate market database in Vietnam
1.1 Local real estate data
Data on the local real estate market is compiled by real estate investors and People’s Committees of provinces and centrally-run cities (“PCs”) and periodically reported to the Ministry of Construction (“MOC”) for management.
The local real estate market data includes information on the structure of real estate products, properties eligible for transactions, project transfers, the number and value of transactions, and real estate inventory in the area. This information is regularly and continuously provided by developers to the PCs as transactions occur.
Additionally, the PCs periodically share and provide the MOC with information on foreign direct investment in the real estate business sector, data on the issuance of investment certificates for real estate projects, the number and value of real estate transactions conducted through notarization, and the status of land auctions for public investment projects in housing infrastructure construction. Information on real estate service businesses, including trading platform, brokerage, consulting, property management, the number and value of transactions conducted on trading platforms, and the number of real estate brokerage certificates issued during the period, is also reported and provided quarterly by the PCs to the MOC.
This data provides an overview and detailed view of the real estate market situation in local areas, helping to manage and operate the real estate market more effectively.
1.2 National real estate data
Data on the national real estate market includes significant information compiled from local real estate market data and other government agencies. Specifically, information on the structure of real estate products, properties eligible for transactions, project transfers, the number and value of transactions, and real estate inventory nationwide is aggregated from local data.
Additionally, the following data is also transferred to the MOC quarterly, including:
- Foreign direct investment in the real estate business sector and the activities of real estate enterprises, shared by the Ministry of Planning and Investment;
- Credit balance of real estate business activities, provided by the State Bank of Vietnam;
- Corporate bond issuance in the real estate business sector, provided by the Ministry of Finance;
- Taxes on real estate transfer activities, provided by the General Department of Taxation; and
- The number and value of real estate transactions through notarization and authentication, compiled from local data.
Data on real estate service businesses and real estate brokerage certificates nationwide is also compiled from local data, creating a comprehensive and detailed picture of the real estate market across the country.
2. Information displayed on the national housing and real estate information system portal
When accessing the portal, users will see information in Vietnamese, with the homepage displaying figures from the quarter preceding the current time, including:
- The number of new projects started;
- New social housing projects started;
- The number of real estate properties eligible for transactions;
- The number of real estate transactions conducted; and
- Credit balance.
Additionally, the portal provides detailed sections, including comprehensive news, directives, legal policies on housing and real estate, information on real estate finance for the quarter, lists of individuals practicing brokerage, and lists of real estate trading platforms. Users can also access specific information on each type of real estate, such as commercial housing, social housing, tourism real estate, industrial zones, and office and commercial centers.
The portal provides detailed data on each type of real estate, allowing users to check the number of approved projects, the number of apartments and lots, transaction status, and other indicators related to the real estate market at specific times in each province. This information helps users gain a comprehensive and detailed view of the market, supporting more effective real estate investment and management decision-making.
The above is not official advice from BLawyers Vietnam. If you have any questions or suggestions about the above, please contact us at info@blawyersvn.com. BLawyers Vietnam would love to hear from you.
Date: 01 October 2024
Writer: Thanh Huynh
