A real estate trading office in Danang, Vietnam will establish a state-run online property and land use right trading centre in a bid to curb speculation and manipulation. — VNA/VNS
HANOI: Vietnam will set up a State-run online property and land-use rights trading centre in a move to curb speculation and manipulation, with a two-year pilot programme scheduled to begin in 2026.
The Ministry of Construction stated that the centre would operate online, providing support for real estate transactions, valuation, legal and financial procedures, as well as marketing. The plan was discussed on Monday (Sept 29) at a meeting to gather comments on the draft Government resolution on the centre’s establishment.
Deputy Minister of Construction Nguyen Van Sinh said property transactions in Vietnam have mainly been conducted through privately run trading floors, which focus on listings and some primary market deals. He said it was necessary to set up the State-run centre across 34 provinces and cities.
Once the resolution takes effect, all real estate transactions must go through the centre, which will require practical regulations and convenience for users, Sinh added.
Prime Minister Pham Minh Chinh has urged efforts to accelerate the centre’s creation to ensure a healthier real estate market.
According to Vuong Duy Dung, deputy director of the Housing and Real Estate Market Management Department, the initiative aims to shift transactions to electronic methods to improve transparency and management efficiency.
He said the centre will help create a transparent property market, reduce risks and administrative procedures, lower costs for buyers and developers, and provide a formal and standardised channel for transactions while curbing speculation and tax losses.
The centre will also promote digital transformation and innovation to enhance State management and support the development of a modern property market that meets international integration needs.
During the pilot in 2026-27, the platform will handle transactions involving existing and off-the-plan houses, land-use rights in projects with technical infrastructure, and digitalised land-use rights. Transactions will include sales, transfers, leases and rent-to-own agreements, open to both businesses and individuals.
Military-run telecoms group Viettel said it is developing data and digital transformation strategies, applying blockchain, big data and AI to integrate the system with the national information portal by the end of this year.
The platform will feature a website and mobile app with AI support, integrated financial and banking services, and strict data and privacy protection. — Vietnam News/ANN
