A suitable auction form for each type of property and more stringent sanctions are needed to prevent auction winners from walking away without buying as happened recently in the Thu Thiem New Urban Area, experts said.
Commercial banks did not grant credit to four real estate businesses that won the auction of land use rights in the Thu Thiem new urban area, according to the State Bank of Vietnam.
Although many market insiders have said this move is not too surprising and could be predicted in advance, the action of “ping the stake” still has caused a big market turmoil.
