The National Assembly (NA) on Monday morning discussed supervision results of ''conducting policies and laws on real estate market management and social housing development from 2015 to the end of 2023''.
Authorities in Ha Noi halted processing on all land partition applications of agricultural land or made up of agricultural areas and non-residential land in a move joined by other localities across the country to combat real-estate speculation and hoarding.
Property speculation and a lack of roads and facilities such as hospitals, schools and shopping malls have led to a number of so-called “deserted towns” in real estate hotspots in HCM City.
The People’s Committee of HCM City has proposed to impose a tax on apartments and houses which are sold within one year after purchasing, aiming to reduce speculation and ensure stability in the estate market.
The idea of taxing those owning multiple houses, in a bid to prevent speculation, is causing a stir over whether such a tax is feasible, and the impact it might have on the housing market.