|
Vietnam to have official real estate price index
Deputy Minister of Construction Nguyen Tran Nam said during his working trip to the south that the Ministry of Construction is aware of the importance of creating a real estate index which truly reflects the situation of the real estate market.
In fact, many real estate firms in Vietnam already have their own real estate price indexes with information updated weekly.
Tran Minh Hoang, Director of VinaLand Invest Corp, which was the first to have its own real estate index in HCM City, said the company’s price lists are updated based on information about successful transactions within VinaLand’s system. The transactions are mainly the purchase and sale deals of the land plots and houses in new urban areas like the southern area of HCM City and the west of the city (districts 2 and 9).
The appearance of VinaLand’s real estate indexes have been welcomed by experts, who are happy because they now have figures to refer to. Hoang said that VinaLand’s index has been used for reference and published on the Ministry of Finance’s Thi truong gia ca bat dong san va Tai san (real estate market’s prices and assets).
However, doubts remain about the reliability of such indexes, as they are released not by independent organisations but real estate firms, which could publish wrong information for their own benefit.
Sacombank’s real estate company (Sacomreal) every week releases lists of real estate prices in HCM City for reference. There are big differences in the information about real estate prices provided by Sacomreal and VinaLand.
VinaLand’s real estate price list shows that the prices of land plots in the area of Him Lam-Kenh Te project in district 7, HCM City have increased by 9. 7-36%. Meanwhile, Sacomreal’s figures show that the land prices in the area have not increased.
Deputy Minister of Construction Nguyen Tran Nam, during his working visit to the south on July 26, told the press that his ministry is aware of the need for a real estate index which truly reflects the market supply and demand.
Nam said that the ministry is building up an index and it is expected to be completed in October and submitted to the government. In the immediate time, there will be real estate indexes for the HCM City market, the biggest market in the country, with the reference prices of apartments and offices for lease.
Nguyen Xuan Chau, General Director of Nova Home, said that Vietnam now has to create a real estate index which can help show the scale of the real estate market. Chau also said that the existence of such an index would help make the market more transparent, thus helping it recover sooner.
ND
|
