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Ownership registration fee lower, real estate market still cold
A lower ownership registration fee was thought would help defrost the real estate market. However, the market is yet to become more bustling.
Thanh, Director of T&T Land, said that a lower ownership registration fee for land and house assignment deals would make it easier to make transactions. However, this has not effectively heated up the real estate market. Thanh said that the sales on the market have been going very slowly.
The core factor that may make transactions on the real estate market more bustling has not appeared yet. Commercial banks still keep tightening real estate credit, making people unable to get financial sources to purchase land and houses.
Therefore, analysts say, though the demand for houses and land proves to be very big, and the procedures on property assignment have become more transparent and easier, the market still does not have a necessary impetus to develop.
There have been rumours that the land plots on Highway No 32 in districts of Tu Liem, My Dinh and Dan Phuong are selling like hot cakes. However, experts say the information is just a rumour spread in an attempt to stimulate demand.
Land prices in Me Linh district in former Vinh Phuc province and four communes in former Hoa Binh province have not increased yet though the areas became a part of the expanded Hanoi 20 days ago. Analysts also say that the expansion of Hanoi will not effectively heat up the real estate market, as it is not supported by the banking system.
VNN
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