Land trigger unleashed, real estate prices in Quang Binh have increased 100%

The 10th session, term XVII, term 2016-2021 People's Council of Quang Binh took place from 10-12/7. At the questioning session, many delegates questioned negative signs and instability, which was caused by the "trigger" of the land creating a "virtual hot status" of the real estate market.

On the afternoon of July 11, at the questioning session of the 10th session, Session XVII, term 2016-2021 People's Council of Quang Binh province, many delegates were very interested and asked questions related to the "virtual hot status" land price situation in the recently.

Delegate Nguyen Viet Hai, Delegation of Dong Hoi City, raised issues about real estate prices in Quang Binh province affecting economic development and social life.

"In recent years, Quang Binh has focused on real estate development, many urban areas have been spacious and modernized. People have the opportunity to improve housing, the province has also called for many investors, solve many jobs for many people and have collected significant budget in this field (accounting for over 30% of total budget revenue)" - said Mr. Hai.

Session 10, Session XVII, term 2016-2021 People's Council of Quang Binh province.

However, by the beginning of 2019, the real estate price situation in the province had great changes. In particular, the market price of land increased abnormally, in some places it increased or less than 100%, the market price of land rose too high compared to the real value and income of people in the province.

In Quang Binh, many "triggers" and real estate transaction channels appear, especially on social networks. Many land triggers come out of the province to "blow" land prices to dizzy with many different tactics, causing market disturbances. The situation of land trigger makes notarized documents to create virtual "waves", but there is no transfer to the name, registration tax payment, income tax payment.

Some real estate companies in other provinces and cities appeared in the area, using tricks such as gathering land in the project area to create land fund through auction, impersonating state projects, drawing more items, sold when there are not enough legal procedures with much higher prices, causing many consequences for society and people, causing market instability.

Delegate Nguyen Viet Hai said that the real estate market is not stable, the price is blowing higher than the real price will lead to great consequences. That is, investors will be very reluctant to invest in this area, which will make it difficult to collect revenue for the real estate sector in the coming years.

Over the past time, Quang Binh province has focused on developing many new urban infrastructures.

And delegates Le Thuan Van, Le Thuy district delegation said that in the first 6 months of the year, the real estate market of Quang Binh province had certain changes, creating a craze on land prices that made many people mistaking demand for land, created a "virtual hot status" of land prices.

In the face of the "trigger" of land manipulating the real estate market, the delegates expected the province to direct more drastically and have many solutions to promote the real estate market to develop in a healthy way.

Mr. Hoang Dang Quang, Secretary of the Provincial Party Committee - Chairman of Quang Binh Provincial People's Council chaired the questioning session, said that in recent years, the real estate market in the province had really had many optimistic and very exciting signals but there are signs of "bubble", "virtual hot status", which is not true to the real value.

"The provincial People's Committee and relevant departments and agencies should closely monitor and timely grasp information on real estate market developments, prevent land price fever and control investors' phenomenon of pushing up land prices to manipulate and speculate leading to bubbles in the real estate market" - Provincial Party Committee Secretary - Chairman of People's Council Hoang Dang Quang directed at the questioning session.

According to Thanh Ha