Mr. Su Ngoc Khuong
In industrial and service zones, pushed up land prices will make the production and business model of the business not as the original orientation, ineffective.
The life cycle of a project is about 5 years, but an industrial and production project takes 20-30 years, so when the land price increases, it will greatly affect. From a macro perspective, the locality has lost its attractiveness and its attractiveness to investors.
Lawyer Nguyen Van Hau, deputy director of the Ho Chi Minh City Bar Association, pointed out one of the reasons for the local land fever is the increase in credit balance by banks. In the first quarter of 2021, credit growth of the banking sector was 2.13%, but real estate credit grew faster than the general level. Many commercial banks are racing to provide consumer loans, including real estate loans with interest rates of only 4.99% -10% / year. This move by banks has prompted people to borrow to invest in real estate.
Lawyer Nguyen Van Hau proposes solutions to control soil fever
Regarding the solution, Lawyer Nguyen Van Hau suggested that banks under the state management must have strict mechanisms and policies to anticipate the risks in real estate lending. “The management policy needs to agree on the land pricing mechanism according to the market. In the long term, the land price bracket issued by the Government should be removed and the People’s Committee of the province to issue land prices according to land use purposes should be removed to calculate the financial department on land as well as compensation for land acquisition. There is a mechanism to monitor the construction of land price list in a transparent manner … “- Proposed by Lawyer Nguyen Van Hau.
Talking about the credit flow into real estate, Mr. Nguyen Hoang Minh, Deputy Director in charge of the State Bank of Ho Chi Minh City branch, said that the real estate loan balance is about 350,000 billion VND, accounting for about 13, 5% of total outstanding loans. Compared to the beginning of the year, real estate credit in Ho Chi Minh City increased by about 2%, equivalent to the average growth rate.
Mr. Nguyen Hoang Minh talked about problems related to banking and land fever
If in the previous period, real estate credit grew too hot, sometimes accounting for 35% -40% of total outstanding loans, up to now, the banking industry still struggled to handle bad debts. Up to now, the management of credit capital flowing into real estate is reasonable and under control. Because of the fact in the past, many banks have had “poignant” lessons on real estate lending, especially in the land fever. Therefore, they are very cautious in lending, to avoid bad debts.
Provide more clean land for investors
On the side of the management agency, Mr. Nguyen Van Khoa, Deputy Director of Ho Chi Minh City Land Fund Development Center, said that the center will organize auctions of land use rights, provide raw land, clean land with relatively stable legality according to the planning approved by the competent authorities.
Specifically, as in some cases, the organization of compensation, cancellation or recovery of land use is not in accordance with the law, after the recovery is completed, the center will organize auctions in accordance with state regulations. Ho Chi Minh City People’s Committee also assigned the center to organize the auction of some resettlement house funds that no longer need to be used. In 2021 and the following years, the center will focus on implementing the direction of the city to auction a number of cases and information will be made public, inviting investors to actually participate in order to create more clean land funds for the market.
Mr. Du Huy Quang, Head of Land Management Division, Department of Natural Resources and Environment of Ho Chi Minh City
Regarding the transparency of information related to land, Mr. Du Huy Quang, Head of Land Management Division, Department of Natural Resources and Environment of Ho Chi Minh City, said that in the land law regulations, it is clear. Responsibilities which agency must implement, implementation time and content for people, businesses, investors wishing to access, capture information.
“It is the responsibility of the state management agency to publicize planning information, plans, maps, … and we are doing it. In Ho Chi Minh City, in addition to information on websites, there are also live information. Therefore, people also need to access full, clear and alert information in considering and evaluating their investment decisions “- Mr. Du Huy Quang shared.
Thai Phuong – Son Nhung; Photo: Tan Thanh
Source: nld.com.vn – Translated by fintel.vn