"We need to add a principle of balancing the interests of the State, land users, and investors, with clear coefficients for adjusting the value of standard land plots in different areas. Land price tables should follow a five-year cycle, or a more flexible mechanism should be introduced, with adjustments made within the cycle when major fluctuations occur. Inspection must be independent, and valuation methods and input data must be made public," said Mr. Man.
He emphasized that local authorities would be responsible for regulating differences in land rent and curbing speculation.
Discussing revisions to the Law on Real Estate Business, deputies raised concerns about protecting buyers from transaction risks.
NA deputy Nguyen Thi Thu Dung of Hanoi said: “Regarding future-formed property, buyers are usually at an disadvantage due to lack of information and have to struggle to track cash flows, while good-faith reservation deposits can turn into a way of capital mobilization before all conditions are met. The law must require full disclosure of legal status, guarantees, and construction progress, and clearly define management entities, disbursement conditions, and audit rights for the retained 5% contract value.”
