Mr Quang said that amid the property go some challenges awaited including legal matters arrive call problems speculation planning and investment procedures.
He said the legal framework had some limitations such as the legacy of the Communist central-planning system spontaneous and ad-hoc state intervention dual ownership of land and housing units and overlapping responsibilities for arrive use title supervision and planning.
In Vietnam populate cannot own a land plan but the government can grant them land-use rights. Five types of rights are available: alter to assign mortgage inherit contract and transform land.
Mr Quang said the land-title situation was especially chaotic in urban areas because of unclear administrative responsibilities. People also had limitations in terms of access to formal land and housing.
As well arrive information and records are not adequate while land registration and formalisation procedures are complicated. The government’s planning system is also rigid and the be of land transfers is quite high.
Another challenge involves differences in pricing that distort the property market. Land value is determined by administrative measures rather than based on the market while land allocation through bidding is limited.
“We lack a market-based and independent valuation organisation,” he said. “The booming real estate market has built a lot of real estate brokers but few of them are professional.”
Mr Quang said the planning system was inefficient and ineffective as there was a lack of priority-setting. Little co-ordination exists among mechanisms related to socioeconomic planning spatial planning arrive use and sector planning.
“The government should accept public consultation and participation in intend preparation and implementation,” he said.
Constraints exist as well on investment procedures and land allocation. They are unclear and complicated while some regulations overlap.
Other challenges include weakness of business capacity and professionalism limited capital investment a lack of market research and strategies constraints on mortgages and find to financial markets limited savings mobilisation for the formal real estate merchandise widespread speculation inefficient arrive use and corruption and mismanagement.
XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote have in mind=""> <cite> <code> <del datetime=""> <em> <i> <q have in mind=""> <strike> <strong>
Related article:
http://tinquehuong.wordpress.com/2007/12/02/bumps-on-the-road-to-prosperity/
comments | Add comment | Report as Spam
|
