The Real Estate Market Awaits a Boost from July 1st
Recently, the Prime Minister of Vietnam has issued an urgent document to relevant ministries and provincial authorities regarding the early implementation of the Land Law 2024. The aim is to propose to the National Assembly to allow the Land Law to take effect from July 1st, earlier than originally planned.
With prompt issuance of decrees and regulations related to land investigation, land registration, and land information systems, the Land Law will come into effect half a year earlier than expected. This important legislation is expected to greatly contribute to the recovery and development of the real estate market.
Early Implementation to Propel the Market
The news of the Land Law 2024 taking effect ahead of schedule has brought new momentum to the real estate market. Most experts agree that the early implementation of this law from July 1st will stimulate a strong recovery in the real estate market, contributing to the overall economic growth of the country.
According to Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association, the Land Law 2024 aims to address existing flaws, inconsistencies, and necessary additions based on practical experience. Early implementation of the law is therefore highly desirable. This effort by the government aligns with the shared expectations of businesses and the community.
Dinh further stated that many delayed projects will be resumed and completed, increasing the supply in the market and alleviating the current supply-demand pressure. This will provide individuals with better options to meet their housing needs. Additionally, the development of real estate projects and the reactivation of businesses will create more job opportunities for the people.
A Targeted Market Recovery
A quick and stable recovery of the real estate market is a key objective of the government. Measures have been taken to address difficulties in this sector, as it ultimately influences related industries, such as construction materials and service providers. All these efforts will contribute to the overall economic development of the country.
According to Tran Van Binh, Vice Chairman and General Secretary of the Vietnam Real Estate Brokers Association, the Land Law 2024 is a significant legislation that affects various aspects of society, attracting widespread attention from individuals, businesses, and investors. This law is expected to break legal barriers and pave the way for a vibrant real estate market in the near future.
In this revision of the law, many provisions have been adjusted to maximize benefits for the people. If the expected legal changes are successfully implemented, transactions within the community will be closely monitored, ensuring fair market values and creating a mechanism for controlling the real estate market. This will support the safe and transparent development of the real estate market.
In conclusion, the early implementation of the Land Law 2024 from July 1st is anticipated to provide a significant boost to the real estate market in Vietnam. This move will not only lead to the recovery of the market but also contribute to the overall economic growth of the country. The government’s efforts to address legal shortcomings and create a supportive legal framework align with the aspirations of the business community and the people. Business Today.