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Termed Land Ownership Has Become the Trend of the Market

The termed landowner has the advantage that the land owners have more responsibility for the lands they own, make best uses of land and prevent land speculation, land accumulation and finance trapped in land ownerships.

Termed Land Ownership Has Become the Trend of the Market
Nhat Trung22:36 16/08/2019
Permanent Land Ownership though matches with the long term concept of Vietnamese but hinders the development of the real estate market, that is the message from the meeting under the theme “Land ownership: World experiences and Lessons for Vietnam” organized today by VTV24 in cooperation with Bizlive.
In the meeting, the world experiences on land ownership and Vietnam’s most outstanding cases were discussed. Former Deputy General Director of General Department of Land Administration Dang Hung Vo said that looking back into history of land ownership in Vietnam, Vietnam’s administration recognizes the long term landownership because that is suitable with the mindsets of Vietnamese people. 
However, the termed landowner has the advantage that the land owners have more responsibility for the lands they own, make best uses of land and prevent land speculation, land accumulation and finance trapped in land ownerships.
Vo remarked that the most stable mechanism is lands are put into yearly rents. This helps for the high responsibility in land using and land ownership, reduce the land costs and bring in stable revenue for the state budget.
Dung Duong – Senior Director, CBRE Vietnam shared her expert view on three kinds of new products in the real estate markets including: apartment, land attached with private houses and street houses.
Dung said that over the past several quarters, real market welcomes the apartments warmly, so far most of them are permanently owned. Vietnamese mainly like the long term ownership thus the absorbtion rate is very high. 
Dung pointed to the data that in 2008, in the two biggest real estate markets of Hanoi and Ho Chi Minh city, the total sale volume is 15 thousands apartments, the sold apartment number is 8 thousands, but into 2018, the total sold number is 63 thousands and the sold apartments are 55 thousands.
Vietnamese mainly consume the long term real estate ownership kinds. From 2014 to 2016, the total number of people buying lands/aparments for investment purposes accounts for 65 percent, in which 35 percent for residential purposes. From 2017 to 2018, when there were more middle range land products, and more people are open to the views of owning apartments, the rate of people buying lands for residential purposes gets higher to 45 percent. But the supply of apartments and lands is still very low compared to the real demand.