HCMC determines to prevent realty speculation

Chairman of People’s Committee in Ho Chi Minh City Le Hoang Quan has asked relevant department and agencies to prevent speculation of realty market in the city.

As per the document sent yesterday to local authorities, the leader asked relevant agencies to review realty projects and demand-supply condition as well as conceive a plan to balance the property market to prevent a waste.

Relevant agencies were asked to write a report on realty management after the law of realty trading, of housing and of construction takes effect.

The Department of Environment and Natural Resources must write a draft to submit the municipal People’s Committee to prevent illegal sales of agricultural land.  

At the document, it says clearly that chairpersons of districts and wards must be held accountable for neglected management of illegal sales of land for agriculture.

By MAI ANH – Translated by Anh Quan

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