The Prime Minister has directed the two ministries to report by August 15.
The establishment of a land use rights trading platform aims to institutionalize the Resolution of the 5th Plenary Session of the 13th Party Central Committee on continuing to renovate and improve the institutions and policies, enhancing the efficiency and effectiveness of land management and use.

A trading platform is a centralized venue where goods are listed, allowing buyers and sellers to connect and conduct transactions. When a regulatory agency sets up a centralized trading platform, it provides specific information about the goods so that buyers can consult before making decisions, thus promoting transparency and openness in the market. Vietnam already has stock exchanges, commodity exchanges, and most recently, a bond trading platform.

Previously, real estate transactions were mostly conducted through brokerage companies (private exchanges). However, many believe these brokers have contributed to inflated housing prices. Most current brokerage platforms focus on promoting and selling a limited number of projects, often without disclosing full information — particularly legal documentation — of the real estate. As a result, the revised Law on Real Estate Business is considering reinstating the requirement that the sale of future-formed real estate must go through brokerages, which has sparked considerable debate.

Nonetheless, experts say that if government authorities operate the land use rights trading platform, it could increase transparency and stabilize the market.
Earlier, the Resolution of the 5th Plenary Session of the 13th Party Central Committee called for the commercialization of land use rights and the improvement of regulations related to real estate. It also emphasized the need for mechanisms to ensure the real estate market develops in a healthy, safe, and sustainable manner, with tight control to prevent land speculation.

Regarding real estate data transparency, the government has also tasked agencies with collecting and updating transaction data under stable conditions, aiming to build a national land price database and map. View more