Hanoi and HCM City will announce Real Estate Market Index (REMI).in the first quarter of next year.
Hanoi, HCM City to announce property price index early next year
The move follows the Ministry of Construction’s Circular 20 to keep watch on the property market and would help State management agencies, property investors and traders plan reasonable development policies and strategies for the property market.
The index consists of two key components: the price index and the deal index. Index calculation will be based on notarised transfer deals and property exchanges as well as market surveys.
Dong Da, Thanh Xuan, Ha Dong, Cau Giay, Tu Liem and Hoai Duc districts were chosen to test the index based on the both apartment building and detached houses.
The HCM City People’s Committee has asked the municipal Department of Natural Resources and Environment, the Department of Justice, the Taxation Department and the Real Estate Association to provide information on the city’s property transaction situation for the index calculation.
Earlier, the Ministry of Construction also proposed applying the index in Danang and Can Tho city.