Decree on development, management and use of the information system on housing and real estate market.

Decree No. 44/2022/ND-CP on development, management and use of the information system on housing and real estate market was issued by the Government on 29 June 2022 and took effect on August 15, 2022.

The information system (IS) on housing and real estate market (REM) includes: Database on housing and REM; information technology (IT) infrastructure on housing and REM; software system for management, operation and exploitation of information on housing and REM.

An IS on housing and REM is to be built uniformly over the country to share and provide basic information on housing and REM to agencies, organizations, and individuals for State management and the publication of statistics on housing and REM to meet the requirements of socio-economic development.

1/ Decree 44 specifies the subjects and scope of utilization and use:

1. a) Agencies involved in building and maintaining databases on housing and REM may utilize data under their management. Utilizing data on housing and REM outside the scope of management must be approved by the agency managing the housing and REM information system.
2. b) State management agencies are required to connect and share information on housing and relevant REM for State management, investigation, verification, and handling of violations of the law.
3. c) Agencies, organizations, and individuals other than those specified in (a), (b) above are entitled to request sharing and providing information on housing and REM in accordance with the regulations and legislation on accessing information.
4. d) The agency managing the housing and REM IS must not share or provide information affecting national security, business secrets of enterprises, or information on individuals, except for cases of investigation, verification and handling of violations of the law and the State management of competent agencies.

2/ Three ways of utilization and use of database on housing and REM.

The utilization and use of information on housing data and REM must comply with the provisions of the law on accessing information and other relevant laws.

The three ways of utilizing and using the database on housing and REM include:

(1) The Portal of the housing and REM IS: http://www.batdongsan.xaydung.gov.vn. This is the Portal of the Department of Construction.

(2) By request form or written request.

(3) Contract between the agency managing the housing and REM IS and the party utilizing and using data on housing and REM in accordance with the law.

Organizations and individuals seeking to register for the right to utilize and use information and data on housing and the REM shall send a request form to the agency assigned to manage and provide information and data on housing and REM in the following ways:

• Submit directly in writing to the competent agency;

(2) Send by official letter, fax, post office;

(3) Online registration on the portal of the competent agency;

Within 07 working days from the date of receipt of the request, the competent agency shall consider granting the right to utilize and use information and data on housing and the REM; In case of the refusal to provide the right to utilize and use, the competent agency must reply clearly with suitable reasons.

3/ Publish information on housing and REM

The Ministry of Construction periodically publishes basic information on housing and the REM nationwide at the Portal of the housing and REM IS. Such information includes:

(1) Annually: before December 31 of the year, the following statistics are announced: Results of the implementation of the Housing Development Program and Plan; number and area of houses in urban and rural areas; the number of houses and residential land granted certificates of land use rights and ownership of houses and other land-attached assets (*).

(2) Quarterly: on the last day of the quarter, the following statistics will be published: The total number of real estate projects granted by the decision approving investment policy, construction permit, and commencement certificate; quantity and area of real estate projects eligible to be put into business; quantity and area of real estate of the project that has been traded; the number of real estate types of the project being traded through the real estate exchange; real estate transaction price indices; the number of real estate transactions (**).

(3) Provincial People’s Committees assigns the Department of Construction to periodically publish basic information on local housing and REM on the Portal managed by the agencies, including: Annually: before the date December 31 of the year of publication of the statistics specified (*) above; quarterly: the last day of the quarter to publish the statistics specified in (**) above.

In general, the unclear legality of each real estate project will cause potential risks for clients. Many investors cannot give certificates to clients because they have not completed the legal procedures. Some problems may arise such as difficulty transferring or mortgaging property. Therefore, the publication of project information is necessary for clients and related entities, contributing to building a transparent REM. The announcement of the list also needs to be updated continuously to create a timely information flow, especially the need to publish bank guarantee conditions. In addition, there should be regulations to strictly handle investors who avoid publishing project information. Many investors have been avoiding their responsibility, which negatively affects clients.