PM requests stricter management over auctions of land use rights

Prime Minister Pham Minh Chinh has requested relevant ministries, agencies and localities  to review and tighten management over auctions for land use rights to develop the real estate market in a healthy manner.

In an official dispatch issued on August 21, PM Chinh asked for measures to prevent manipulation of land auctions for illicit gains that might lead to market disruptions.

Some localities have effectively organized auctions for land use rights, contributing to local socio-economic development. However, in some cases, the bid winning prices were reported to skyrocket abnormally, raising concerns about potential negative effects on the real estate market and the local economy, according to the dispatch.

The PM asked relevant ministries, agencies and localities to urgently inspect land use right auctions and strictly handle violations. Auctions with winning prices many times higher than starting ones will be subject to special attention.

They were also required to review related regulations and propose amendments if shortcomings are found.