Vietnam’s National Assembly has called for industry regulation as
part of a draft Law on Real Estate Trading currently being debated.
The law, members said, should clarify requirements on licensing real estate brokers.
Speaking
to the media Phan Trung Ly, Chairman of the NA Legal Committee, said
currently there were too many real estate and house brokers who worked
"underground".
He said the draft Law must increase
requirements on becoming real estate brokers and the method to measure
their credibility, and further suggested allowing the Vietnam Real
Estate Association to be given responsibility for testing and issuing
licences to brokers.
Supporters of the law also suggested that
organisations deposit VND50 billion (US$2.3 million) for organisations
and individuals who want to engage in the real estate business.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Recent stories you may have missed:
MUST READ: Experts say why now is the time to buy Thailand
DO NOT MISS: Work starts on THB50bn waterfront development
Buyers are snapping up Bangkok CBD land
Singapore buyers still keen on Thailand property
Property prices rise across Bangkok
Pattaya: The infrastructure impact
If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg