HÀ NỘI — Official information on 120 real estate projects has been made public on the national housing and property market information system since the platform began operating more than a month ago, the Ministry of Construction said.

The system had also issued professional identification codes to more than 3,000 real estate brokers and recorded nearly 3,500 property transactions as of September 7. About 11,000 accounts have been issued to government agencies, organisations and businesses.

It is designed to create a unified and regularly updated source of housing and real estate market data to improve market transparency.

Hoàng Thu Hằng, deputy head of the ministry’s Department of Housing and Real Estate Market Management, said that the initial figures showed both the volume of data being added to the system and the need for local authorities to further standardise and regularly update information.

A centralised database with accurate and consistent data would help authorities monitor market developments, identify unusual movements, improve forecasting and respond more quickly with policy measures.

It would also give consumers and businesses greater access to official information and help limit the impact of misinformation, supporting a safer and more sustainable real estate market.

The system is also designed to connect with the national population database, national land database and other specialised databases, allowing information to be linked and shared across government systems. — BIZHUB/VNS