HÀ NỘI — The Ministry of Construction has urged that real estate transactions be shifted online through official trading centres or certified electronic platforms to improve transparency and strengthen State management, as Việt Nam moves to modernise how property changes hands.

The proposal appears in a draft decree on housing and real estate market data development and management, now open for public consultation.

“The Government encourages real estate transactions to be conducted via trading centres or electronic platforms to ensure openness, transparency and effective supervision,” the ministry said.

At present, most transactions take place on business-run trading floors, largely in the primary market, leaving oversight fragmented and information inconsistent.

Steps toward digital transactions are already underway. To ensure a safer and more stable property market, the Prime Minister has called for the establishment of a State-run real estate and land use rights trading centre.

Earlier this year, the Ministry of Construction was assigned to study and develop online property trading models similar to stock exchanges, aiming to push digitalisation of land-related procedures.

A pilot exchange is expected between 2026 and 27, requiring all property transactions — including sales, purchases, transfers of ownership, leasing and lease-to-own — to be processed through the system.

The draft decree also proposes that every property asset be issued a unique identification code. From 2026, organisations and individuals must provide housing ownership information for integration into the national database. The information would include names, identification numbers, legal documents, property types and addresses, areas, quantities, ownership duration and legal status.

Current land legislation does not provide specific rules on property ownership data or identification codes, leaving a legal gap the ministry says must be filled as the market evolves. — VNS